Teekay Shipping Corporation announced that its Board of Directors has authorized a $180 million increase to the existing share repurchase program. Since the end of November 2004, when Teekay announced the authorization of its first share repurchase program, the company has repurchased approximately $555 million, or 15.5% of its outstanding shares. With $49 million remaining under the existing share repurchase program, the $180 million increase announced today results in a total remaining share repurchase authorization of approximately $229 million. If the remaining $229 million repurchase program is completed at an average price of $42.91 per share (Teekay’s closing share price on December 5, 2005), the Company will have repurchased a total of approximately $784 million, or approximately 22%, of its outstanding shares since November 2004.
ConocoPhillips announced a stock repurchase program to repurchase up to $1 billion of the company's common stock over a period of up to two years. This plan is in addition to the existing $1 billion program announced on February 4, 2005, under which the company has repurchased approximately $950 million of its common stock. Consistent with previous guidance, the company will use the new program as a means of offsetting dilution to existing shareholders from the company's stock-based
Newport News Shipbuilding Inc. has approved a $100 million share repurchase program, adding to a $100 million buyback plan authorized last June. The new plan will be implemented over 2000 and 2001. The company has bought back almost 3 million shares under the previous program. The company currently has nearly 33 million shares outstanding, according to Standard & Poor's MarketScope.
Northrop Grumman Corporation announced that its board of directors has elected Mark Rabinowitz corporate vice president and treasurer, succeeding James L. Sanford, who will retire at the end of the year. Rabinowitz will assume his new position on Aug. 1, 2007. He will report to James F. Palmer, Northrop Grumman corporate vice president and chief financial officer. As treasurer, Rabinowitz will be responsible for all duties of the corporate treasury, including cash management
Oil tanker operator Teekay Corp. said Tuesday it will increase its quarterly dividend by 15 percent to 31.625 cents per share, from 27.5 cents previously. The dividend will be paid on Oct. 31 to shareholders of record on Oct. 17. The Bermuda-based company also said it will repurchase $200 million of its shares, or about 14 percent of shares outstanding based on Monday's prices. Share repurchases take a company's shares out of circulation
Highlights include: Q4 EPS from Continuing Operations Increase to $2.09; 2011 EPS from Continuing Operations Increase to $7.41; Free Cash Flow before Discretionary Pension Contributions Totals $1.4 Billion for Q4 and $2.5 Billion for 2011; 11.8 Million Shares Repurchased in Q4 for $649 Million; 40.2 Million Shares Repurchased in 2011 for $2.3 Billion; 2012 Guidance for EPS from Continuing Operations $6.40 to $6.70
General Maritime Corporation announced that it has agreed to sell nine OBO Aframax tankers en bloc to Tanker Pacific for $247.5 million. The company expects to realize a net gain of $16.6 million from the sale. The company intends to utilize the proceeds to pay down debt, for corporate purposes which may include share repurchases, and for any future acquisitions that the Company may consider. Deliveries of the nine vessels are expected to be concluded by June 2006.
Noble Corporation reported 4Q 2007 earnings of $347.4 million, or $1.29 per diluted share, versus $199.7 million, or $0.74 per diluted share, for the fourth quarter of 2006. Per-share earnings were up 74 percent from the fourth quarter of 2006 and up nine percent from the $1.18 per share reported for the third quarter of 2007. Earnings for the full year 2007 totaled $4.48 per diluted share compared with $2.66 per diluted share in 2006 (split adjusted).
