Stock Market News and Dividend Report for Monday March 21, 2011 - CDTV.net

The Andersons, Inc. (NasdaqGS: ANDE) announced a second quarter 2011 cash dividend of 11 cents ($0.11) payable April 22, 2011, to shareholders of record on April 1, 2011.

 

This is The Andersons' 58th consecutive quarterly cash dividend since its listing on the Nasdaq on February 20, 1996. 

 

The Andersons, Inc. engages in the agriculture and transportation businesses in the United States.

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The board of directors of The Ryland Group, Inc. (NYSE: RYL), has declared a first-quarter dividend of $0.03 per share, payable on April 29, 2011, to common stockholders of record on April 15, 2011.

 

Ryland is one of the nation’s largest homebuilders and a leading mortgage-finance company. 

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The Board of Directors of Kraft Foods Inc.(NYSE: KFT) has declared a regular quarterly dividend of $0.29 per common share of Class A stock. This dividend is payable on April 14, 2011, to stockholders of record as of March 31, 2011.

 

Kraft Foods Inc., together with its subsidiaries, manufactures and markets snacks, confectionery, and quick meal products worldwide. 

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Quest Diagnostics Incorporated (NYSE: DGX), the world's leading provider of diagnostic testing, information and services, and Celera Corporation (Nasdaq: CRA), one of the world's pioneers in genetic diagnostics discovery and development, announced that they have entered into a definitive merger agreement under which Quest Diagnostics will acquire Celera for $8 per share, representing a transaction value of approximately $344 million, net of $327 million in acquired cash and short-term investments. The transaction value is expected to be further reduced through the realization of a significant portion of Celera's available tax credit and net operating loss carryforwards and capitalized R&D, which totaled $117 million at the end of 2010. The transaction was approved by the boards of directors of both companies. Celera generated revenues of $128 million in 2010.

 

Quest Diagnostics expects the acquisition to be dilutive to its GAAP earnings per share by an immaterial amount in 2011, before anticipated charges related to the transaction. The acquisition is not expected to have a material impact on Quest Diagnostics' 2012 EPS. Assuming a close of the transaction at the end of April, 2011, Quest Diagnostics expects Celera to add just over 1% to its 2011 revenue growth.

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AT&T Inc. (NYSE: T) and Deutsche Telekom AG (FWB: DTE) announced that they have entered into a definitive agreement under which AT&T will acquire T-Mobile USA from Deutsche Telekom in a cash-and-stock transaction currently valued at approximately $39 billion. The agreement has been approved by the Boards of Directors of both companies.

 

AT&T’s acquisition of T-Mobile USA provides an optimal combination of network assets to add capacity sooner than any alternative, and it provides an opportunity to improve network quality in the near term for both companies’ customers. 

 

As part of the transaction, Deutsche Telekom will receive an equity stake in AT&T that, based on the terms of the agreement, would give Deutsche Telekom an ownership interest in AT&T of approximately 8 percent. A Deutsche Telekom representative will join the AT&T Board of Directors.

 

The transaction is expected to close in approximately 12 months.

 

AT&T Inc. (NYSE:T) is a premier communications holding company. Deutsche Telekom is one of the world's leading integrated telecommunications companies

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The board of directors of Lincoln National Corporation (NYSE: LNC) declared a quarterly cash dividend of $0.05 per share on the corporation's common shares. The dividend on the common stock will be payable May 1, 2011, to shareholders of record at the close of business on April 11, 2011. 

 

Lincoln National Corporation, through its subsidiaries, engages in multiple insurance and retirement businesses in the United States.

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Gap Inc. (NYSE: GPS) Board of Directors decalred a quarterly dividend of $0.1125 per share was declared for payment on or after April 27, 2011 to shareholders of record at the close of business on April 6, 2011. 

 

During the fourth quarter of fiscal year 2010, the company repurchased about 28 million shares for $598 million.

 

The Gap, Inc. operates as a specialty retailing company.

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The Goldman Sachs Group, Inc. (NYSE: GS) announced that the Federal Reserve has concluded that it has no objection to Goldman Sachs’ proposed 2011 capital actions, which include the redemption in full of the 50,000 shares of the Company’s 10% Cumulative Perpetual Preferred Stock, Series G (Preferred Shares) held by Berkshire Hathaway Inc. and certain of its subsidiaries (collectively, Berkshire Hathaway), the repurchase of outstanding common stock and a potential increase in our quarterly common stock dividend.

 

The redemption includes a one-time preferred dividend of approximately $1.64 billion which will be reflected in the Company’s first quarter results. This is expected to reduce reported diluted earnings per common share for the first quarter by approximately $2.80 per share.

 

The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm 

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The Charles Schwab Corporation (NYSE:SCHW) and optionsXpress Holdings, Inc., (NASDAQ-GS:OXPS) announced they have signed a definitive agreement under which Schwab will acquire optionsXpress. Under the terms of the agreement, optionsXpress stockholders will receive 1.02 shares of Schwab stock for each share of optionsXpress stock. Based on Schwab’s closing stock price as of March 18, 2011, the transaction values each optionsXpress share at $17.91, resulting in a total transaction value of approximately $1.0 billion. Both companies will initially retain their separate brand identities, while benefitting from significant synergies and capabilities across their complementary business lines. The deal is expected to close during the third quarter, subject to optionsXpress stockholder approval and regulatory approvals, along with customary closing conditions.

 

The Charles Schwab Corporation (NYSE:SCHW) is a leading provider of financial services, with more than 300 offices and 8.0 million client brokerage accounts, 1.4 million corporate retirement plan participants, 710,000 banking accounts, and $1.6 trillion in client assets. 

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Bank fees may soar
 

With analysts speculating that checking fees may soar, consumers face big decisions ahead.  This month's Financial Security Index, released by Bankrate Inc., shows that nearly two-thirds of Americans say they would move to other banks over increased bank fees.

 

The poll, conducted by Princeton Survey Research Associates International

 

Among the findings:

At 75 percent, adults making $75,000 or more per year, were most likely to consider moving their accounts;

Nearly three out of four people, or 71 percent, under the age of 30 would choose a new financial institution if prices rose;

 

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