CarMax (KMX)
The used car retailer reported its quarterly earnings for the company’s second quarter, which ended Aug. 31. CarMax reported a net income of $133 million for the period, an increase of about 12% compared to the same period the previous year.
Dominion (D)
The power utility announced that it completed a previously announced sale of Public Service Co. of North Carolina to Canada-based Enbridge Inc. for $2 billion in cash. Enbridge also assumed about $1.2 billion in debt from Dominion as part of the deal.
Public Service Co. of North Carolina is a public utility that provides natural gas to customers in North Carolina. The deal was the last of three sales of gas utilities from Dominion to Enbridge.
Hamilton Beach Brands (HBB)
The electrical products supplier recently announced that CEO Gregory Trepp intends to retire on Dec. 31, 2024. He resigned effective Sept. 30 as both top executive and member of the board of directors. Trepp plans to stay on at the company until the end of the year to help with the transition.
The board appointed R. Scott Tidey as CEO effective Oct. 1, 2024. More details about the leadership change can be found here.
Kinsale Capital Group (KNSL)
The Henrico-based insurer elected Mary Jane B. Fortin to its board of directors, effective Oct. 1. Fortin has previously held executive roles at at Thrivent Financial, Allstate Financial, AIG and The Hartford. A CPA, Fortin has degrees from the University of Connecticut and the Wharton School of the University of Pennsylvania. Kinsale’s board has now been increased from nine members to 10.
Medalist Diversified REIT (MDRR)
The commercial real estate-focused REIT recently amended a credit agreement, which was previously announced in June 2022, with Wells Fargo. As part of the amended agreement, the line of credit increased to $4 million from $1.5 million.
The REIT also announced earlier this month that the board of directors approved a quarterly dividend of 6 cents per share of common stock to be payable on Oct. 21 to holders of record as of Oct. 16. Full announcement here.
NewMarket (NEU)
The petroleum-focused holding company announced that William Skrobacz will step down as the company’s CFO effective Dec. 31. He plans to retire in 2025. Effective Jan. 1, 2025, Timothy Fitzgerald will succeed Skrobacz as vice president and CFO. Full announcement here.
Owens & Minor (OMI)
The healthcare logistics company redeemed all its outstanding 4.375% senior notes due 2024 on Sept. 16, which had an outstanding aggregate principal amount of $171.3 million, per a recent company filing.
Performance Food Group (PFGC)
The Goochland-based foods distributor released its latest proxy statement, disclosing compensation packages paid last year to its top executives.
CEO George Holm received a total pay package of $10.4 million. He received a base salary of $1.2 million, $7 million in stock awards and $2.2 million in other incentives.
Click here and see page 58 for the full compensation table. The proxy also announced the date of the company’s annual shareholders meeting, to be held Nov. 20.
The company earlier this month announced that it completed the purchase of Cheney Bros., a Florida-based foodservice distributor. Terms of the deal weren’t disclosed.