On Tuesday, Magnum Hunter Resources Corp(NYSE:MHR)’s shares declined -7.28% to $0.742.
Magnum Hunter Resources Corporation ( MHR) declared that it has declared a monthly cash dividend on the Company’s 10.25% Series C Cumulative Perpetual Preferred Stock (“Series C Preferred Stock”), a monthly cash dividend on the Company’s 8.0% Series D Cumulative Preferred Stock (“Series D Preferred Stock”) and a monthly cash dividend on the Company’s 8.0% Series E Cumulative Convertible Preferred Stock (“Series E Preferred Stock”). The outstanding shares of Series E Preferred Stock are represented by depositary shares (the “Depositary Shares”), each representing a 1/1,000th interest of a share of Series E Preferred Stock.
The dividend on the Series C Preferred Stock, which is for the month of September 2015, is payable on September 30, 2015, to holders of record at the close of business on September 15, 2015. The payment will be an annualized 10.25% per share, which is equivalent to approximately $0.2135 per share, based on the $25.00 per share liquidation preference of the Series C Preferred Stock. The Series C Preferred Stock is currently listed on the NYSE MKT and trades under the ticker symbol “MHR.PRC”.
Corporate Office Properties Trust (NYSE:OFC)’s shares dropped -1.38% to $20.74.
Corporate Office Properties Trust (OFC) has agreed to acquire 100 Light Street and its 560-space structured parking garage, 30 Light Street (together, “100 Light” or the “Transamerica Building”) in downtown Baltimore for $121.0 million. The 37-story office building contains 549,300 rentable square feet and, at June 30, 2015, was 94% leased to credit-worthy tenants, the largest three of which are Transamerica Life Insurance Company (28% of the building), Miles & Stockbridge (21%) and Ober | Kaler (17%). Located at the corner of Light and Pratt Streets – “Main & Main” in the Pratt Street Corridor – 100 Light is the tallest building in the state of Maryland.
The Company is under contract to acquire 100 Light from Lexington Realty Trust (LXP) and anticipates to complete the transaction in August of this year. The $121.0 million purchase price comprises COPT assuming the property’s $55.0 million mortgage loan, which bears interest at a fixed rate of 4.32% and matures in June 2023.
Corporate Office Properties Trust, a real estate investment trust (REIT), engages in the acquisition, development, ownership, administration, and leasing of suburban office properties. As of December 31, 2005, the company’s portfolio comprised of 165 office properties; 14 wholly owned office properties under construction or development; and land parcels totaling 311 acres. As of the above date, the company, through joint ventures, owned 18 operating properties, 2 office properties, and land parcels totaling 138 acres
At the end of Tuesday ‘s trade, Alkermes Plc (NASDAQ:ALKS)‘s shares dipped -0.25% to $59.41.
Alkermes plc (ALKS) declared that the U.S. Food and Drug Administration (FDA) has advised Alkermes that it will not be able to complete its review of the New Drug Application (NDA) for ARISTADA™ (aripiprazole lauroxil) for the treatment of schizophrenia by the Prescription Drug User Fee Act (PDUFA) action date of Aug. 22, 2015. The FDA indicated that this delay was predictable to be brief, measured in terms of weeks, but could not confirm specific timing. The FDA also indicated that no additional data or information is required from Alkermes at this time.
Alkermes Public Limited Company, an integrated biopharmaceutical company, engages in the research, development, and commercialization of pharmaceutical products to address unmet medical needs of patients in various therapeutic areas. The company offers RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; INVEGA SUSTENNA to treat schizophrenia schizoaffective disorder; AMPYRA/FAMPYRA to treat multiple sclerosis; BYDUREON to treat type II diabetes; and VIVITROL for alcohol and opioid dependence.
Hershey Co (NYSE:HSY), ended its Tuesday ‘s trading session with -2.70% loss, and closed at $87.10.
The Hershey Company (HSY) declared the pricing of its offering of $300 million of 1.600% notes due 2018 and $300 million of 3.200% notes due 2025 (the “Notes Offering”) in a public offering. The Hershey Company intends to use the net proceeds of the Notes Offering to repay at maturity its $250 million aggregate principal amount of 4.85% Notes due 2015, to fund its cash tender offer for up to $100 million aggregate purchase price of its $100 million aggregate principal amount of 8.80% Debentures due 2021 and its $250 million aggregate principal amount of 7.20% Debentures due 2027 and for general corporate purposes.
A registration statement regardingthe Notes Offering has been filed with the U.S. Securities and Exchange Commission and is effective. This press release shall not constitute an offer to sell or an offer to buy any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Notes Offering may be made only by means of a prospectus supplement and the accompanying prospectus.
The Hershey Company manufactures, imports, markets, distributes, and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and sugar confectionery products; pantry items, such as baking ingredients, toppings, sundae syrups, and beverages; snack items, counting spreads; and gum and mint refreshment products comprising chewing gums and bubble gums.
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