VF to issue regular quarterly dividend of 59 cents, payable on Sept. 18GREENSBORO, N.C. — Apparel maker VF Corp. on Tuesday declared a regular quarterly dividend of 59 cents, payable on Sept. 18 to shareholders of record as of Sept. 8. General Electric’s 2Q profit tumbles 49 pct on finance unit struggles, weak demand for goodsGeneral Electric Co.’s second-quarter profit was sliced nearly in half, the company said Friday, as the recession drove down earnings at its finance unit and smothered demand for its wide-ranging industrial goods. General Electric’s 2Q profit tumbles on finance unit struggles, weak demand for goodsGeneral Electric Co.’s second-quarter profit was sliced nearly in half, the company said Friday, as the recession drove down earnings at its finance unit and smothered demand for its wide-ranging industrial goods. BofA posts profit of $2.4 billion, beating estimates, in sign banks may be recoveringCHARLOTTE, N.C. — Bank of America joined other major banks in reporting better-than-expected second quarter income Friday, earning $2.42 billion even as losses from failed loans continued to rise. Abbott Laboratories’ 2nd-quarter profit falls on charges but lead drug regains sales momentumDrug developer and medical device maker Abbott Laboratories said Wednesday its second-quarter profit fell 3 percent on a mix of buyout charges and lower drug sales, but the results still met Wall Street forecasts. GMAC declares dividends on preferred stock issued to both Treasury and a subsidiaryDETROIT — GMAC Financial Services says it declared quarterly dividend payments on preferred stock issued to the federal government and to its own subsidiary, Preferred Blocker Inc. Walgreen raises quarterly dividend by 22 percent, to 13.75 cents from 11.25 centsDEERFIELD, Ill. — Drugstore operator Walgreen Co. is raising its quarterly dividend by about 22 percent, to 13.75 cents from 11.25 cents. Commercial truck maker Paccar cuts dividend to 9 cents from 18 centsBELLEVUE, Wash. — Paccar Inc. said Tuesday that its board has halved the commercial truck maker’s quarterly dividend to 9 cents per share, from 18 cents. Timber company Weyerhaeuser slashes dividend 80 percent, stock plungesNEW YORK — Weyerhaeuser Co., which has been hemorrhaging cash because of the moribund U.S. housing market, said Tuesday it is cutting its quarterly dividend again, this time by 80 percent. Bank of America authorizes $713 million payment to government under TARPCHARLOTTE, N.C. — Bank of America Corp. said Thursday its board has authorized roughly $713 million in dividend payments to the U.S. government under the troubled asset relief program. Senior Housing Properties Trust raises quarterly dividend by a penny to 36 centsNEWTON, Mass. — Senior Housing Properties Trust said it raised its quarterly dividend by a penny to 36 cents. General Mills increases quarterly dividend 9.3 percent to 47 centsMINNEAPOLIS — General Mills is increasing its quarterly dividend by 9.3 percent. ALL BUSINESS: Tools for investors to use to understand finances of the nation’s banksNEW YORK — Confused about the state of the banking crisis? About whether good banks are back, or bad banks are multiplying? BofA plans to complete debt exchange soon, boosting capital by more than $33.9B Feds requiredCHARLOTTE, N.C. — Bank of America Corp. said Thursday it will raise more money than the government said it needed in order to withstand a deepening recession. Clorox boosts dividend payment 9 percent to 50 cents, confirms fiscal 2010 outlookNEW YORK — Clorox Co., the maker of bleach and other household products, said Thursday that it boosted its dividend 9 percent to 50 cents per share and is on track to deliver financial results for fiscal 2010 in line with previous guidance. 10 banks returning $68B in bailout cash; gov’t makes money, but analysts warn crisis not overWASHINGTON — Ten of the nation’s biggest financial companies got a green light Tuesday to return $68 billion in federal bailout money — freeing the banks from limits on executive pay and leaving the government with a small gain on the rescue cash. Staples declares quarterly dividend of 8.25 cents, payable July 16FRAMINGHAM, Mass. — Staples Inc. on Tuesday declared a regular quarterly dividend of 8.25 cents per share, payable July 16 to shareholders of record June 26. BT to cut 15,000 more jobs after posting 4Q loss of 977 million poundsLONDON — Telecommunications company BT Group PLC said Thursday it expects to cut another 15,000 jobs in the next year after its Global Services division dragged the company to a fourth quarter loss of nearly 1 billion pounds. Verizon to sell rural phone lines in 14 states to Frontier for $5.3 billionNEW YORK — Verizon Communications Inc. said Wednesday it reached a deal to sell scattered phone service areas outside its main Northeastern and Californian territories for $5.3 billion in stock. BB&T to offer $1.5 billion in stock, slash dividend to help repay government investmentWINSTON-SALEM, N.C. — BB&T says it will sell $1.5 billion in common shares to help repay the government’s investment in its preferred stock and warrants through the U.S. Treasury’s TARP Capital Purchase Plan. “Stress tests” show Cleveland-based KeyCorp needs $1.8B in new capital if recession worsensCLEVELAND — Results of the federal government’s “stress tests” of the nation’s largest regional banks show Cleveland-based KeyCorp needs to raise $1.8 billion in new capital to withstand losses if the recession gets worse. Dow Chemical to offer debt securities to cut debt, payoff preferred shareholdersNEW YORK — Dow Chemical Co. announced a plan Friday to retire preferred shares used for its recent buyout of Rohm & Haas, a move that will save it millions in dividend payments. Bank of America shares surge ahead of stress test results; 2 analysts upgrade stockNEW YORK — Shares of Bank of America Corp. continued their rapid climb Thursday, hours ahead of the expected announcement of bank stress test results and following a pair of analyst upgrades. Bank of America shares rise in premarket trading amid reports it needs $34 billion in capitalNEW YORK — Bank of America Corp. stock rose as investors appeared comforted by reports that the bank has the means to cover a potential $34 billion shortfall in capital. Channel Tunnel linking England and France marks 15th anniversary _ finally in the blackUNDER THE ENGLISH CHANNEL — After three years of sweat and toil, Philippe Cozette tunneled into history one wintry day in 1990, using a compressed air drill to power through the last chunk of chalk marl separating undersea tubes extending from the shores of Calais in France to the white cliffs of Dover in England. Business HighlightsRetailers see sales begin to recover in September NEW YORK (AP) — The nation’s stores saw their first sales gain in 14 months in September, a sign of life from shoppers that fuels some hope for the holiday shopping season. Safeway 1st-quarter net income falls 25 percent on stronger dollar, lower fuel pricesPORTLAND, Ore. — Grocery store operator Safeway Inc. said Thursday that weak consumer spending, the stronger dollar, lower fuel prices and the late Easter holiday caused its first-quarter profit to fall 25 percent. Kodak reports wider 1Q loss of $353M, suspends dividend, workers must take unpaid week offROCHESTER, N.Y. — Eastman Kodak Co. scrapped its dividend and trimmed the salaries of top executives Thursday, blaming the global economic downturn for a wider first-quarter loss and sliding sales of digital cameras and other photography products. Its stock fell 15 percent. Shell oil reports first quarter profits fell 62 percent to $3.49 billionAMSTERDAM — Europe’s largest oil company, Royal Dutch Shell PLC, on Wednesday reported a 62 percent drop in first-quarter net profit as oil prices fell sharply amid a global economic downturn. Detroit Free Press publisher Hunke named to top post at USA Today, Hillkirk named editorMcLEAN, Va. — Fresh off a Pulitzer Prize win for his newspaper, Detroit Free Press Publisher David Hunke was appointed Tuesday to head the nation’s largest newspaper, USA Today. |
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