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Bexley Public Radio Dividend Note No. 12, November 1, 2009.
An occasional note on dividends. This is an informal collection of some information on dividend increases for mostly U.S. stocks.
Bexley Public Radio hopes this is a positive note amidst the dreadful reports from Wall Street during the last year.
No commentary, analysis or recommendation is offered in this informal journal.
AMCON Distributing Company (AMEX:DIT) October 30, 3009, a consumer products distributer, has increased its quarterly cash dividend by 80% to USD 0.18 per common share. The new dividend will be paid on 30 November 2009 to all shareholders of record as of 9 November 2009. Simultaneously, the board approved a share repurchase program of up to 50,000 shares of the company's common stock, which may be purchased in open market or negotiated transactions from time to time.
American Financial Group (NYSE: AFG) October 26, 2009. Directors approved an increase in the company's annual dividend for 2010 from $.52 to $.55 per share of common stock. The increased dividend, when declared, will be paid on a quarterly basis of $.1375 per share of common stock. This will be the fifth consecutive annual dividend increase for the Company. The new dividend rate represents a six percent increase over the dividend paid in 2009.
American States Water Company (NYSE:AWR) October 28, 2009 announced a 4% increased quarterly dividend of USD 0.26 per share of common stock, from the previous USD 0.25 per share.
The dividend will be paid on 1 December 2009 to all shareholders of record at the close of business on 12 November 2009.
American States Water said that its shareholders have received an aggregate annual increase in their dividends for over 55 consecutive years and this dividend marks the 294th consecutive dividend payment.
APCapital (NASDAQ: ACAP) October 29, 2009. The company increased its quarterly dividend 9% to $0.09/share. The dividend is payable on December 31, 2009 to shareholders of record on December 11, 2009. The yield based on the new payout is 1.22%. APCapital provides medical professional liability insurance in the U.S.
Artesian Resources Corporation (Nasdaq: ARTNA) October 20, 2009 approved a 5% increase in the Class A Non-Voting and Class B Common shareholders' dividend, raising the annual dividend to $0.7492 per share. The quarterly dividend of $0.1873 per share is payable November 20, 2009 to shareholders of record at the close of business on November 10, 2009. This is the 68th consecutive quarterly
dividend paid to shareholders.
Dian C. Taylor, Chair, President and CEO of Artesian Resources said, "The dividend increase underscores the financial strength of Artesian Resources and our long-standing commitment to deliver increased value to our shareholders, even in this difficult economic environment."
Artesian Resources Corporation operates as the holding company of eight wholly-owned subsidiaries offering water, wastewater and engineering services on the Delmarva Peninsula. Artesian Water Company, the principal subsidiary, is the oldest and largest investor-owned public water utility on the Delmarva Peninsula, and has been providing water service since 1905.
Bank of Marin Bancorp (NASDAQ: BMRC) October 26, 2009 declared an increased quarterly cash dividend of $0.15 per share, up from $0.14 in the second quarter. Bancorp achieved record earnings of $3.6 million in the
third quarter driven by strong deposit and loan growth of 11.8% and 9.6%, respectively, as compared to one year ago. The cash dividend is payable on November 13, 2009 to shareholders of record at the close of business on November
2, 2009.
"Bank of Marin Bancorp is pleased to reward our shareholders with an increased cash dividend and continue our track record of offering a dividend for 18 consecutive quarters," said Russell Colombo, President and Chief Executive Officer. "We continue to focus on the fundamentals of conservative, prudent banking and are proud to deliver on the promises we make to our shareholders,
our customers and the communities we serve."
Bank of Marin Bancorp's assets currently exceed $1 billion. Bank of Marin, as the sole subsidiary of Bancorp, operates thirteen branch offices in California and a commercial loan production office in San Francisco. The Bank's Administrative offices are located in Novato, California and its Wealth Management Services are located in Greenbrae, Novato and Petaluma, California. Bank of Marin is included in the Russell 2000 Small-Cap Index, is recognized as one of thirty top performing small-cap banks by Sandler O'Neill + Partners, and has received the highest five star rating from Bauer Financial for 41 consecutive quarters.
Brandywine Realty (NYSE: that BDN) October 28, 2009 bumped its quarterly payout to $0.15/share. The yield based on the new payout is 6.10%. Brandywine is a real estate investment trust that owns, manages or has ownership interests in office and industrial properties aggregating some 38 million square feet.
