Biggest Dividend

posted by Yahoo! News Search Results for dividends on Jul 30

AKRON, Ohio (PA) -- Phil Mickelson is confident the hard work he has put into his short game recently can pay dividends at the WGC-Bridgestone Invitational this weekend.

posted by Yahoo! News Search Results for dividends on Jul 30

The Canadian Press July 30, 2008 - 4:51 p.m. Enbridge Income Fund (TSX:ENF.UN): Three months ended June 30, 2008, $4,600,000, $0.13 per unit; 2007, $3,000,000, $0.09 per unit. Revenue: 2008, $72,400,000; 2007, $67,800,000.

posted by Jessica Hall on Jul 30

Chemical maker Huntsman Corp’s second-quarter earnings have triggered a new round of sparring with its disgruntled suitor, Hexion Specialty Chemicals.

Hexion, a unit of Apollo Management, jumped on Huntsman’ssecond quarterresults, saying they showed that a material adverse change had occurred in Huntsman’s financial condition. Hexion has claimed the $6.5 billion purchase of chemicals maker Huntsman is no longer feasible and the combined company would be insolvent. The two companies have already filed lawsuits against each other.

Hexion said Huntsman’s EBITDA (earnings before interest, taxes, depreciation and amortization) had dropped 19 percent from prior year and its net debt — adjusted for asset sales — was more than 25 percent higher than a year ago.

“These results further demonstrate that Huntsman has suffered a material adverse effect which is the primary reason why the combined company would be insolvent if the transaction were to be completed based on the agreed capital structure,” Hexion said. “Huntsman has provided no information to support its assertion that the combined company would be solvent.”

For its part, Huntsman remained upbeat and said it had been “encouraged by the recent moderation in crude oil and natural gas prices” and it expected adjusted EBITDA in the second half of the year to be stronger than both the first half of this year and the second half of 2007.

Huntsman Chief Executive Peter Huntsman said he hopes litigation with Hexion will be resolved by mid-September, after an expedited hearing. The trial is scheduled to begin on September 8.

Stay tuned.

posted by Yahoo! News Search Results for dividends on Jul 30

DO YOU immediately lash out in anger at anyone who criticises you? Or do you mull about it, then take your anger out on innocent victims such as your partner, or another driver on the road?

posted by Jessica Hall on Jul 30

Drumroll, please: Almost two years after radio station and billboard company Clear Channel Communications began exploring strategic options, its $17.9 billion takeover finally closed on Wednesday.

The deal, slowed by legal battles in two states and negotiations to lower the purchase price, became a symbol of the buyout industry’s glory days and the subsequent struggles of the credit crunch.

Clear Channel had agreed to be acquired by private equity firms Thomas H. Lee Partners and Bain Capital Partners last year. The market quickly changed and credit to fund the acquisition became more costly and difficult to secure.

The buyout firms had agreed to buy Clear Channel for $39.20 per share, but were forced to file lawsuits in New York and Texas to ensure that a syndicate of six banks would still fund the deal. In May, the bank syndicate, the private equity buyers and Clear Channel struck a deal to lower the price to $36 per share.

And now Clear Channel’s stock will cease trading at the end of the day. Phew!

Sirius Satellite Radio and XM Satellite Radio also closed their merger this week after struggling for 526 days, or 17 months, to gain regulatory approval. The new Sirius XM Radio, with more than 18.5 million subscribers, is now the second-largest radio broadcaster after Clear Channel.

The next marathon wait? Shareholders of BCE Inc, the Canadian telecommunications company, must wait until Dec. 11 for the long-awaited $34.1 billion deal to close. Of course, that’s more than five months from now — who knows what could happen?

posted by Paritosh Bansal on Jul 30

Two takes from the latest data on U.S. M&A activity so far: The Europeans are coming like never before — and buying their beer here — and the credit crunch has really taken the pizzazz out of the ‘p’ in private equity.

The latest numbers from Thomson Reuters show that so far in 2008, about one-third of U.S. targets were acquired by foreign companies, up from 19 percent in the same period last year.

The weak dollar and slumping stock prices of U.S. companies has created a window of opportunity for international buyers to snatch up American icons.

European companies accounted for more than one-fourth, or $196.9 billion, of U.S. target M&A volume, the highest year-to-date percentage ever, the data shows. The year-to-date volume of these transactions already exceeds full-year volumes of the last eight years.

With financing for large leveraged buyouts still scarce, private equity firms have been quieter. Globally, private equity-backed deals have plummeted, accounting for just 10 percent of total deal volume so far this year, compared to 24 percent in the same period last year.

But amid the broad slowdown of deal activity, consumer staples companies, which include deals like InBev’s offer for Anheuser-Busch and Mars buy of Wrigley, stood out. The deal volume in that sector so far this year has surpassed the figure from the year-ago period, the data shows.

Clearly, that’s something to chew over, err, drink about, umm, have a smoke over …

(Photo credit: Reuters)

posted by Yahoo! News Search Results for dividends on Jul 30

NEW YORK----The board of directors of Merrill Lynch & Co., Inc. declared a regular quarterly dividend of 35 cents per common share payable September 3, 2008, to shareholders of record on August 14, 2008.

posted by Yahoo! News Search Results for dividends on Jul 30

Aspen Insurance Holdings Limited (the "Company") (NYSE:AHL) today announced that its Board of Directors declared a quarterly cash dividend on its ordinary shares of US$0.15 per ordinary share. The dividend is payable on August 27, 2008 to the holders of record as of the close of trading on August 12, 2008.

posted by Yahoo! News Search Results for dividends on Jul 30

ALLEN PARK -- The Lions' offseason conditioning program and the practice habits stressed by head coach Rod Marinelli have paid dividends in the first week of training camp.

posted by Yahoo! News Search Results for dividends on Jul 30

Question: I agree that it is misleading for planners to show clients results of their global portfolio compared with the raw S&P 500, stripped of dividends. Does the Mole have a suggested alternative for the best way to show clients the results of their global portfolio?