Level 3 (LVLT +0.7%) approves the spin-off of its Engility unit - which will lead to lower FY...


Level 3 (LVLT +0.7%) approves the spin-off of its Engility unit - which will lead to lower FY earnings for the defense contractor - and a $0.50 dividend. Level 3 is grabbing a $335M dividend from the Engility, thereby loading the latter with $345M in debt. Engility will start trading on the NYSE on July 18 under the ticker symbol "EGL."

Comments (1)
  • SoonerTed
    , contributor
    Comments (39) | Send Message
     
    Level 3 with LVLT stock symbol is NOT a defense contractor. LVLT is a telecom/backbone company that also provides CDN services for companies like Netflix. This story (if you follow the link) is for L-3, which is stock symbol LLL. Please correct the summary.
    26 Jun 2012, 09:45 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs