Atlanta, Georgia-based $NWL said its BoD declared a quarterly cash dividend of $0.19 per share. The dividend is payable June 15, 2016 to common stockholders of record at the close of business on May 31, 2016.
$WFC agreed to hike its payout in a class-action settlement over unauthorized accounts by $32 million to $142 million for its retail sales practices. The settlement will now include customers who were impacted as early as May 2002.
$FRGI now expects to recognize impairment charges of about $33-37MM in 1Q17, and related lease and other charges of $9-12MM in 2Q17 based on the actual timing of restaurant closures. Annualized general and administrative expense savings are estimated to be $2.5-2.7MM.
$FRGI reported preliminary comparable restaurant sales decreased 6.7% and 4.5% at Pollo Tropical and Taco Cabana for 1Q17. Industrywide headwinds, which were particularly prevalent in Florida and Texas, and the impact of sales cannibalization continued to negatively impact topline performance.
$FRGI announced an overview and initial steps in its plan to drive long-term value creation. The company plans to relaunch the Pollo Tropical brand in September of this year and to relaunch the Taco Cabana brand late in the year once priority initiatives under the Renewal Plan are achieved.
$UBSI completed its acquisition of Cardinal Financial Corp. This transaction marks the 31st acquisition United has completed under the current administration and the tenth acquisition in the D.C. Metro region.