Scorpio Tankers inform of a new $150 million stock buyback program; initial purchasers' exercise of their option to purchase additional $60 million in convertible senior notes due 2019, and newbuilding vessel deliveries. Main points follow: New $150 Million Stock Buyback Program On June 27, 2014, the Board of Directors approved a new stock buyback program with authorization to purchase up to $150 million of shares of the Company's common stock
PPG Industries, a world leader in protective and marine coatings, announced that it has reached a definitive agreement to acquire Consorcio Comex, S.A. de C.V. (Comex), an architectural and industrial coatings company with headquarters in Mexico City, Mexico. The transaction is valued at $2.3 billion and is subject to regulatory approvals and customary closing conditions. Comex manufactures coatings and related products in Mexico and sells them in Mexico and Central America through
Scorpio Tankers says it has taken delivery of a new MR tankship, has authorized stock buyback, and declares a quarterly dividend. Details as follows: After delivery, the new tankship vessel began a one year time charter at a rate level consistent with current one year time charter contracts
Scorpio Tankers Inc. gives details of its agreement to acquire some of its own common shares; to buy back stock; and also sets out a fleet update. Scorpio Tankers Inc. says it has entered into an agreement to purchase from an existing shareholder 7,500
The Board of Directors of Aker Philadelphia Shipyard ASA has resolved to initiate a buyback program for up to 10% of the Company's share capital. The decision reflects the Company's focus on maximizing shareholder returns over time, its strong financial position
General Dynamics today reported 2014 second-quarter earnings from continuing operations of $646 million, or $1.88 per share on a diluted basis, compared to second-quarter earnings from continuing operations in 2013 of $640 million, or $1.81 per diluted share
Star Bulk Carriers Corp. (Nasdaq: SBLK), said that its Board of Directors approved the extension of the Company’s Share Repurchase Plan, which has been in place since 2010, to December 31, 2012. The plan calls for the repurchases of Common Stock for up to $30 million to be made in
Paragon Shipping Inc. raises US$ 10-million working capital in sale of newly-issued shares to an entity affiliated to its own chairman. The Paragon Board agreed to sell 4,901,961 newly-issued shares of the Company's common stock to an entity affiliated with Mr
Carnival Corporation to sell existing shares over time in the London stock market. Carnival Corporation and Carnival Investments Limited, a wholly owned subsidiary of Carnival Corporation, intend to sell existing Carnival plc ordinary shares that they hold in the UK market.
Intelsat S.A. (formerly known as Intelsat Global Holdings S.A.) announced the pricing of its initial public offering of 19,323,672 common shares at a price of $18.00 per share and concurrent public offering of 3,000,000 Series A mandatory convertible junior non-voting preferred shares (the
General Dynamics (GD) today reported second-quarter 2013 net earnings of $640 million, or $1.81 per share on a diluted basis, compared to 2012 second-quarter net earnings of $634 million, or $1.77 per diluted share. Second-quarter 2013 revenues were $7.9 billion.
Cummins Inc. today reported results for the second quarter of 2013. The company said they expect full year revenues to be in line with 2012. Second quarter revenues of $4.5 billion increased 2% from the second quarter of 2012. Revenues in North America increased by 7% and international revenues
General Dynamics reported third-quarter 2013 net earnings of $651 million, or $1.84 per share on a diluted basis, on revenues of $7.8 billion. This compares to 2012 third-quarter net earnings of $600 million, or $1.70 per diluted share, on revenues of $7.9 billion
The board of directors of General Dynamics (NYSE: GD) yesterday authorized management to repurchase up to 20 million shares of the company’s issued and outstanding common stock on the open market. General Dynamics, headquartered in Falls Church, Virginia, employs approximately 96
Greece's DryShips Inc. through its majority owned subsidiary, Ocean Rig UDW Inc., informs that it intends to offer $500 million in aggregate principal amount of senior notes due 2019 in a private offering within the United States to qualified institutional buyers pursuant to Rule 144A under the
PPG Industries (NYSE:PPG) reported record first quarter 2014 net sales from continuing operations of $3.6 billion, up $528 million, or 17 percent, versus the prior year. First quarter 2014 reported net income from continuing operations was $277 million, or $1.97 per diluted share
BP today announced its financial results for the first quarter of 2014. Underlying replacement cost profit1 for the quarter was $3.2 billion, compared with $2.8 billion for the previous quarter and $4.2 billion for the first quarter of 2013. Operating cash flow in the quarter was $8