December 12, 2015 |
Comcast Corp. shareholders on Thursday approved a plan to convert nonvoting K shares into regular common stock. All nonvoting K shares will be reclassified on a one-to-one basis as class A common stock after Wall Street trading closes on Friday. Class A shares have one share/one vote rights in Comcast corporate-governance issues. Comcast has said there was no need for the two stock classes. The Roberts family preserved its 33 percent control of the cable and media conglomerate through super-voting class B shares.
February 25, 1994 |
Unisys Corp. said yesterday that it was about to clear a crucial hurdle before resuming dividends on its common stock. Unisys said it was about to pay off the arrearage on its preferred-stock dividends, which have been behind for three years. Previously, it said common stock dividends would not be paid until the preferred-stock payments were made current. However, a spokesman for the Blue Bell computer maker and information services firm said that no decision had been made to restore the common-stock dividend and that its top priority remained cutting debt.
October 7, 2012 |
Sunoco Inc. is now a subsidiary of Energy Transfer Partners L.P. ETP, a pipeline company based in Dallas, completed its acquisition Friday of the Philadelphia fuel retailer, creating a diversified energy partnership. For customers of Sunoco and its pipeline subsidiary, Sunoco Logistics Partners L.P., the acquisition should be seamless. Those operations are still based in Philadelphia. Sunoco stations still bear the iconic diamond-and-arrow logo. But for owners of 104.7 million shares of Sunoco common stock, who approved the merger on Thursday, the transaction is a little more complicated.
April 25, 1987 |
The Glenmede Trust Co. yesterday said that it planned to sell 2.7 million shares of Sun Co. common stock. The sale, worth about $166 million at yesterday's prices, represents 2.5 percent of Sun's 108 million outstanding shares of common stock. John W. Church Jr., senior vice president of Glenmede, said that the trust was selling the stock because it had a bigger percentage of Sun's stock than it wanted. Glenmede now manages funds that own 28 percent of Sun's common stock. About 26 percent of Sun's common stock is in charitable trusts controlled by Glenmede.
June 18, 1989 |
The value of Aydin Corp.'s contract to develop electronic-warfare systems for the Air Force has been increased by $22.9 million to $100.9 million. The original value of the Horsham-based company's contract to manufacture Multiple Threat Emitter Systems (MUTES) was $78 million. When the system is complete, it will provide for "pilot training and electronic-warfare-type training for the Air Force," says Geraldine Hakimoglu, a company spokeswoman. "And it's got radar simulation in it, too. " Aydin was chosen by the Air Force in 1987 to develop and manufacture the MUTES technology.
September 27, 2011
The Bancorp Inc., Wilmington, said its board of directors authorized the repurchase of up to 750,000 shares of the company's common stock, or about 2.5 percent of the total outstanding. The shares are trading at about $7.05, making the repurchase currently worth about $5.3 million. The company operates The Bancorp Bank, which has assets of $2.5 billion and offices in Philadelphia, Exton, Warminster and several southern and midwestern cities, in addition to Wilmington. -Paul Schweizer
January 18, 2012
Sunoco Inc., distributed 56.7 million shares of SunCoke Energy Inc. to its shareholders, completing the spin-off of its metallurgical coke subsidiary. Sunoco no longer owns any shares of SunCoke. Sunoco shareholders received 0.53046456 share of SunCoke common stock; each fractional share was worth $6.82 at the market close on Wednesday. Sunoco shares closed Wednesday at $37.07. That means the value of a Sunoco shareholder's investment in the two companies increased about 3.7 percent in trading Wednesday on the New York Stock Exchange.
August 26, 2011
Urban Outfitters Inc. said its board approved the repurchase of an additional 10 million shares of the Philadelphia company's common stock. The company said it had completed the buyback of a separate 10 million shares that was authorized last November. As of early June, the retailer had 160 million shares outstanding. The stock closed Friday at $24.77, up 56 cents but down from a high this year of $38.50 in early March. Urban operates stores that sell apparel, accessories and housewares.
March 7, 2013 |
PolyMedix Inc., a struggling Radnor biotech firm that has been considering strategic alternatives that may include a sale of the company, announced a plan for a reverse stock split to increase the per-share price of its common stock. Share are currently traded over the counter, and the company said it's goal would be to list on the Nasdaq. The company called a shareholder meeting for March 15 to vote on the proposal. PolyMedix, which is developing a treatment for skin infections, in January replaced then-CEO Nicholas Landekic with CFO Edward F. Smith as interim chief executive.