Altria Group
Altria’s board declared a quarterly dividend of $0.38 per common share, payable July 11 to shareholders of record as of June 15.
The company appointed Thomas Farrell, who is also the CEO of Dominion Resources, to serve as presiding director on the Altria board. Farrell fills that role after the announced retirement of Robert E. R. Huntley from the board.
The company’s directors each were awarded thousands of shares of restricted stock as part of a deferred compensation plan.
Bank of Virginia
The Midlothian-based bank said it hired Richard Dickinson as its new chief operating officer. Dickinson, who will receive a base salary of $220,000, previously spent 30 years with SunTrust Bank, most recently as a senior credit officer overseeing commercial real estate. His hiring is subject to regulatory approval. Dickinson is a graduate of the University of Richmond.
Dominion Resources
Director William Barr acquired 2,075 shares for $48.17 per share, an almost $100,000 purchase. Barr now owns more than 12,000 shares of Dominion stock.
Dynex Capital
Director Barry Igdaloff bought 7,800 shares for $9.67 each, or about $75,000. He owns more than 300,000 Dynex shares.
Massey Energy
A class-action lawsuit is attempting to block Massey from being acquired by Alpha Natural Resources. The plaintiffs in the suit allege, among other things, that a proxy filed by Massey in late April was false and misleading. The suit alleges that the proxy did not disclose details about a committee that was formed by Massey to investigate claims about safety conditions within the company.
The suit also claims that details were not disclosed in regards to committee’s alleged recommendation that former Massey CEO Don Blankenship be removed and that this was the reason he submitted his resignation Dec. 3 and ultimately was the reason the company decided it had no alternative but to sell Massey to a third party.
Massey said it disputes the plaintiffs’ characterizations of these events.
MeadWestvaco
Robert McCormack, a director, exercised options for 1,455 shares at $29.55 each, or about $43,000. He then sold those shares at market price for $33.58, almost $49,000.
Owens & Minor
Mark Van Sumeren, a senior vice president, sold 6,667 shares for $35.05 each, a total of more than $233,000. The sale was part of a previously disclosed trading plan. He still owns more than 37,000 shares.
Universal Corp.
Universal declared a quarterly dividend of $0.48 per common share payable Aug. 8 to common shareholders of record at the close of business July 11.
The company’s board also declared a dividend of $16.87 per share on its Series B preferred stock, payable June 15 to shareholders of record as of 5 p.m. June 1.
Universal also announced that its annual shareholders meeting would be Aug. 4 at the company’s headquarters building on Forest Hill Avenue.
Michael Schwartz is a BizSense editor. Please send news tips to [email protected].
Altria Group
Altria’s board declared a quarterly dividend of $0.38 per common share, payable July 11 to shareholders of record as of June 15.
The company appointed Thomas Farrell, who is also the CEO of Dominion Resources, to serve as presiding director on the Altria board. Farrell fills that role after the announced retirement of Robert E. R. Huntley from the board.
The company’s directors each were awarded thousands of shares of restricted stock as part of a deferred compensation plan.
Bank of Virginia
The Midlothian-based bank said it hired Richard Dickinson as its new chief operating officer. Dickinson, who will receive a base salary of $220,000, previously spent 30 years with SunTrust Bank, most recently as a senior credit officer overseeing commercial real estate. His hiring is subject to regulatory approval. Dickinson is a graduate of the University of Richmond.
Dominion Resources
Director William Barr acquired 2,075 shares for $48.17 per share, an almost $100,000 purchase. Barr now owns more than 12,000 shares of Dominion stock.
Dynex Capital
Director Barry Igdaloff bought 7,800 shares for $9.67 each, or about $75,000. He owns more than 300,000 Dynex shares.
Massey Energy
A class-action lawsuit is attempting to block Massey from being acquired by Alpha Natural Resources. The plaintiffs in the suit allege, among other things, that a proxy filed by Massey in late April was false and misleading. The suit alleges that the proxy did not disclose details about a committee that was formed by Massey to investigate claims about safety conditions within the company.
The suit also claims that details were not disclosed in regards to committee’s alleged recommendation that former Massey CEO Don Blankenship be removed and that this was the reason he submitted his resignation Dec. 3 and ultimately was the reason the company decided it had no alternative but to sell Massey to a third party.
Massey said it disputes the plaintiffs’ characterizations of these events.
MeadWestvaco
Robert McCormack, a director, exercised options for 1,455 shares at $29.55 each, or about $43,000. He then sold those shares at market price for $33.58, almost $49,000.
Owens & Minor
Mark Van Sumeren, a senior vice president, sold 6,667 shares for $35.05 each, a total of more than $233,000. The sale was part of a previously disclosed trading plan. He still owns more than 37,000 shares.
Universal Corp.
Universal declared a quarterly dividend of $0.48 per common share payable Aug. 8 to common shareholders of record at the close of business July 11.
The company’s board also declared a dividend of $16.87 per share on its Series B preferred stock, payable June 15 to shareholders of record as of 5 p.m. June 1.
Universal also announced that its annual shareholders meeting would be Aug. 4 at the company’s headquarters building on Forest Hill Avenue.
Michael Schwartz is a BizSense editor. Please send news tips to [email protected].