posted by Yahoo! News Search Results for dividends on Sep 7
This simple secret can reveal a company's true generosity.Archive for the ‘Dividend News’ Category
posted by Yahoo! News Search Results for dividends on Sep 7
Evaluating the sustainability of dividend payments.posted by Yahoo! News Search Results for dividends on Sep 7
More U.S. stocks are paying dividends that exceed bond yields than any time in at least 15 years as profits rise at the fastest pace in two decades.posted by Yahoo! News Search Results for dividends on Sep 7
HOUSTON--(BUSINESS WIRE)--The Board of Trustees of each of the Invesco closed-end funds listed below today declared the following dividends. Please note the funds changed name from Morgan Stanley to Invesco on June 1, 2010. RECORD DATE9/17/10 PAYABLE DATE9/24/10 Name of Closed-EndManagement Investment Company Ticker Income DividendAmount Per Share(monthly) Invesco California Insured Municipal ...posted by Yahoo! News Search Results for dividends on Sep 7
We're evaluating the sustainability of dividend payments.posted by Eric Martyn on Sep 7
China’s state-owned chemicals group Sinochem has approached Singapore state investor Temasek to join a consortium that may bid for Potash, sources said. It was unclear if this potential consortium will bid to buy a blocking stake or make a full counter offer. *View article
Air Products raised its bid for Airgas to $5.5 billion, the latest salvo in its hostile move on the rival company. *View article
The Justice department is looking into Google’s takeover of airline ticketing software firm ITA Software Inc, to determine whether the deal would exert too much influence on the online travel industry. *View WSJ article *View scores.org graphic on Google’s acquisitions
The WSJ takes a look at Berkshire Hathaway’s bid for Wesco Financial. “This begins as a Warren Buffett love story. The intriguing question is whether it ends that way,” reports the WSJ. *View WSJ article *View additional article on the deal
posted by Yahoo! News Search Results for dividends on Sep 7
I decided to look for stocks that are an attractive alternative to t-notes for income-oriented investors. To do so I first looked for those firms that are currently yielding more than 2.71%, the t-note yield on Friday.posted by Felix Salmon on Sep 7
Mike Spector and Tom McGinty have a big piece in the WSJ looking at the role of hedge funds in bankruptcy negotiations. They're not fans:
The bankruptcy process was created decades ago as a way to give ailing businesses a chance to heal and creditors a shot at repayment. Hedge funds and other big investors have transformed it into something else: a money-making venue where, after buying up distressed companies' debt at a deep discount, they can ply their sophisticated trading techniques in quest of profits...
To some in the bankruptcy bar, the investors' tactics are an affront to a tradition meant to nurse companies back to health and save jobs. At worst, say critics, the involvement of distressed-debt investors can turn a bankruptcy case into an insiders' game, putting at a disadvantage other creditors and even the judge...
Testifying this February before the judiciary panel rewriting disclosure rules, Judge Gerber urged strong regulation: "The notion that the transparency and integrity of the bankruptcy system upon which people have relied for decades can be abandoned or cut back to serve investors' desires is very troublesome to me. In fact, it's downright offensive."
Bankruptcy cases can, like most contested litigation, become highly contentious things. But the thing which bothers me about the article is that it seems to assume that if hedge funds profit by trading in and out of debt over the course of these cases, then the company itself is likely to be the loser. And that doesn't ring true to me: the aim here is generally to maximize the recovery for the class of creditors which ends up with control of the company. And that, in turn, means maximizing the value of the company.
To a first approximation, control of the company will pass to a certain class of creditors, and that class, along with everybody senior to that class, can normally be considered winners. Meanwhile, everybody junior to that class is likely to come out a loser.
When it comes to the company itself, however, along with its customers, suppliers, employees, and other stakeholders, things aren't nearly that simple. There's a case to be made -- although the WSJ fails to even attempt to make it -- that the longer and more acrimonious the bankruptcy process, the worse things are for the company in question. If that's true, then the presence of lots of highly-litigious hedge funds with differing economic interests is likely to hurt the company.
There's also the possibility that the existence of lots of CDS holders will make any restructuring that much more difficult.
But ultimately I think this is something which needs to be looked at empirically, rather than anecdotally. Is there any concrete evidence that the costs of bankruptcy have risen, from the point of view of the companies being restructured?
If that's too hard to find, then is there at least any evidence that companies are spending longer in bankruptcy, and that spending more time in bankruptcy is ultimately harmful to their economic value?
It's not in and of itself a bad thing when hedge funds are making money in bankruptcy negotiations -- especially if ultimately they're making a private-equity play, looking to take operating control of a company rather than remaining passive investors. So while this is a subject worthy of serious investigation, I'd love to see it written about much more from the companies' point of view than from the hedge funds'. Only then will we know whether significant damage is being done.
posted by Yahoo! News Search Results for dividends on Sep 7
TORONTO, ONTARIO--(Marketwire - 09/07/10) - IESI-BFC Ltd. (the "Company") (TSX: BIN - News )(NYSE: BIN - News ) today declared regular cash dividends of Canadian $0.125 per share, payable on October 15, 2010 to shareholders of record at the close of business on September 30, 2010. The Company has designated these dividends as eligible dividends for the purposes of the Income Tax Act (Canada ...posted by Yahoo! News Search Results for dividends on Sep 7
TORONTO, ONTARIO--(Marketwire - 09/07/10) - IESI-BFC Ltd. (the "Company") (TSX: BIN - News )(NYSE: BIN - News ) today declared regular cash dividends of Canadian $0.125 per share, payable on October 15, 2010 to shareholders of record at the close of business on September 30, 2010. The Company has designated these dividends as eligible dividends for the purposes of the Income Tax Act (Canada ...