Brooklyn Federal Bancorp, Inc. , (NASDAQ: BFSB) October 20, 2009 the parent company of Brooklyn Federal Savings Bank , approved a cash dividend of $0.11 per share of common stock, which represents a 10.0% increase, or $0.01, from the dividend paid on August 28, 2009.
Digital Realty Trust, Inc. (NYSE: DLR), October 23, 2009 a leading owner and manager of corporate datacenters and Internet gateways, today announced that its Board of Directors has authorized quarterly common and preferred stock dividends for the fourth quarter of 2009.
"As a result of our continuing strong financial performance, we are increasing the quarterly common stock dividend by 25.0% to $0.45 per share in anticipation
of increased REIT taxable income and distribution requirements for 2010," commented A. William Stein, Chief Financial Officer and Chief Investment Officer of Digital Realty Trust. "This is in addition to the 9.1% common stock dividend increase we announced last quarter."
Digital Realty Trust's Board of Directors authorized a quarterly common stock dividend of $0.45 per share to common stockholders of record as of the close of business on December 15, 2009. This represents an increase of $0.09 per share, or 25.0%, over the Company's previous quarterly dividend of $0.36 per share. The common stock dividend will be paid on January 15, 2010.
Dreyfus High Yield Strategies Fund (NYSE: DHF) October 28, 2009, the Board of Trustees of DHF declared from net investment income a monthly cash dividend of $0.035 per share of beneficial interest, payable on November 30, 2009 to shareholders of record at the close of business on November 12, 2009. The ex-dividend date is November 9, 2009. The $0.035 per share investment income dividend represents an increase of $0.005 from the previously declared monthly net investment income dividend of $0.03 per share.
The dividend increase is due primarily to income earned on DHF`s portfolio securities and an increase in leverage. DHF`s accumulated undistributed investment income-net was approximately $6.3 million as of September 30, 2009.*
Eaton Vance Corp. (NYSE: EV) October 21, 2009 today declared a quarterly dividend of $0.16 per share
on its common stock, an increase of 3 percent over the previous $0.155 per share quarterly dividend. The dividend is payable November 13, 2009 to shareholders of record on October 30, 2009.
This dividend increase marks the 29(th) consecutive fiscal year that the Company has raised its dividend.
Eaton Vance Corp. is one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $157.0 billion in assets as of September 30, 2009, offering individuals and institutions a broad array of investment products and wealth management solutions. The Company's long record of providing exemplary service and attractive returns through a variety of market conditions has made Eaton Vance the investment manager of choice for many of today's most discerning investors.
Ecology and Environment, Inc., (NASDAQ: EEI) October 20, 2009 has declared an increase of their semi-annual dividend to $0.21 cents per share, or $0.42 annualized.
The dividend is payable on or before December 30, 2009, to shareholders of record as of December 8, 2009. The ex-dividend is December 4, 2009.
The dividend yield is 2.6%.
Ecology and Environment, Inc., an environmental consulting firm, provides professional services to the government and private sectors worldwide.
El Paso Pipeline Partners LP (NYSE: EP) October 19, 2009 increased its third-quarter quarterly cash dividend to 35 cents per share. That's up from 33 cents per share in the second quarter and 30 cents per share in the third quarter a year ago. The dividend, which works out to $1.40 annually, will be paid Nov. 13 to shareholders of record as of Oct. 30. El Paso is a natural gas transportation company.
First Keystone Corporation (OTC BB:FKYS), October 30, 2009 parent company of First Keystone National Bank, reported net income of $2,086,000 for the quarter ending September 30, 2009, as compared to $2,227,000 for the third quarter of 2008. Earnings per share for the quarter ending September 30, 2009 were $.39, as compared to $.41 per share earned in the third quarter of 2008. Cash dividends paid as of September 30, 2009 were $.69 per share as compared to $.66 in the first three quarters of 2008, an increase of
4.6%.
First Keystone National Bank, an independently owned community bank since 1864, presently operates 15 full service offices in Columbia (5), Luzerne (5), Monroe (4), and Montour (1) Counties providing banking and trust services. In Monroe County, the Bank trades as Pocono Community Bank, a division of First Keystone National Bank. The bank`s newest office in Mountain Top, Pennsylvania, opened as of October 1, 2009. Inquiries regarding the purchase of the company`s stock may be made through the
following brokers: RBC Dain Rauscher, 800-223-4207; Janney Montgomery Scott, Inc., 800-526-6397; Boenning & Scattergood, Inc., 800-883-8383; and Stifel Nicolaus & Co. Inc., 800-223-6807.
