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  • Stock Market News and Dividend Report for Wednesday April 13, 2011 - CDTV.net 0 comments
    Apr 13, 2011 3:22 PM | about stocks: SBSI, MPR, SCNB, IP, ADTN, WERN, CASC-OLD, SLGN, JPM
    The Board of Directors of Southside Bancshares, Inc., (NASDAQ: SBSI) declared a 5% common stock dividend payable to common stock shareholders of record April 20, 2011.  The stock dividend is scheduled for payment on May 11, 2011.
     
    Southside Bancshares, Inc. is a bank holding company with approximately $3.0 billion in assets that owns 100% of Southside Bank.  Southside Bank currently has 48 banking centers in Texas and operates a network of 50 ATMs.
    ***
    Met-Pro Corporation (NYSE: MPR) Board of Directors, declared a quarterly dividend of $0.066 per share payable on June 15, 2011 to shareholders of record at the close of business on June 1, 2011.
     
    This is the thirty-sixth consecutive year that Met-Pro Corporation has paid either a cash or stock dividend.
     
    Met-Pro Corporation is a leading niche-oriented global provider of product recovery, pollution control and fluid handling solutions. 
    ***
    Suffolk Bancorp (NASDAQ: SUBK) released the results of its operations during the first quarter of 2011. The loss-per-share was $1.33, in comparison to earnings of $0.16 during the comparable period of 2010. The net loss was $12,899,000, compared to net income of $1,532,000 during the first quarter of last year. 
     
    Suffolk Bancorp is a one-bank holding company engaged in the commercial banking business through SCNB, a full-service commercial bank headquartered in Riverhead, New York.
    ***
    International Paper (NYSE: IP) Board of Directors has approved an increase in its quarterly common stock dividend from eighteen and three-quarter cents ($0.1875) per share to twenty six and one quarter cents ($0.2625) per share, effective for the dividend payable on June 15, 2011 to shareholders of record on May 17, 2011.
     
    This is the third dividend increase over the last twelve months. 
     
    International Paper (NYSE: IP) is a global paper and packaging company 
    *** 
    ADTRAN, Inc. (NASDAQ: ADTN) reported results for the first quarter of 2011. Sales increased 30% to an all time record level of $165,522,000 for the quarter, compared to $127,027,000 for the first quarter of 2010. Operating income increased 80% to $45,606,000 for the quarter compared to $25,345,000 for the first quarter of 2010. Net income increased 88% to $34,258,000 for the quarter, compared to $18,194,000 for the first quarter of 2010. Earnings per share, assuming dilution, increased 79% to $0.52 for the quarter, compared to $0.29 for the first quarter of 2010.
     
    The Company also announced that its Board of Directors declared a cash dividend for the first quarter of 2011. The quarterly cash dividend is $0.09 per common share to be paid to holders of record at the close of business on April 28, 2011. The payment date is May 12, 2011.
     
    ADTRAN, Inc. is a leading global provider of networking and communications equipment, with a portfolio of more than 1,700 solutions for use in the last mile of today's telecommunications networks. 
    ***
    Werner Enterprises, Inc. (NASDAQ: WERN) Board of Directors declared a regular quarterly cash dividend of $.050 (5.0 cents) per common share payable to stockholders of record at the close of business on April 18, 2011. This dividend will be paid on May 3, 2011.
     
    Werner Enterprises is currently in its twenty-fifth year of paying quarterly cash dividends on its common stock to its stockholders. The first quarterly cash dividend was paid by Werner Enterprises in July 1987.
     
    Werner Enterprises, Inc. is a premier transportation and logistics company
    ***
    Cascade Corporation (NYSE: CASC) Board of Directors declared a quarterly dividend of $0.20 per share, payable on May 12, 2011 to shareholders of record as of April 27, 2011.
     
    Cascade Corporation, is a leading international manufacturer of materials handling products used primarily on lift trucks.
    ***
    Silgan Holdings Inc. (Nasdaq: SLGN), a leading supplier of rigid consumer goods packaging products, announced it has entered into a definitive merger agreement to acquire Graham Packaging Company Inc. (NYSE: GRM), a leading global supplier of value-added rigid plastic containers for the food, specialty beverage and consumer products markets.
     
    Pursuant to the merger agreement, Graham shareholders will receive 0.402 shares of Silgan common stock and $4.75 in cash for each share of Graham common stock, representing a total enterprise value, including net debt, of approximately $4.1 billion. Based on Silgan’s closing stock price on April 12, 2011, the transaction implies a value of $19.56 per Graham share, representing a premium over the closing price of Graham’s stock on April 12, 2011 of approximately 17 percent.
    ***
    JPMorgan Chase & Co. (NYSE: JPM) reported first-quarter 2011 net income of $5.6 billion, compared with net income of $3.3 billion in the first quarter of 2010. Earnings per share were $1.28, compared with $0.74 in the first quarter of 2010.
     
    The Firm’s results reflected a strong quarter across the Investment Bank and solid performance according to Jamie Dimon, Chairman and Chief Executive Officer. 
     
    JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.2 trillion and operations in more than 60 countries. 
    ********** 
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    Disclosure: No positions
    *** 
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    Stocks: SBSI, MPR, SCNB, IP, ADTN, WERN, CASC-OLD, SLGN, JPM
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