FirstEnergy (NYSE: FE) and Allegheny Energy (NYSE: AYE) to Combine in a $8.5 Billion Stock-For-Stock Transaction. Allegheny shareholders would receive 0.667 shares of FirstEnergy common stock in exchange for each share of Allegheny they own. FirstEnergy will also assume approximately $3.8 billion in Allegheny net debt. The combination creates a leading regional energy provider.
FirstEnergy is a diversified energy company and Allegheny is an investor-owned electric utility.
Progress Energy (NYSE: PGN) announced earnings were $0.50 per share, compared to $0.47 per share, last year. analysts average $0.50. PGN in line.
Fourth-quarter ongoing earnings were $142 million compared to $123 million last year. Earnings due to increased rate hikes and favorable returns on investments partially offset by increased operating cost.
Progress Energy, Inc., together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in North Carolina, South Carolina, and Florida.
Avon Products, Inc. (NYSE: AVP) declared a 5% increase in its regular quarterly dividend. The new dividend rate will be $.22 per common share, up from $.21 per share, beginning with the first-quarter dividend payable March 1, 2010, to shareholders of record February 23, 2010.
Avon Products, Inc. manufactures and markets beauty and related products worldwide.
The Board of Directors of PepsiCo, Inc. (NYSE: PEP) declared a quarterly dividend of $0.45 per share on PepsiCo common stock. The dividend is payable March 31, 2010, to shareholders of record on March 5, 2010.
PepsiCo, Inc. manufactures, markets, and sells various snacks, carbonated and non-carbonated beverages, and foods worldwide.
Airgas, Inc. (NYSE:ARG) Board of Directors increased the quarterly cash dividend on the company’s common stock by 22%, from $0.18 per share to $0.22 per share, payable March 31, 2010 to shareholders of record as of March 15, 2010.
Airgas, Inc., through its subsidiaries, distributes industrial, medical, and specialty gases, as well as hardgoods in the United States.
The Board of Directors of Chevron Corporation (NYSE: CVX) declared a quarterly dividend of sixty-eight cents ($0.68) per share, payable March 10, 2010, to holders of common stock as shown on the transfer records of the Corporation at the close of business on February 17, 2010.
Chevron Corporation operates as an integrated energy company worldwide.
Limited Brands (NYSE: LTD) declared a quarterly dividend of $.15 per share payable on March 12, 2010, to shareholders of record at the close of business on February 26, 2010.
Limited Brands, Inc. operates as a specialty retailer of women?s intimate and other apparel, beauty and personal care products, and accessories.
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