FPB Financial Corp. (PINKSHEETS: FPBF) October 27, 2009 the holding company for Florida Parishes Bank, announced earnings for the three months ended September 30, 2009. Net income for the third quarter was $887,000; ($2.47 per diluted common share), up 259% from $247,000; ($0.70 per diluted common share) for the 2008 comparable period. Fritz W. Anderson II, Chairman of the Board announced today that "On October 8, 2009 (Declaration Date) the Board of Directors of FPB Financial Corp. declared a cash dividend on the common stock of the company bearing Cusip #302549 10 0. The dividend rate increased to $0.36 per share. This dividend rate is composed of a regular quarterly dividend rate of $0.14 per share and a special year-end dividend of $0.22 per share and will be paid on December 24, 2009. (Payable Date) to stockholders of record December 10, 2009. (Record Date)."
The Hanover Insurance Group, Inc. (NYSE: THG) October 20, 2009 today declared an annual dividend of 75 cents ($0.75) per share on the issued and outstanding common stock of the company, payable December 9, 2009, to shareholders of record at the close of business on November 25, 2009. This represents an increase of 30 cents, or 67% from the dividend paid last year.
The board also authorized a change in the company's dividend payment schedule from a single annual cash dividend to quarterly dividend payments, subject to
subsequent board authorization and declaration each quarter, beginning in fiscal year 2010.
Inergy LP (NASDAQ: NRGY) LLC, and its managing general partner October 26, 2009 announced an increase in the company’s quarterly cash distribution to $0.675 per limited partner unit, of $2.70 annualized.
The distribution will be paid on November 13, 2009, to unitholders of record as of November 6, 2009. The ex-dividend date is November 4, 2009.
This represents the 32nd consecutive quarterly increase and an approximate 6.3% increase over the distribution for the same quarter of the prior year. Inergy, L.P. operates as an energy infrastructure and distribution company.
Matthews International Corporation (Nasdaq: MATW) October 22, 2009 declared a quarterly dividend of $0.07 per share on the Company's common stock. The quarterly dividend has been increased one-half cent per share from $0.065 to $0.07. The dividend is payable November 16, 2009 to stockholders of record November 2, 2009.
Joseph C. Bartolacci, President and Chief Executive Officer, stated, "Despite the challenges of fiscal 2009, we continue to have confidence in our long-term strategies. Accordingly, Matthews believes a modest increase in our dividend is appropriate." Mr. Bartolacci noted that this was the Corporation's 15th dividend increase since Matthews became a publicly traded stock in July 1994.
Matthews International Corporation, headquartered in Pittsburgh, Pennsylvania, is a designer, manufacturer and marketer principally of memorialization products and brand solutions. Memorialization products consist primarily of
bronze memorials and other memorialization products, caskets and cremation equipment for the cemetery and funeral home industries. Brand solutions include graphics imaging products and services, marking products, and merchandising solutions. The Company's products and services include cast bronze memorials and other memorialization products; caskets; cast and etched architectural products; cremation equipment and cremation-related products; mausoleums; brand management; printing plates and cylinders, pre-press services and imaging services for the primary packaging and corrugated industries; marking and coding equipment and consumables, and industrial automation products for identifying, tracking and conveying various consumer and industrial products, components and packaging containers; and
merchandising display systems and marketing and design services.
MBIA Capital/Claymore Managed Duration Investment Grade Municipal Fund (NYSE: MZF), October 21, 2009 a closed-end management investment company, announced that it is increasing its monthly dividend by 10% to $0.0825 per common share. This increased dividend rate will apply to the November 2009, December 2009 and January 2010 distributions and represents an annualized distribution rate of 7.72% based upon the closing market price of $12.83 on October 20, 2009.
The Fund`s one-year total return was 28.65% based on NAV and 42.33% based on market price. The Fund`s three-year annualized total return was 4.44% based on NAV and 7.23% based on market price. The Fund`s five-year annualized total return was 4.99% based on NAV and 5.37% based on market price. The aforementioned returns assume reinvestment of dividends and are as of September
30, 2009. Past performance is not indicative of future performance.
The November 2009 dividend will be paid on November 30, 2009 to shareholders of record as of November 13, 2009 with an ex-dividend date of November 10, 2009. The December 2009 dividend will be paid on December 31, 2009 to shareholders of record as of December 15, 2009 with an ex-dividend date of December 11, 2009. The January 2010 dividend will be paid on January 29, 2010 to shareholders of record as of January 15, 2010 with an ex-dividend date of January 13, 2010. If it is determined that a notification is required, pursuant to Section 19(a) of the Investment Company Act of 1940, as amended, such notice will be posted to the Fund`s website after the close of business three business days prior to the payable date.
