Last August, in a bid to increase trading in Triarc's shares, the company's board authorized a special dividend that tripled the company's outstanding shares to 64 million, including both Class A and Class B shares.
(a) The board of directors of a Federal credit union may authorize an interest refund to members who paid interest to the credit union during any dividend period and who are members of record at the close of business on the last day of such dividend period.
Freeport-McMoRan Copper and Gold Inc., owner of the world's biggest gold mine, more than doubled its dividend and authorized a share buyback after investors urged the company to return some excess cash.
The increase accelerated after JPMorgan Chase said late in the day that it was raising its dividend and authorizing a stock buyback as news emerged that after the markets closed, the Federal Reserve would release its latest round of "stress tests" of the nation's major banks.
The board of directors for a corporation will typically authorize stock dividends as a percentage of the outstanding shares of stock.
Microsoft, long criticized for sitting on too much cash, in 2004 paid out a one-time dividend of $32 billion, and authorized a $30 billion stock buyback.
Apple said that it would pay a quarterly dividend of $2.65 a share beginning in its fiscal fourth quarter, which starts July 1, and that its board had authorized a $10 billion share buyback starting Sept. 30.
New legislation authorizing a backstop of the mortgage finance companies leaves it up to the Treasury secretary to decide whether to honor preferred dividend payments or to repay subordinated bondholders before the government, an S.& P. analyst, Victoria Wagner, said.
Clinton authorized a lethal attack.
Newport authorized a lawsuit last week.
The Board of Directors authorized an increase in the quarterly cash dividend from $0.20 to $0.25.
