SES S.A. will receive approximately $5.6 billion in incentive payments from the U.S. Federal Communications Commission.
The payout follows an FCC decision to clear 160 megahertz of Upper C-band spectrum for next-generation wireless services.
Company shares rose over 6% following the announcement of the financial windfall.
The FCC plan involves auctioning the spectrum to terrestrial 5G providers by July 2027.
SES will receive compensation for the costs of migrating existing customers to new frequencies.
Final payments depend on the company meeting spectrum clearing deadlines scheduled for 2030 and 2031.