MBIA Capital Management Corp. is the Fund's Investment Adviser. Based in Armonk, NY, MBIA specializes in the management of fixed-income securities, with $43 billion in fixed-income assets under management as of September 30, 2009. Founded in 1994, MBIA Capital Management Corp. maintains a particular expertise in investment-grade municipal bond investing, and is a wholly-owned subsidiary
of MBIA Inc.
Claymore Securities, Inc. is a privately-held financial services company offering unique investment solutions for financial advisors and their valued clients. Claymore entities have provided supervision, management, and/or
servicing on approximately $13.3 billion in assets, as of September 30, 2009. Claymore currently offers closed-end funds, unit investment trusts and exchange-traded funds. To learn more about Claymore`s closed-end funds, please
visit www.claymore.com/cef. Registered investment products are sold by prospectus only and investors should read the prospectus carefully before investing.
Middlefield Banc Corp.(Pink Sheets: MBCN), October 21, 2009 parent of The Middlefield Banking Company and Emerald
Bank, today announced the following results for the third quarter ended September 30, 2009. In the first nine months of 2009, Middlefield paid cash dividends of $0.78 per
share. This represents only a slight increase over the $0.77 per share paid during the first nine months of 2008.
Middlefield Banc Corp. headquartered in Middlefield, Ohio is a multi-bank holding company with total assets of $517.9 million. The company's lead bank, The Middlefield Banking Company, operates full service banking centers and a UVEST Financial Services® brokerage office serving Chardon, Cortland, Garrettsville, Mantua, Middlefield, Newbury, and Orwell. The company also serves the central Ohio market through its Emerald Bank subsidiary, with offices in Dublin and Westerville, Ohio.
Northeast Indiana Bancorp, Inc., (OTC Bulletin Board: NIDB), October 30, 2009 the parent company of First Federal Savings Bank, has announced that the Corporation will pay a cash dividend of $0.17 per common share. This represents a 3.0% increase over the Company's previous quarter dividend of $0.165 per common share. The dividend will be payable on November 24, 2009 to shareholders of record on November 10, 2009.
Commenting on the increased cash dividend, Northeast Indiana Bancorp Chairman and CEO Stephen E. Zahn stated "The Company continues to earn the dividend as evidenced by $1.60 earnings per common share over the past four quarters. The Board of Directors continues to have confidence in the Company's operating performance and elected to reward shareholders with an increased cash
dividend".
The book value of NIDB's stock was $18.60 per common share as of September 30, 2009. The last reported trade of stock at the close of business on October 29, 2009 was $11.47 per common share and the number of outstanding shares was
1,230,670 as of the same date. The annualized dividend yield is currently 5.9% when annualizing the current quarter cash dividend of $0.17 per common share against the October 29, 2009 closing price of $11.47 per common share.
Northeast Indiana Bancorp, Inc. is headquartered at 648 N. Jefferson Street, Huntington, Indiana. The company offers a full array of banking and financial brokerage services to its customers through its main office in Huntington and
four full-service Indiana offices in Huntington (2), Warsaw and Fort Wayne. The Company is traded on the Over the Counter Bulletin Board under the symbol "NIDB". Our web site address is www.firstfedindiana.com.
Northwest Natural Gas Company (NYSE: NWN), October 27, 2009 has increased the quarterly dividend on the company's common stock to 41.5 cents from 39.5 cents per share, an increase of 5 percent. The dividends will be paid Nov. 13, 2009, to shareholders of record on Oct. 30, 2009.
NW Natural will have paid $1.60 per share in dividends on its common stock in 2009, the 54th consecutive year in which the company's dividend payments have increased. The indicated annual dividend rate is now $1.66 per share.
Northwest Natural Gas Company, doing business as NW Natural, engages in the storage and distribution of natural gas in Oregon, Washington and California.
Peabody Energy (NYSE: BTU) October 22, 2009 on Thursday raised its regular quarterly dividend 17 percent to 7 cents per share. The dividend is payable on Nov. 27 to holders of record Nov. 5, the coal producer said. Shares of the company fell 99 cents, or 2.2 percent, to $43.90.
