On Friday, Shares of Altria Group Inc. (NYSE:MO), dropped -0.53% to $52.07.
Altria Group, declared its 2015 first-quarter business results and reaffirmed guidance for 2015 full-year adjusted diluted EPS.
Cash Returns to Shareholders - Dividends and Share Repurchase Program
In February 2015, Altria’s Board of Directors (Board) declared a regular quarterly dividend of $0.52 per share. The current annualized dividend rate is $2.08 per share. As of April 17, 2015, Altria’s annualized dividend yield was 4.0%. Altria paid about $1.0 billion in dividends in the first quarter and anticipates to continue to return a large amount of cash to shareholders in the form of dividends by maintaining a dividend payout ratio target of about 80% of its adjusted diluted EPS. Future dividend payments remain subject to the discretion of the Board.
During the first quarter of 2015, Altria repurchased about 3.6 million shares of its common stock at an average price of $53.03 for a total cost of $192 million. Altria has about $326 million remaining in the current $1 billion program, which it anticipates to complete by the end of 2015. The timing of share repurchases depends upon marketplace conditions and other factors. This program remains subject to the discretion of the Board.
Altria Group, Inc., through its auxiliaries, manufactures and sells cigarettes, smokeless products, and wine in the United States and internationally. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, Husky, and Marlboro Snus brand names.
Shares of Houghton Mifflin Harcourt Company (NASDAQ:HMHC), declined -0.53% to $24.21, during its last trading session, hitting its highest level.
Houghton Mifflin Harcourt, declared that it has reached a definitive agreement to acquire the Educational Technology and Services business of Scholastic Corporation for $575 million in cash, subject to customary working capital adjustments.
The acquisition would provide HMH with a leading position in intervention curriculum and services and extend its product offerings in key growth areas, counting educational technology, early learning, and education services, creating a more comprehensive offering for students, teachers and schools. The transaction is predictable to be accretive to HMH net income and free cash flow in 2016 and to yield synergies in 2016 and beyond with annual cost savings of $10 to $20 million. The transaction is predictable to close in the second calendar quarter of 2015, subject to closing conditions and regulatory approval.
The transaction would provide added digital infrastructure and expertise to support the continued development of next-generation products for HMH’s pre-K-12 and consumer businesses. In addition, HMH believes that combining EdTech’s digital intervention solutions sales expertise with HMH’s already strong sales organization will create new opportunities and accelerate the Company’s growth.
Houghton Mifflin Harcourt Company provides education solutions for educational institutions and consumers worldwide. It delivers content, technology, and services to about 50 million students. The company operates in two segments, Education and Trade Publishing.
At the end of Friday’s trade, Shares of TD Ameritrade Holding Corporation (NYSE:AMTD), dwindled -0.53% to $35.78.
TD Ameritrade, declared that its brokerage partner TD Ameritrade, Inc. (“TD Ameritrade”), was honored with a “Special Achievement – Educational Initiative” at Benzinga’s Fintech Awards for bringing trading to the classroom.
The awards strive to seek out the most innovative companies within the rapidly growing financial technology and capital markets sector. More than 100 companies presented their technology to the Benzinga Fintech Awards, an online competition that pitted financial technology companies against each other for the title of the “Most Innovative Fintech Company.”
The TD Ameritrade U program assists bridge the gap between academia and reality. It provides teachers with tools that assist their students put market theory into practice using TD Ameritrade’s thinkorswim trading platform. It’s a new way to introduce millennials to the stock market and let them experience what it’s like to invest. Already in more than 250 colleges and universities, TD Ameritrade U recently launched new tools, resources and automated registration to support the growth and scale of this successful initiative.
TD Ameritrade Holding Corporation provides securities brokerage services and related technology-based financial services to retail investors, traders, and independent registered investment advisors (RIAs) in the United States.
Finally, Baxter International Inc. (NYSE:BAX), ended its last trade with -0.52% loss, and closed at $71.14.
Baxter International, stated first quarter financial results that exceeded the company’s formerly issued guidance. Baxter stated first quarter net income of $430 million and earnings per diluted share of $0.78, contrast to net income of $556 million and earnings per diluted share of $1.01 in the same period last year. First quarter 2015 results comprise net after-tax special items totaling $120 million (or $0.22 per diluted share), primarily for intangible asset amortization, costs associated with the company’s planned separation and the integration of its Gambro AB acquisition, partially offset by a benefit related to the reversal of certain business optimization reserves. First quarter 2014 results comprised of net after-tax charges totaling $96 million (or $0.18 per diluted share).
On an adjusted basis, not taking into account special items in both periods, Baxter stated first quarter net income of $550 million contrast to $652 million stated in 2014. For the quarter, adjusted earnings of $1.00 per diluted share, which comprised of unplanned other income of $74 million (or $0.11 per diluted share), exceeded the company’s formerly issued earnings guidance of $0.85 to $0.90 per diluted share.
Worldwide sales of $3.76 billion declined 2 percent from the $3.85 billion stated in the first quarter of 2014. Not taking into account the impact of foreign currency, Baxter’s sales raised 4 percent. Sales in the United States grew 4 percent to $1.7 billion, while international sales of $2.1 billion declined 6 percent from the preceding-year period. Not taking into account foreign currency, international sales raised 5 percent.
Baxter International Inc., develops, manufactures, and markets products for people with hemophilia, immune disorders, infectious diseases, kidney disease, trauma, and other chronic and acute medical conditions.
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