On Friday, Farmland Partners Inc (NYSEMKT:FPI)’s shares declined -0.45% to $11.00.
Farmland Partners Inc. (FPI) declared that it has entered into a purchase agreement to acquire a blueberry farm in Michigan comprised of approximately 181 acres for a purchase price of $2.5 million in cash. The acquisition is expected to close in the third quarter of this year, subject to customary closing conditions. In the first full year of the Company’s ownership, this farm is expected to have an annual rental income of 8% to 10% of the purchase price. This farm adjoins the other Michigan blueberry farm the Company put under contract.
Farmland Partners Inc., a real estate company, owns and seeks to acquire primary crop farmland located in agricultural markets throughout North America. As of March 19, 2015, the company owned 93 farms with an aggregate of about 49,346 acres in Arkansas, Colorado, Illinois, Louisiana, Mississippi, Nebraska, and South Caro
Paragon Offshore PLC (NYSE:PGN)’s shares dropped -7.27% to $0.810.
Paragon Offshore PLC (PGN) declared that it has reached a sale-leaseback agreement, worth $300 million, with SinoEnergy Corp., a British Virgin Islands registered private investment company.
Per the deal, Paragon Offshore is predictable to sell two of its heavy duty jack-up rigs – capable of operating in a harsh environment – and will simultaneously lease the units back for a period of five years. The company added that the fund from the sale should boost its liquidity and be utilized for reducing debt.
After deducting fees and expenses, Paragon Offshore will likely get $292 million from the divestment – implying Paragon Offshore’s intention to free up cash especially in the unfavorable oil pricing environment.
It is to be noted, that through Nov 2016, the dayrate for one rig is $71,000. For the remaining period of the rig’s charter, the dayrate is anticipated to come down to $42,000 each day. Moreover, the other jackup’s initial day rate per day will likely be $71,000 through Feb 2018. After that, the rate will decrease to $42,000 for the remaining period.
Paragon Offshore plc, together with its auxiliaries, provides offshore drilling rigs. The company is involved in contracting its rigs, related equipment, and work crews to conduct oil and gas drilling and workover operations for its exploration and production customers on a day rate basis. Its drilling fleet comprises of 34 jackups and 6 floaters, counting 4 drillships and 2 semisubmersibles.
At the end of Friday’s trade, Kellogg Company (NYSE:K)‘s shares dipped -0.23% to $64.35.
This summer, as the official breakfast of Little League, Kellogg Company (NYSE:K)’s Frosted Flakes® is calling all dads and kids to “Show Their Stripes” – spotlighting the way they play sports with a sense of passion, sportsmanship and team spirit. From sharing a moment during a pre-game ritual or encouraging good sportsmanship on the field, the #ShowYourStripes program will celebrate the play in playing sports, and those that show what being a good sport is all about this Little League season.
To kick off the summer, Kellogg’s Frosted Flakes released an inspirational video compilation of last year’s best “Show Your Stripes” moments from the 2014 Little League Baseball and Softball World Series, encouraging Dad to hit the field with his kid and make memories of their own during the 2015 season. Head to the Kellogg’s Frosted Flakes YouTube page to check out their “Kids of Summer” video. And throughout this summer, Kellogg’s Frosted Flakes is encouraging everyone to share their #ShowYourStripes moments on social media.
Kellogg Company, together with its auxiliaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Morning Foods, U.S. Snacks, U.S. Specialty, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products comprise ready-to-eat cereals and convenience foods, such as cookies, crackers, savory snacks, frozen foods, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles, and veggie foods, in addition to health and wellness business bars, and beverages.
Western Refining, Inc. (NYSE:WNR), ended its Friday’s trading session with 0.27% gain, and closed at $48.38.
Western Refining, Inc. (WNR) declared its Board of Directors approved a $0.34 per share dividend for the third quarter of 2015. The dividend will be paid on August 12, 2015, to shareholders of record at the close of market on July 27, 2015.
Western Refining, Inc. operates as an independent crude oil refiner and marketer of refined products. The company operates in four segments: Refining, NTI, WNRL, and Retail. The Refining segment owns and operates two refineries that process crude oil and other feed stocks primarily into gasoline, diesel fuel, jet fuel, and asphalt; and markets refined products to various customers, counting wholesale distributors and retail chains.
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