posted by Yahoo! News Search Results for dividends on Feb 26
The Board of Directors of Apache Corporation has declared regular cash dividends on the company's common shares and Series B Cumulative Preferred Stock.Archive for February, 2009
posted by Yahoo! News Search Results for dividends on Feb 26
DELAWARE, Ohio (Feb. 23, 2009) - The Board of Directors of Greif, Inc. (NYSE: GEF, GEF.B) today declared quarterly cash dividends of $0.38 per share of Class A Common Stock and $0.57 per share of Class B Common Stock. The dividends are payable on April 1, 2009 , to shareholders of record at close of business on March 17, 2009 . About Greif Greif, Inc. is a world leader in industrial packaging ...posted by Yahoo! News Search Results for dividends on Feb 26
Feb. 26 (Bloomberg) -- Asian companies may cut their dividends by a further 25 percent amid slowing earnings growth, even as yields climb to the highest in more than two decades, UBS AG said.posted by Yahoo! News Search Results for dividends on Feb 26
Q. Please advise me if my reinvested stock dividends become part of the cost basis when I sell the stock. Yes, reinvested stock dividends are included when you calculate the cost basis of the stock. The shares earned as dividends reduce the basis in the stock.posted by Yahoo! News Search Results for dividends on Feb 25
Feb. 25 (Bloomberg) -- U.S. stocks fell as dividend cuts triggered a sell-off in insurers and an unexpected drop in home sales dragged down industrial shares, overshadowing speculation that banks will pass the government’s so-called stress tests.posted by Yahoo! News Search Results for dividends on Feb 25
Feb. 25 (Bloomberg) -- U.S. stocks fell as dividend cuts triggered a sell-off in insurers and an unexpected drop in home sales dragged down industrial shares, overshadowing speculation that banks will pass the government’s so-called stress tests.posted by Walden Siew on Feb 25
Roman Catholics have fish Fridays. Boxing fans have Friday Night Fights. For distressed investors, like Jon Winick, president of Clark Street Capital, there’s Friday night Failure.
“You can count of Friday failures for the next six to twelve months,” Winick said at a distressed investing conference in New York this week. He forecasts bank failures to rise to 200 through next year.
There have been 14 bank failures so far this year, according to the Federal Deposit Insurance Corp, with filings every Friday since Jan. 16 after the year end and New Year’s Day holidays.
The FDIC seized 25 banks last year. In just the first seven weeks of 2009, the 14 bank failures mean the FDIC is on pace to close more than 100 banks in 2009.
Distressed investors say they are expecting a record wave of bankruptcies this year, marking unprecedented opportunity for investors and a feeding frenzy on Fridays. The filings on Fridays are procedural, as the FDIC posts the failures at the end of the week. That allows the declaring bank to give regulators the weekend to sort things out, and it prevents a big run on the bank because branches are closed.
Brad Hunter, national director of consulting at Metrostudy, a housing industry research firm, thinks things are just getting started. He said bank takeovers ultimately could exceed 1,000.
“Option ARM loans are coming due, and that will trigger another wave of foreclosure,” he said.
posted by Chris Kaufman on Feb 25
Former AIG CEO Hank Greenberg has had plenty of nasty things to say about what he sees as government mismanagement of his once mighty empire. AIG’s slash-and-burn asset sales are finding only tepid interest in a global market struggling to keep its head above water. Michael Flaherty reports that only three potential bidders are still interested in a large stake in AIG’s $20 billion Asian life insurance unit, with the auction heading into its final week and hopes for a sale fading fast.
This should worry Citigroup shareholders concerned about the government’s intentions toward the bank. Reports are surfacing that Citi may sell its Japanese investment bank and brokerage as it looks to raise more cash from a sale of global assets. Having been taken to task for keeping the naming rights to the New York Mets’ new baseball park — something any big retail company might consider a reasonable marketing expense — Citi execs are reported scratching their heads, trying to figure out what hoops the government wants them to jump through. Markets hate uncertainty, so the current ambiguity about what Washington wants is particularly hard to stomach.
Like many a routine financial blog, DealZone has danced around the definition of nationalization. Reader Alan Macdonald argues we should refer to the process as “democratization.” Pundits are increasingly suggesting the process should be considered more a government receivership, which has a less onerous and deathly long-term tone than nationalization.
The Obama administration has resisted referring to what the government will do with the banks as nationalization. Addressing Congress last night, President Barack Obama said the goal of any government involvement in bailing out the financial sector must be to get lending going again. Presumably, he was not talking about the same lending market that supplied the financial amphetamines for the bubble that burst last year.
A few hours before Obama’s address, senators took taxpayer-funded Northern Trust to task over millions it spent at a golf tournament, so it’s obvious there are still a few political pounds of flesh to be rung out of the money industry. Perhaps the biggest problem facing the salvation of modern finance is the ambiguity of the political arena.
Other Deals News:
* Lawson Inc, Japan’s second-largest convenience store chain, said on Wednesday it has agreed to acquire smaller rival am/pm Japan Co for $149 million, boosting its presence in Tokyo area.
* A fund created by French president Nicolas Sarkozy to come to the rescue of companies hit by the credit crisis unveiled its first investment, saying it had bought 2.35 pct of car parts maker Valeo for 19 mln euros.
* British Airways would accept a 55 percent stake in the enlarged company resulting from a planned merger with Spanish carrier Iberia, the El Economista newspaper reported.
* Sanofi-Aventis finally clinched its $2 billion takeover of Czech drugmaker Zentiva on Wednesday, boosting its presence in generic medicines and setting the stage for further acquisitions.
* South Korea’s KT Corp said it would buy back $330 million worth of shares and pledged hefty shareholder returns to defend its share prices ahead of a planned merger with its mobile unit KTF.
* A federal bankruptcy judge approved the sale of luxury retailer Fortunoff Holdings LLC to a group of seven liquidators, setting the stage for it to begin liquidating as early as Wednesday.
(PHOTO: The dome of the US Capitol is visible through a window on Capitol Hill in Washington, February 24, 2009. REUTERS/Jonathan Ernst)
posted by Laurence Fletcher on Feb 25
By Simon Falush
So you thought safe-haven pharmaceuticals and food producers were a safe place to shelter your assets?
Think again, says Crispin Odey, the well-known hedge fund manager who thrives on a contrarian approach to equity investing. He tells Reuters that defensives could be the next target for short sellers.
"I certainly wouldn't own them and they look like they're becoming interesting shorts. It's an interesting bit of the market that people aren't looking at."
He says that the traditional flight to safety for equity investors into stocks like pharmaceuticals and food producers may end in more fingers being burnt. He points out that defensive companies have high price/earnings ratios meaning that there's plenty of scope for selling.
"What we have is the death of safety... (Defensives) look dangerous. You can either wait 17 years to get your money back or you can wait 2.6 years. What would you rather do?" Odey says.
"When you're hitting new lows for the market you're anticipating that you should be moving into defensives, but actually it looks like they're the dangerous places."
Odey's European fund rose 10.9 percent last year helped by short positions on banks but earlier this month he said he has been buying UK banks because they are now so cheap.
posted by Yahoo! News Search Results for dividends on Feb 25
WASHINGTON: The Fed is cautioning banks that they need to be watchful when they are to shell out dividends to shareholders. In a letter yesterday the Fed asked the banks that they should consult with it before they plan to pay any dividends that could weaken the health of the banks.
