TE Connectivity Ltd.NYSE
Thu, Dec. 8, 5:58 PM
- TE Connectivity (NYSE:TEL) board approved to increase the company's quarterly dividend from $0.37 to $0.40 per share, for the four fiscal quarters starting in April 2017, the beginning of the Q3.
- The recommendation would raise the company's dividend from the annual rate of $1.48 per share to $1.60 per share, and will be presented for shareholder approval at the company's AGM on March 8, 2017.
Wed, Nov. 16, 9:57 AM
Wed, Nov. 2, 5:08 AM
Tue, Nov. 1, 5:30 PM
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Wed, Oct. 12, 12:34 PM
- Alongside TE SubCom (TEL -0.4%) and Pacific Light Data Communication Co.
- Set to launch in the summer of 2018, the Pacific Light Cable Network will measure nearly 8K miles and once constructed, will register the highest-capacity transpacific route to date.
- With Facebook (FB +0.2%) and Google (GOOG, GOOGL) driving ever-increasing quantities of global internet traffic, a greater stake in the infrastrucutre faciliatting its delivery could yield distinct advantages going forward.
- Earlier: Nokia demonstrates new record undersea cable capacity
Mon, Oct. 3, 8:55 AM
- TE Connectivity (NYSE:TEL) names board member and President Terrence Curtin as its next CEO, succeeding Tom Lynch, who will become executive chairman.
- Lynch has been CEO since 2006, including through its spinoff from Tyco, and will continue as CEO until March 2017; he was elected Chairman in 2013.
- Curtin became TEL's President in 2015 after previously leading the company’s industrial segment and serving as CFO during 2006-12.
Thu, Aug. 11, 10:05 AM
Wed, Jul. 20, 6:01 AM
Tue, Jul. 19, 5:30 PM
Thu, May 12, 6:06 PM
- TE Connectivity (NYSE:TEL) declares $0.37/share quarterly dividend, 12.1% increase from prior dividend of $0.33.
- Forward yield 2.52%
- Payable June 10; for shareholders of record May 27; ex-div May 25.
Wed, Apr. 20, 6:02 AM
- TE Connectivity (NYSE:TEL): FQ2 EPS of $0.90 beats by $0.01.
- Revenue of $2.95B (-4.2% Y/Y) misses by $30M.
Tue, Apr. 19, 5:30 PM
Wed, Mar. 2, 5:46 PM
- TE Connectivity (NYSE:TEL) has added $1B to its buyback program. The new funds are good for repurchasing over 4% of shares at current levels.
- The sensor/connector maker also states Terrence Curtin (TE's President), John Davidson, and Mark Trudeau have been elected to the board at the company's annual meeting - they were nominated in December.
- TEL +0.4% after hours to $59.49. The company spent $1.25B on common stock repurchases in FQ1 (calendar Q4).
Thu, Feb. 11, 8:37 AM
- TE Connectivity (NYSE:TEL) declares $0.33/share quarterly dividend, in line with previous.
- Forward yield 2.48%
- Payable March 11; for shareholders of record Feb. 26; ex-div Feb. 24.
Tue, Feb. 2, 10:57 AM
- Continuing its M&A spree, TE Connectivity (TEL -3.1%) is buying Creganna Medical Group, an Ireland-based provider of delivery/access devices for medical device OEMs, from P-E firm Permira for $895M in cash.
- The deal is expected to close in FQ3 (calendar Q2), and will be financed via both existing cash and debt - TE is just a week removed from announcing a $350M debt offering. TE forecasts $0.03 of EPS accretion in the first full fiscal year after the deal's closing. With Creganna posting 2015 revenue of $250M, TE is paying 3.6x trailing sales.
- CEO Tom Lynch: "The acquisition of Creganna Medical is part of our well-established strategy to expand our leadership position in harsh environment applications. This transaction builds on our AdvancedCath acquisition and establishes TE as a leading supplier to the high-growth minimally invasive interventional segment." Creganna's results will be reported in TE's Industrial Solutions segment.
- In addition to AdvancedCath (acquired for $190M), TE has bought industrial sensor maker Measurement Specialties ($1.7B) and underwater connecter maker Seacon Group ($490M) in recent years. Meanwhile, the company has sold its telecom/networking equipment unit to CommScope for $3B, and its circuit protection devices unit to Littelfuse for $350M.
- TE is lower on a day the S&P is down 1.4%.
Tue, Jan. 26, 3:00 PM
- Via its Tyco Electronics unit, TE connectivity (TEL +1%) is selling $350M worth of 3.7% senior notes due 2026. The company only says proceeds will be used for "general corporate purposes" - it has made several big acquisitions in recent years.
- Last February, TE sold $621M worth of euro-denominated debt via Tyco. $2.22B in cash and $3.37B in long-term debt was on the balance sheet at the end of FQ1 (calendar Q4).
- Last week: TE Connectivity stays green after FQ1 beat, healthy FY16 guidance