Tag Archives: Earnings

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BB&T Corporation declares 16-cent third-quarter dividend

WINSTON-SALEM, N.C. — The board of directors of BB&T Corporation (NYSE: BBT) declared the 2011 third-quarter dividend of $0.16 per common share on Tuesday. At this quarterly rate, the annual dividend is equivalent to $0.64 per common share.

The dividend will be paid Aug. 1, 2011, to shareholders of record as of July 8, 2011. BB&T has paid a dividend superior to most of its peers over the past year. It has paid a cash dividend to shareholders every year since 1903. The company has approximately 696 million shares outstanding.

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Progress Energy Announces 2011 First-Quarter Results

RALEIGH, N.C. — Progress Energy (NYSE: PGN) announced first-quarter GAAP earnings of $184 million, or $0.62 per share, compared with GAAP earnings of $190 million, or $0.67 per share, for the same period last year. First-quarter ongoing earnings were $202 million, or $0.69 per share, compared to $213 million, or $0.75 per share, for the same period last year. The significant drivers in ongoing earnings per share were extreme weather in the prior year throughout the company’s service territories and decreased wholesale revenues in Florida, partially offset by lower depreciation and amortization expense in Florida. (See the discussion later in this release for a reconciliation of ongoing earnings per share to GAAP earnings per share.)

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International Paper Reports Solid First Quarter Earnings

MEMPHIS, TN – International Paper (NYSE: IP) today reported first-quarter 2011 net earnings attributable to common shareholders totaling $342 million ($0.78 per share) compared with net earnings of $316 million ($0.73 per share) in the fourth quarter of 2010 and a loss of $162 million ($0.38 per share) in the first quarter of 2010. Amounts in all periods include the impact of special items.


Diluted Earnings Per Share Attributable to International Paper Shareholders

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International Paper Announces Increase in Quarterly Dividend

MEMPHIS, TN — International Paper (NYSE: IP) announced today that its Board of Directors has approved an increase in its quarterly common stock dividend from twelve and one-half cents ($0.125) per share to eighteen and three-quarter cents ($0.1875) per share, effective for the dividend payable March 15, 2011 to shareholders of record on February 15, 2011.

“This second dividend increase reflects our intent to restore our dividend to pre-recession levels,” said John Faraci, Chairman and chief executive officer. “Today, International Paper is a much stronger company and we remain committed to creating sustainable returns for our shareholders.”

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Progress Energy Board Declares Quarterly Dividend

RALEIGH, N.C. — Progress Energy’s board of directors today declared a dividend on the company’s common stock. The quarterly dividend was declared at 62 cents per share, payable Feb. 1, 2011, to shareholders of record as of Jan. 10, 2011. This represents an expected total annual dividend for 2011 of $2.48 per share.

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Progress Energy Announces 2010 Third-Quarter Results

RALEIGH, N.C. — Progress Energy (NYSE: PGN) announced third-quarter GAAP earnings of $361 million, or $1.23 per share, compared with GAAP earnings of $247 million, or $0.88 per share, for the same period last year. Prior-year results include a charge of $101 million, net of tax, or $0.36 per share, to discontinued operations related to a litigation verdict. Third-quarter ongoing earnings were $361 million, or $1.23 per share, compared to $342 million, or $1.22 per share, for the same period last year. The significant drivers in ongoing earnings per share were favorable weather in the Southeast and lower depreciation and amortization in Florida, primarily offset by increased O&M, share dilution and interest expense. (See the discussion later in this release for a reconciliation of ongoing earnings per share to GAAP earnings per share.)

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International Paper To Release Third Quarter 2010 Earnings on Wednesday, October 27

MEMPHIS, TN — International Paper (NYSE: IP) will release third quarter 2010 earnings on Wednesday, October 27, before the opening of the New York Stock Exchange. The company will host a webcast to discuss earnings and current market conditions at 9 a.m. EDT (8 a.m. CDT) that day.

All interested parties are invited to listen to the webcast via the company’s Internet site at http://www.internationalpaper.com by clicking on the Investors tab and going to the Webcasts and Presentations page. A replay of the webcast will also be on the Web site beginning approximately two hours after the call.

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Progress Energy Third-Quarter Earnings Release Webcast Set for Oct. 29

RALEIGH, N.C. — Progress Energy (NYSE: PGN) will hold a conference call to discuss 2010 third-quarter earnings results on Friday, Oct. 29. The conference call will begin at 10 a.m. ET (7 a.m. PT) and will be webcast to the public. The call will be hosted by Chairman, President and Chief Executive Officer Bill Johnson and Chief Financial Officer Mark Mulhern.

Investors, media and the public may listen to the conference call by dialing 913-312-0396, confirmation code 5698470. If you encounter problems connecting to the conference call, please contact Investor Relations at 919-546-6057.

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Progress Energy Announces 2010 Second-Quarter Results; Updates Full-Year 2010 Earnings Guidance

RALEIGH, N.C. — Progress Energy (NYSE: PGN) announced second-quarter GAAP earnings of $180 million, or $0.62 per share, compared with GAAP earnings of $174 million, or $0.62 per share, for the same period last year. Second-quarter ongoing earnings were $181 million, or $0.63 per share, compared to $181 million, or $0.64 per share, for the same period last year. The significant drivers in ongoing earnings per share were favorable weather, the impact of the repowered Bartow Plant and higher clause recovery, offset by increased interest expense and O&M and unfavorable AFUDC equity. (See the discussion later in this release for a

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Lowe’s Reports Fourth Quarter Sales and Earnings Results – Board of Directors Authorizes Repurchase of up to $5 Billion of the Company’s Common Stock

Lowe's_Logo_thumbnailMOORESVILLE, NC – Lowe’s Companies, Inc. (NYSE: LOW), the world’s second largest home improvement retailer, today reported net earnings of $205 million for the quarter ended January 29, 2010, a 26.5 percent increase from the same period a year ago. Diluted earnings per share increased 27.3 percent to $0.14 from $0.11 in the fourth quarter of 2008. For the fiscal year ended January 29, 2010, net earnings declined 18.8 percent to $1.78 billion and diluted earnings per share also declined 18.8 percent to $1.21.

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ADM Increases Cash Dividend

Southport, NC – The Board of Directors of Archer Daniels Midland Company (NYSE: ADM) today declared a cash dividend of 15 cents per share on the Company’s stock payable March 11, 2010, to Stockholders of record February 18, 2010. This is an increase of one cent a share.

This is ADM’s 313th consecutive quarterly payment, a record of 78 years of uninterrupted dividends. As of December 31, 2009, there were 642,567,973 shares of ADM stock outstanding.

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Time Warner Inc. Provides 2010 Full-Year Business Outlook

NEW YORK – Time Warner Inc. (NYSE:TWX) today provided its 2010 full-year business outlook. The Company expects its 2010 full-year growth rate in Adjusted Diluted Income per Common Share from Continuing Operations (“Adjusted EPS”) to be in the mid-teens, off a 2009 Adjusted EPS base of $1.83.

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International Paper Reports Fourth-Quarter and 2009 Earnings

international-paperRieglewood, NC – International Paper (NYSE:IP) reported preliminary full-year 2009 net earnings attributable to common shareholders totaling $663 million ($1.55 per share) compared with a loss of $1.3 billion ($3.05 per share) in 2008. In the fourth quarter of 2009, the company reported a net loss of $101 million ($0.24 per share) compared with a net loss of $1.8 billion ($4.25 per share) in the fourth quarter of 2008. Amounts in all periods include special items. Full-year 2008 results of operations include the acquisition of Weyerhaeuser Company’s packaging business since August 2008.

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AmeriGas Partners Reports First Quarter Results

Wilmington, NC – AmeriGas Propane, Inc., general partner of AmeriGas Partners, L.P. (NYSE: APU), reported net income attributable to AmeriGas Partners, L.P. for the first fiscal quarter ended December 31, 2009 of $84.0 million compared to $124.0 million for the same period last year. The Partnership’s earnings before interest expense, income taxes, depreciation and amortization (EBITDA) was $123.0 million for the first quarter of 2009 compared to $164.1 million for the same period last year. Results for the prior-year period include the impact of a $39.9 million pre-tax gain on the sale of the Partnership’s California propane storage terminal.

