Delek declares special dividend
The board of Mapco parent Delek US Holdings has voted to pay out a special dividend of 18 cents per share next month. The move will cost the company about $10 million above and beyond its usual quarterly payments, but that's no biggie: Delek — whose shares are up more than 90 percent year to date — finished the second quarter with almost $150 million in cash on its books.
“Our decision to issue a special cash dividend at this time reflects both the current financial strength of our business as well as our Board’s long-standing commitment to maximizing returns for our shareholders,” said Uzi Yemin, President and CEO of the Brentwood-based holding company.
Nov 2, 2011 7:18 AM
Vanguard completes debt offering
Vanguard Health Systems has closed its recent debt offering, bringing in $795 million in proceeds to fund a shareholder dividend and for "general corporate purposes," including acquisitions. The company was recently named among four companies interested in buying four-facility Northeast Hospital Corp. in Massachusetts. Jan 26, 2011 12:47 PM
Bloomberg: Look for NHI to hike dividend
Bloomberg researchers have been combing through the numbers of various health care real estate investment trusts, which by law must distribute at least 90 percent of their profits. They've singled out National Health Investors as one of a handful that are likely to raise their dividends in the coming months.The Bloomberg dividend forecasts are based on seven criteria, including company guidance, regression analysis, and put-call parity from the options market. The projections had a global accuracy rate of 88 percent in the fourth quarter, compared with 76 percent for market analysts.Through the first nine months of 2010, funds from operations at Murfreesboro-based NHI were up 8 percent. Its shares (Ticker: NHI) are down 3 percent in the past three months.
Jan 25, 2011 10:40 AM
'No easy options' for GreenBank parent
Local Howe Barnes analyst Mark Muth says investors reacted with understandable anxiety to Green Bankshares' news that it is putting on hold its TARP and trust preferred dividend payments. Even if the company is able to convert those trust preferred into common stock, it will have a lot of work to do to stabilize its situation.[T]here is no doubt that the company must be (at least partially) recapped; however, raising capital currently is a difficult proposition even for healthy institutions. Given the current buyers’ market for open bank deals, exploring the option of finding a partner is not easy either. Simply put, GRNB has no easy options unless 3Q10 results truly represented an anomaly and management is able to right the ship over the next quarter or two.Saying there is "little value in piling on at this point with a downgrade," Muth is keeping his 'neutral' rating on Green Bankshares shares (Ticker: GRNB), which have lost more than 80 percent of their value in the past six months.
Nov 12, 2010 10:42 AM
GreenBank parent stops dividends
Having "consulted" with the Federal Reserve of Atlanta, the leaders of Green Bankshares yesterday said they will suspend their TARP dividend payments to the Treasury as well as the payouts to holders of their trust preferred debt. The moves will save the bank holding company (Ticker: GRNB) more than $5 million a year. Nov 10, 2010 7:28 AM
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Widows and orphans, prepare to rejoice
The Federal Reserve has signaled that banks' financial health is on the mend by outlining the parameters bank executives will need to follow before they hike the dividends many of them slashed during the credit crunch. Nov 5, 2010 12:23 PM
Clarcor hikes dividend
The board of Franklin-based Clarcor has voted to raise the company's dividend by almost 8 percent, which will lift the stock's yield (Ticker: CLC) to about 1.1 percent. The move means Clarcor's payout has risen 27 straight years. Oct 1, 2010 7:23 AM
Cracker Barrel raises dividend, CEO pay
Sep 27, 2010 7:10 AM
Noranda issues stock dividend
Aluminum producer Noranda on Monday paid a one-for-one stock dividend to its investors, which really means private-equity firm Apollo Management, which owns 98 percent of Franklin-based Noranda, is one step closer to a nice IPO payout. Apr 22, 2010 10:17 AM
Does the Street doubt Tractor Supply?
In a post reporting one analyst's approval of Tractor Supply's first-ever dividend, BusinessWeek points out an interesting discrepancy. Despite having hiked their average EPS 2010 projection for the Brentwood-based retailer (Ticker: TSCO) by 11 cents in the past month, analysts are still 5 percent short of the middle of the guidance CEO Jim Wright and his team have established. Mar 3, 2010 8:50 AM