Perrigo Company (Nasdaq: PRGO;TASE) October 29, 2009 announced that its Board of Directors declared a quarterly dividend of $0.0625 per share, payable on December 15, 2009 to shareholders of record on November 27, 2009. The new quarterly dividend of $0.0625 per share represents a twelve percent increase over $0.055 per share paid in the last four quarters. Perrigo Company is a leading global healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) and generic prescription pharmaceuticals, nutritional products, active pharmaceutical ingredients (API) and consumer products. The Company is the world's largest manufacturer of OTC pharmaceutical products for the store brand market. The Company's primary markets and locations of manufacturing facilities are the United States, Israel, Mexico and the United Kingdom.
Plains All American Pipeline (NYSE:PAA) October 19, 2009 announced its quarterly distribution of 92 cents per share, an increase of about 2% over its prior distribution in July of 90.5 cents.
Prosperity Bancshares, Inc.® (Nasdaq: PRSP) October 26, 2009 the parent company of Prosperity Bank®, announced an increase of their regular cash dividend to $0.62 per share per year. The fourth quarter cash dividend of $0.155, an increase of 12.7%, is payable on January 4, 2010 to all shareholders of record as of December 18, 2009.
"We are pleased to be able to reward our shareholders with an increase of our annual cash dividend again this year," said David Zalman, Chairman and Chief Executive Officer of Prosperity. "This step, taken by our Board of Directors, displays our confidence in our continued financial strength during this volatile time in the financial industry. Increasing the cash dividend is how we can convey our thanks to the shareholders for their support and share our continued success with them."
"I am proud of our team's outstanding performance during the past year," continued Zalman. "Our bankers are competing well in all of our markets and we continue to believe our strong asset quality and strong earnings capacity will lead to future opportunities. While Texas is certainly not immune to the economic ills affecting other parts of the country, we are encouraged by the resilience of the Texas economy."
"We believe the decision we made last fall not to participate in the U.S. Treasury Department's TARP program was the right decision for our shareholders and expect that the strength of our bank will lead to future opportunities," concluded Zalman.
Quicksilver Gas Services (NYSE:KGS) October 19, 2009 declared its quarterly distribution of 39 cents per share, an increase of about 5% over its prior distribution in July of 37 cents. Based on Friday's closing price, investors can expect a forward yield of about eight and a half percent.
Investors cheered the distribution increase, sending shares higher by more than seven percent.
RockTenn (NYSE: RKT) October 30, 2009 declared a dividend of $0.15 per share on its Class A Common Stock to shareholders of record at the close of business on November 10, 2009. The dividend, which will be paid on November 23, 2009, represents an annual dividend rate of $0.60 per share. RockTenn Chairman and Chief Executive Officer James A. Rubright stated, "The RockTenn Board of Directors authorized this dividend increase in light of the increased size and profitability of our business since our last dividend increase in January, 2007." RockTenn is one of North America’s leading manufacturers of paperboard, ontainerboard and consumer and corrugated packaging with annual net sales of approximately $2.8 billion. The Company operates locations in the United States, Canada, Mexico, Chilé and Argentina.
Shenandoah Telecommunications Company (Shentel) (Nasdaq: SHEN) October 20, 2009 declared a cash dividend of $0.32 per share. The dividend is an increase of $0.02 per share or 7% over the 2008 dividend. The dividend will be payable December 1, 2009, to shareholders of record on November 10, 2009. The total payout to shareholders will be approximately $7.6 million.
About Shenandoah Telecommunications Shenandoah Telecommunications Company is a holding company that provides a broad range of telecommunications services through its operating subsidiaries. The Company's operating subsidiaries provide local and long distance telephone, Internet and data services, cable television, wireless voice and data services, alarm monitoring, and telecommunications equipment, along with many other associated solutions in the Mid-Atlantic and Southeastern United States.
SouthWest Water Co. (NASDAQ: SWWC) October 23, 2009 doubled its regular quarterly dividend to 5 cents from 2.5 cents. The company will pay the dividend on Nov. 20 to shareholders of record Nov. 4. SouthWest Water’s stock fell 12 cents, or 2.2 percent, to $5.34 in afternoon trading. Over the past year, the shares have traded in a range of $2.67 to $8.98.
Stepan Company (NYSE: SCL) October 20, 2009 today reported record third quarter and year-to-date results for the period ended September 30, 2009. Net income rose 15 percent to $19.5 million for the quarter and increased 53 percent to $54.3 million for the nine month period. Net income, excluding deferred compensation plan expense and gains on assets sold in the prior year, rose 200 percent for the quarter and 99 percent for the nine month period (see Table IV).