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Hess Reports Estimated Results for the Fourth Quarter of 2009

Fourth Quarter Highlights:

•Net Income was $358 million compared with a loss of $74 million in the fourth quarter 2008
•Oil and gas production was 415,000 barrels per day, up from 379,000 in the fourth quarter 2008
•Capital and exploratory expenditures were $992 million, down from $1,250 million in the fourth quarter 2008
•Year end total proved reserves were 1,437 million barrels; reserve replacement for 2009 was 103 percent

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BB&T Issues 4th Quarter And Full Year ’09 Report – Earnings per common share total $.27 for the fourth quarter

WINSTON-SALEM, N.C. — BB&T Corporation (NYSE: BBT) today reported earnings for the fourth quarter and the full year 2009.  For the fourth quarter, net income totaled $194 million, or $.27 per diluted common share, compared with $307 million, or $.51 per diluted common share, earned during the fourth quarter of 2008. Results for the fourth quarter of 2009 produced annualized returns on average assets and average common shareholders’ equity of .47% and 4.52%, respectively.

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Progress Energy Provides 2010 Earnings Guidance, Updates 2009 Guidance

RALEIGH, N.C. – Progress Energy (NYSE: PGN) announced today that its 2010 ongoing earnings guidance is projected to be in the range of $2.85 to $3.05. The 2010 earnings guidance reflects adjusted retail revenue expectations due to the challenging economy in the company’s service territories and the results of the decision last week in the company’s Florida rate case.

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International Paper Declares Dividends

international-paperMEMPHIS, TN – International Paper (NYSE: IP) has declared a regular quarterly dividend of $0.025 per share for the period from Jan. 1, 2010, to March 31, 2010, inclusive, on its common stock, par value $1. This dividend is payable on March 15, 2010, to holders of record at the close of business on Feb. 16, 2010.
 
The company also declared a regular quarterly dividend of $1 per share for the period from Jan. 1, 2010, to March 31, 2010, inclusive, on the cumulative $4 preferred stock of the company. This dividend is also payable on March 15, 2010, to holders of record at the close of business on Feb. 16, 2010.

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U.S. Private Equity Fund-Raising Plummets 68% in 2009; Worst Year and First Sub-$100 Billion Year Since 2003

NEW YORK, NY – U.S. private equity fund-raising closed out its worst year for fundraising since 2003 with 331 funds raising $95.8 billion, down 68% from the $299.9 billion raised by 508 funds in 2008, according to figures from Dow Jones LP Source. With the lone exception of secondary funds, every sector experienced sharp slowdowns.

In the fourth quarter, firms raised $20.5 billion in 75 funds, down 80% from the $102.7 billion raised by 188 funds in 2008.

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First Financial Holdings, Inc. Announces Increase In Loan Loss Provision For First Quarter

Charleston, SC – First Financial Holdings, Inc.(NASDAQ GSM: FFCH), the holding company for First Federal Savings and Loan Association of Charleston, today announced that it expects to record a provision for loan losses between $25 million and $26 million for the first quarter of fiscal 2010, which will result in a loss for this quarter.  This higher provision brings their allowance for loan loss reserve to approximately $73 million.  First quarter 2010 net charge-offs are expected to be between $20 million and $21 million.

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Progress Energy Board Declares Quarterly Dividend

progress-energyRALEIGH, N.C. – Progress Energy’s (NYSE: PGN – News) board of directors today declared a dividend on the company’s common stock of 62 cents per share, payable Feb. 1, 2010, to shareholders of record as of Jan. 11, 2010.

“The company understands the importance that our shareholders place on the dividend,” said Bill Johnson, chairman, president and CEO of Progress Energy. “Our long-term goal is to achieve a dividend payout ratio of 70 to 75 percent of ongoing earnings. Given the continued near-term weakness in the national economy, maintaining our dividend at the current level will allow us to make progress toward achieving our long-term payout ratio goal while continuing to provide value for our shareholders.”

