During Wednesday’s Current trade, Shares of ARMOUR Residential REIT, Inc. (NYSE:ARR), lost -0.17% to $2.90.
RMOUR Residential REIT, Inc. (ARR) confirmed the Q3 2015 monthly cash dividend rates for the Company’s Common Stock and Series A and Series B Preferred Stock.
Common Stock 1-for-8 Reverse Split and Q3 2015 Dividend Information
As formerly declared on June 18, 2015, the Company’s Board of Directors has approved a reverse stock split of ARMOUR’s outstanding shares of common stock at a ratio of one-for-eight, which is planned to take effect at about 5:00 p.m. Eastern Time on July 31, 2015. The July 2015 dividend rate of $0.04 per common share, which is the same as the Q2 2015 dividend rate, does not reflect the effect of the reverse stock split and would be equivalent to $0.32 per common share on a basis reflecting the one-for-eight reverse stock split. After the completion of the reverse stock split on July 31, 2015, ARMOUR’s August 2015 and September 2015 dividend rates will be $0.33 per share. The following table summarizes the Q3 2015 dividend information for the Company’s Common Stock:
ARMOUR Residential REIT, Inc. invests in and manages a portfolio of residential mortgage backed securities in the United States. The company is managed by ARMOUR Capital Administration LP. Its securities portfolio primarily comprises of agency securities backed by fixed rate, hybrid adjustable rate, and adjustable rate home loans, in addition to unsecured notes and bonds issued by the government-sponsored entities and the United States treasuries; and money market instruments.
Shares of Cenovus Energy Inc (USA) (NYSE:CVE), declined -1.99% to $14.79, during its current trading session.
Cenovus Energy Inc. (CVE) (CVE) has reached an agreement to sell Heritage Royalty Limited Partnership (HRP), a wholly-owned subsidiary, to Ontario Teachers’ Pension Plan (Teachers’) for gross cash proceeds of approximately $3.3 billion. HRP holds approximately 4.8 million gross acres of royalty interest and mineral fee title lands in Alberta, Saskatchewan and Manitoba. In the first quarter of 2015, HRP had associated third-party royalty interest volumes of approximately 7,800 barrels of oil equivalent per day (BOE/d). Additional royalties have also been added to HRP – a royalty on Cenovus’s working interest production with implied first quarter volumes of approximately 5,400 BOE/d (pro forma), as well as a Gross Overriding Royalty (GORR) on Cenovus’s Pelican Lake heavy oil property in northern Alberta and its enhanced oil recovery project in Weyburn, Saskatchewan, with implied first quarter volumes of 1,600 BOE/d (pro forma). The GORR represents less than 15% of HRP’s cash flow.
Cenovus’s decision to sell HRP to Teachers’ is the outcome of a rigorous marketing process that attracted significant interest. Over the past several months, the company considered several alternatives to generate value from the business, including a potential initial public offering. After a thorough review, the transaction with Teachers’ was determined to be the best alternative to maximize value for Cenovus shareholders.
Cenovus Energy Inc., an integrated oil company, develops, produces, and markets crude oil, natural gas liquids (NGLs), and natural gas in Canada with refining operations in the United States. The company’s Oil Sands segment engages in the development and production of bitumen assets at Foster Creek, Christina Lake, Narrows Lake, and the Athabasca natural gas assets, in addition to projects in the early stages of development, such as Grand Rapids and Telephone Lake. Its Conventional segment develops and produces conventional crude oil, NGLs, and natural gas in Alberta and Saskatchewan, counting the heavy oil assets at Pelican Lake.
FirstEnergy Corp. (NYSE:FE), during its Wednesday’s current trading session decreased -0.65% to $33.84.
Metropolitan Edison (Met-Ed), a partner of FirstEnergy Corp. (FE), named Brett W. Reynolds as vice president, FE Products, effective August 1, 2015.
Reynolds will oversee the newly formed FirstEnergy Products group and will report to Dennis M. Chack, senior vice president, Marketing and Branding. Reynolds will be responsible for planning, developing, and plannedally implementing new value-added product and service offerings across a variety of customer segments and markets. He also will work to enhance the company’s existing consumer product offerings, such as professional tree-trimming, landscape lighting and household electrical services.
Reynolds holds a bachelor’s degree in marketing from the University of Akron and is a recipient of the Distinguished Alumni Award. He presently serves on the Northeast Ohio Marketing Leadership Roundtable and volunteers at several local community organizations.
FirstEnergy Corp., through its auxiliaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates fossil, coal-fired, nuclear, oil and natural gas, wind and solar power, and hydroelectric generating facilities. The company also provides energy-related products and services to wholesale and retail customers.
Finally, Navient Corp (NASDAQ:NAVI), decreased -1.50%, to $18.68.
Navient, the nation’s leading loan administration, servicing and asset Recovery Company, has declared that Navient Foundation, the company-sponsored philanthropic organization, awarded a $6,000 grant to Nemours Foundation. The contribution will assist support the Wilmington children’s hospital and to sponsor the 2015 “Assist Our Kids” radiothon.
Since 2010, Nemours/Alfred I. DuPont hospital has hosted its annual “Assist Our Kids” radiothon, where local radio stations broadcast live from the hospital, interviewing patients, physicians, nurses and others, while encouraging listeners to phone in and make donations.
Navient Corporation provides financial products and services in the United States. The company operates in four segments: FFELP Loans, Private Education Loans, Business Services, and Other. It provides federal family education loan program (FFELP) loans and servicing for FFELP loan portfolio; and servicing and asset recovery services for loans on behalf of guarantors of FFELP loans, guaranty agencies, higher education institutions, the United States Department of Education, and other federal clients, in addition to states, courts, and municipalities.
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