The dividend was increased by 9.1 percent to an annual rate of $0.96 per common share. This marks the forty-second consecutive annual dividend increase. Strong free cash flow from operations reduced debt, net of cash, from $126.3 million at December 31, 2008, to $37.4 million at September 30, 2009.
Strayer Education (NASDAQ: STRA) October 29, 2009 the company boosted its annual dividend 67% to $3.00. The yield based on the new payout is 1.43%. Strayer Education offers academic programs via traditional classroom and online courses.
Torchmark Corp (NYSE: TMK) October 26, ,2009 raised the company’s common share quarterly dividend from $.14 to $.15. The dividend will be paid on February 1, 2010 to shareholders of record as of January 6, 2010. McKinney, Texas-based Torchmark is a holding company specializing in life and supplemental health insurance for middle income Americans marketed through multiple distribution channels including direct response, and exclusive and independent agencies.
Travelers Cos. (NYSE: TRV) October 22, 2009 announced a dividend increase to 33 cents a share. Chairman and Chief Executive Jay Fishman cited "underwriting profitability in each of our business segments and increased net investment income" as key factors behind the latest quarter's results for the St. Paul, Minn.-based insurance giant. Net profit more than quadrupled to $935 million, or $1.65 a share, from $214 million, or 36 cents a share, in the year-earlier quarter, while operating earnings climbed to $1.61 a share from 55 cents.
For its next dividend, Travelers will pay out 33 cents a share on Dec. 31 to holders of record Dec. 10. The dividend previously had been 30 cents a quarter.
Universal Forest Products, Inc. (NASDAQ: UFPI) October 19, 2009 announced that it approved an increase in its Dec. 15, 2009, dividend, to $0.20 per share, at their Oct. 15, 2009, meeting. It marks the 27th consecutive year the Company has paid a dividend and represents the largest increase in its history. The dividend is payable to shareholders of record on Dec. 1, 2009.
"As long as the Company maintains its strong balance sheet, we expect to continue semiannual dividends at this increased level," Currie added. "Of course, any future decisions will be affected by our capital needs for growth,
including acquisitions."
UMB Financial Corporation (NASDAQ: UMBF) October 27, 2009 announced a quarterly cash dividend of $0.185 per share, or $0.74 annualized.
The dividend is payable on January 4, 2010 to shareholders of record at the close of business on December 11, 2009. The ex-dividend date is December 11, 2009.
Yield on the dividend is 1.8%.
This represents a 5.7 percent increase, and the ninth dividend increase since July 2003 with a total quarterly dividend increase of 85 percent.
Vectren Corporation (NYSE: VVC) October 29, 2009 announced the Board of Directors has declared a quarterly common stock dividend of 34 cents per share, a 1/2 cent increase over the previous quarter. The dividend will be payable December 1, 2009 to shareholders of record at the close of business on November 13, 2009.
"This marks the 50th consecutive year that the annual dividends paid by Vectren and its predecessor companies have increased," said Niel C. Ellerbrook, Chairman and CEO of Vectren Corporation. "We are proud to continue being a part of a select group of companies that have achieved this level of long-term commitment to our shareholders. "
Vectren Corporation (NYSE: VVC) is an energy holding company headquartered in Evansville, Indiana. Vectren's energy delivery subsidiaries provide gas and/or electricity to more than one million customers in adjoining service territories that cover nearly two-thirds of Indiana and west central Ohio. Vectren's nonutility subsidiaries and affiliates currently offer energy-related products and services to customers throughout the Midwest and Southeast. These include gas marketing and related services; coal production and sales; and energy infrastructure services.
Visa Inc. (NYSE: V) October 21, 2009 today announced that its Board of Directors had declared a quarterly dividend in the aggregate amount of $0.125 per share of class A common stock (determined in the case of class B and class C common stock on an as-converted basis) payable on December 1, 2009, to all holders of record of the Company's class A, class B and class C common stock as of November 16, 2009.
"Our Board of Director's decision to increase our dividend rate is further validation of Visa's focus on returning excess cash flow to our shareholders," said Joe Saunders, chairman and chief executive officer of Visa. "We are
especially pleased that in spite of the difficult global economic backdrop, Visa has been able to generate both solid returns and excess capital for our
shareholders."
Visa operates the world's largest retail electronic payments network providing processing services and payment product platforms. This includes consumer credit, debit, prepaid and commercial payments, which are offered under the Visa, Visa Electron, Interlink and PLUS brands. Visa enjoys unsurpassed acceptance around the world and Visa/PLUS is one of the world's largest global ATM networks, offering cash access in local currency in more than 170 countries.