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Progress Energy Announces 2009 Third-Quarter Results

progress-energyRALEIGH, N.C. – Progress Energy (NYSE: PGN) announced third-quarter GAAP earnings of $247 million, or $0.88 per share, compared with GAAP earnings of $309 million, or $1.18 per share, for the same period last year. Current period results include a charge of $101 million, net of tax, or $0.36 per share, to discontinued operations related to a litigation verdict. Third-quarter ongoing earnings were $342 million, or $1.22 per share, compared to $306 million, or $1.17 per share, for the same period last year. The significant drivers in ongoing earnings per share were increased revenues for interim and limited base rate relief, favorable returns on nuclear and environmental investments and O&M cost management, partially offset by lower retail growth and usage and share dilution.
Third Quarter 2009

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First Financial Holdings, Inc. Announces Fourth Quarter Earnings Conference Call

First FederalCharleston, SC – First Financial Holdings, Inc. (NASDAQ GSM:  FFCH) announced today that the company will host a conference call for institutional investors and bank analysts on Tuesday, October 27, 2009 at 6:00 p.m. Eastern Daylight Saving Time to discuss its financial results.  The conference call will coincide with the news release announcing fiscal fourth quarter and year end earnings which will be distributed prior to the market open on Tuesday, October 27, 2009.

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BB&T Third Quarter Report

BB&TWINSTON-SALEM, N.C. — BB&T Corporation (NYSE: BBT) today reported $157 million in net income for the third quarter, or $.23 per diluted common share, compared with $362 million, or $.65 per diluted common share, earned during the third quarter of 2008. The third quarter results produced annualized returns on average assets and average common shareholders’ equity of .40% and 3.90%, respectively.

        

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International Paper Declares Dividends

international-paperMEMPHIS, Tenn. – International Paper (NYSE: IP) today declared a regular quarterly dividend of $0.025 per share for the period from Oct. 1, 2009, to Dec. 31, 2009, inclusive, on its common stock, par value $1. This dividend is payable on Dec. 15, 2009, to holders of record at the close of business on Nov. 16, 2009.

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First Financial Holdings Inc. Announces Fourth Quarter Earnings Conference Call

Charleston, SC – First Financial Holdings, Inc. (NASDAQ GSM:  FFCH) announced today that the company will host a conference call for institutional investors and bank analysts on Tuesday, October 27, 2009 at 6:00 p.m. Eastern Daylight Saving Time to discuss its financial results.  The conference call will coincide with the news release announcing fiscal fourth quarter and year end earnings which will be distributed prior to the market open on Tuesday, October 27, 2009.

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Progress Energy Board Declares Quarterly Dividend

progress-energyRALEIGH, N.C., Sept. 18 — Progress Energy’s board of directors today declared a dividend on the company’s common stock. The quarterly dividend was declared at 62 cents per share, payable on Nov. 2, 2009, to shareholders of record as of Oct. 12, 2009. This represents a total annual dividend of $2.48 per share.

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BB&T Corporation declares dividend

BB&TWINSTON-SALEM, N.C. – The board of directors of BB&T Corporation (NYSE: BBT) today declared the 2009 fourth quarter dividend of $0.15 per share.

The dividend will be paid Nov. 2 to shareholders of record as of Oct. 16. BB&T has paid a cash dividend to shareholders every year since 1903.

At June 30, BB&T Corporation had $152.4 billion in assets and was the nation’s 11th largest financial holding company. Founded in 1872, it operates more than 1,500 financial centers in 11 states and Washington, D.C. More information about the company is available at BBT.com.

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International Paper Declares Dividends

international-paperMEMPHIS, TN — International Paper (NYSE: IP) recently declared a regular quarterly dividend of $0.025 per share for the period from July 1, 2009 to Sept. 30, 2009, inclusive, on its common stock, par value $1. This dividend is payable on Sept. 15, 2009, to holders of record at the close of business on Aug. 17, 2009.

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Cooperative Bank reports 26% increase in first-quarter earnings

WILMINGTON, NC — Cooperative Bankshares, Inc. (NASDAQ: “COOP”), the parent company of Cooperative Bank, reported net income for the quarter ended March 31, 2009 of $949,000, or $0.14 per diluted share, an increase of 26.2% over the same quarter last year.  Net income for the quarter ended March 31, 2008 was $752,000, or $0.11 per diluted share.