On Monday, Shares of Kohl’s Corporation (NYSE:KSS), lost -0.09% to $66.07.
Kohl’s Corporation (NYSE:KSS), held its annual shareholders’ meeting. Following are the preliminary results for the five initiatives voted upon by shareholders:
- Kohl’s shareholders re-elected Peter Boneparth, Steven A. Burd, Dale E. Jones, Kevin Mansell, John E. Schlifske, Frank V. Sica, Stephanie A. Streeter, Nina G. Vaca and Stephen E. Watson to the board of directors for one-year terms, with an average vote of more than 95 percent of the votes cast.
As of the annual meeting, Peter Sommerhauser retired from Kohl’s board of directors. Kevin Mansell, Kohl’s chairman, CEO and president, thanked Mr. Sommerhauser for his many years of strategic counsel and service to Kohl’s. Following the retirement of Mr. Sommerhauser the size of the board of directors was reduced to nine members.
- A proposal to ratify the appointment of Ernst & Young LLP as Kohl’s independent registered public accounting firm received approximately 96 percent of the votes cast.
- A non-binding advisory vote to approve the compensation of Kohl’s executive officers received approximately 95 percent of the votes cast.
- A shareholder proposal seeking adoption of a policy regarding the recovery of unearned management bonuses received approximately 34 percent of the votes cast.
- A shareholder proposal seeking adoption of a proxy access bylaw received approximately 73 percent of the votes cast.
Noting the Kohl’s board of directors’ long history of listening to the company’s shareholders, Mr. Mansell stated that the board’s Governance & Nominating Committee will be meeting to review these results in the near future.
Shares of Coach Inc (NYSE:COH), inclined 0.40% to $37.61, during its last trading session.
Coach, Inc. (COH), declared that its Board of Directors has declared a quarterly cash dividend of $0.3375 per common share. The dividend is payable on June 29, 2015 to shareholders of record as of the close of business on June 5, 2015.
Coach, Inc. provides luxury accessories and lifestyle collections for women and men in the United States and internationally. It offers handbags, money pieces, wristlets, rings, charms, and cosmetic cases for women; and business cases, computer bags, messenger-style bags, totes, wallets, card cases, and belts, as well as time management and electronic accessories for men.
At the end of Monday’s trade, Shares of KKR & Co. L.P. (NYSE:KKR), gained 0.48% to $23.12.
Fujian Sunner Development Co. Ltd., a leading vertically integrated chicken meat producer in China, and global investment firm KKR declared the closing of KKR’s strategic investment. KKR invested approximately $400 million in Sunner for an 18% stake at RMB 12.3 per share (USD 2.0 per share).
Sunner and KKR’s new strategic partnership will expand the Company’s operations to provide safe chicken products to increasingly discerning Chinese consumers who seek high‐quality meats. The two will partner in supporting the company’s growth by leveraging Sunner’s industry knowledge and specialist expertise with KKR’s global and local agricultural investment experience and network.
KKR & Co. L.P. is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, management buyouts, credit special situations, growth equity, mature, mezzanine, distressed, and middle market investments.
Finally, Lexington Realty Trust (NYSE:LXP), ended its last trade with 0.64% gain, and closed at $9.37.
Lexington Realty Trust (NYSE:LXP), declared results for the first quarter ended March 31, 2015.
First Quarter 2015 Highlights
- Generated Company Funds From Operations (“Company FFO”) of $64.5 million, or $0.26 per diluted common share.
- Raised low end of 2015 FFO guidance by $0.01 per share to new range of $1.01 - $1.05 per share.
- Acquired five properties for $197.3 million.
- Invested $21.5 million in on-going build-to-suit projects and agreed to acquire an industrial property for $29.7 million.
- Disposed of three office buildings for gross disposition proceeds of $35.2 million.
- Retired $113.6 million of secured debt and closed $80.8 million of long-term financing with a weighted-average fixed interest rate of 3.7% and a weighted-average term of approximately 12 years.
- Completed 0.9 million square feet of new leases and lease extensions with overall portfolio 96.7% leased.
- Leased Lakewood, CO office property subsequent to quarter end.
Lexington Corporate Properties Trust operates as a self-managed and self-administered real estate investment trust (REIT). The company acquires, owns, and manages a portfolio of office, industrial, and retail properties net-leased to corporate tenants in the United States.
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