Altria (MO)
The company said it will buy back $2 billion worth of its debt. It is also issuing additional debt through a public offering. It said the transactions are expected to reduce its future interest expense.
MeadWestvaco (MWV)
Douglas Luke, a director, sold 1,489 shares at $38.93 per share for a total of approximately $58,000.
The packaging firm said it is selling all of its forestland holdings in the U.S. to Plum Creek Timber Company. The company will also invest in a partnership tied to MWV’s real estate development properties around Charleston, S.C. The total purchase price is $1.1 billion. MWV intends to return approximately $665 million of the proceeds from the transaction to its shareholders. MWV’s forestland assets include about 501,000 acres in Alabama, Georgia, South Carolina, Virginia and West Virginia. MWV will retain full ownership of its oil and natural gas rights on approximately 191,000 acres of land in West Virginia that are located over the Marcellus Shale fairway. The two parties struck a deal that will supply MWV with fiber from the timberlands for its paperboard mill in Covington, Va. The deal is expected to close in the fourth quarter.
NewMarket (NEU)
The company declared a quarterly dividend of $1.10 per share of common stock payable Jan. 1, 2014, to NewMarket shareholders of record at the close of business on Dec. 16, 2013.
Universal Corp. (UVV)
The company entered into a 5-year loan agreement for $175 million involving JPMorgan Chase Bank, SunTrust Bank, AgFirst Farm Credit Bank and Fifth Third Bank.
Altria (MO)
The company said it will buy back $2 billion worth of its debt. It is also issuing additional debt through a public offering. It said the transactions are expected to reduce its future interest expense.
MeadWestvaco (MWV)
Douglas Luke, a director, sold 1,489 shares at $38.93 per share for a total of approximately $58,000.
The packaging firm said it is selling all of its forestland holdings in the U.S. to Plum Creek Timber Company. The company will also invest in a partnership tied to MWV’s real estate development properties around Charleston, S.C. The total purchase price is $1.1 billion. MWV intends to return approximately $665 million of the proceeds from the transaction to its shareholders. MWV’s forestland assets include about 501,000 acres in Alabama, Georgia, South Carolina, Virginia and West Virginia. MWV will retain full ownership of its oil and natural gas rights on approximately 191,000 acres of land in West Virginia that are located over the Marcellus Shale fairway. The two parties struck a deal that will supply MWV with fiber from the timberlands for its paperboard mill in Covington, Va. The deal is expected to close in the fourth quarter.
NewMarket (NEU)
The company declared a quarterly dividend of $1.10 per share of common stock payable Jan. 1, 2014, to NewMarket shareholders of record at the close of business on Dec. 16, 2013.
Universal Corp. (UVV)
The company entered into a 5-year loan agreement for $175 million involving JPMorgan Chase Bank, SunTrust Bank, AgFirst Farm Credit Bank and Fifth Third Bank.