On Wednesday, Shares of Albemarle Corporation (NYSE:ALB), gained 0.63% to $43.07.
Albemarle Corporation declared that it will relocate its corporate headquarters and its Performance Chemicals business from Baton Rouge, La. to Charlotte, N.C. In addition, it will relocate Baton Rouge employees in its Refining Solutions business to its existing Clear Lake, Texas office. About 120 of the company’s employees will be relocated to Charlotte and Clear Lake, with the majority of the relocations predictable to take place in June 2016.
“As we look at the ever-increasing demands for communication, partnership and mobility for our employees and our customers, Charlotte is the best planned location to base the new Albemarle,” said Luke Kissam, Albemarle’s president and chief executive officer. “Located about 35 miles from our state-of-the-art lithium facility in Kings Mountain, metropolitan Charlotte provides easy and fast connectivity with customers and colleagues, fostering a collaborative environment and culture for our team. We look forward to expanding our presence in North Carolina becoming an even more noteworthy partner in the communities where we live and operate.”
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. The company’s Performance Chemicals segment offers brominated flame retardants under the Saytex brand; mineral-based flame retardants under the Martinal and Magnifin brands; and elemental bromine, alkyl bromides, inorganic bromides, brominated powdered activated carbon, and bromine fine chemicals that are used in chemical synthesis, oil and gas well drilling and completion fluids, mercury control, paper manufacturing, water purification, beef and poultry processing, and various other industrial applications.
Shares of Cousins Properties Inc (NYSE:CUZ), inclined 1.37% to $8.87, during its last trading session.
Cousins Properties Incorporated declared that Colorado Tower, its $126 million office development in downtown Austin, TX, is 100 percent leased just eight months after construction completion in January 2015.
“Austin continues to exceed our expectations,” said Larry Gellerstedt, President, and Chief Executive Officer of Cousins Properties. “With Colorado Tower now 100% leased at rents which have grown over 35% since our initial leasing efforts began in 2012, this project represents another outstanding win for Cousins and our shareholders.”
Cousins commenced construction on the 373,000 square foot, Class-A office tower in June 2013 with 17 percent of the space pre-leased. The building is presently 77% occupied and is projected to reach stabilized occupancy during the first quarter of 2016.
Cousins has played a prominent role in the Austin real estate market for over 20 years, with notable recent projects counting the development of Frost Bank Tower, the acquisition of 816 Congress and its most recent project under development, Research Park V.
Cousins Properties Incorporated, a real estate investment trust (REIT), owns, develops, and manages real estate portfolio, in addition to performs certain real estate-related services in the United States. The company operates through four divisions: Office/Multi-Family, Retail, Industrial, and Land.
At the end of Wednesday’s trade, Shares of Starz (NASDAQ:STRZA), gained 2.08% to $36.74.
Starz CEO Chris Albrecht said, “We were happy with the performance of our businesses in the quarter with revenue up 2% and Adjusted OIBDA and operating income enhances of 5%.
Merged
For the quarter, revenue raised 2% to $417.7 million, Adjusted OIBDA raised 5% to $123.4 million, and operating income raised 5% to $110.5 million.
Starz Networks
Revenue raised 2% to $333.3 million primarily as a result of rate enhances from various distributors. Adjusted OIBDA was consistent with the preceding year at $122.2 million due to the improvement in revenue and lower programming costs, offset by an improvement in advertising and marketing related to original programming. Operating income was consistent with the preceding year at $110.9 million. Cash paid for investment in films and television programs raised $11.1 million to $71.2 million due to a greater number of original series in production.
Starz Distribution
Revenue raised 4% to $78.4 million and Adjusted OIBDA raised $5.8 million to $2.0 million primarily because of the distribution of films for The Weinstein Company. Operating income raised $6.3 million to $1.1 million. Cash paid for investment in films and television programs raised $12.8 million to $53.7 million due to timing of payments for Weinstein titles.
Share Repurchases
From May 1, 2015 through July 31, 2015, 0.7 million shares of common stock were purchased at an average cost per share of $42.25 for total cash consideration of $29.9 million. Since trading began on January 14, 2013, Starz has repurchased 23.6 million shares at an average cost per share of $28.06 for aggregate cash consideration of $661.5 million. These repurchases represent 19.4% of the shares outstanding as of January 14, 2013.
Starz presently has $138.5 million remaining under its share repurchase authorization. Under its share repurchase program, Starz may acquire its common stock from time to time, through open market transactions and privately negotiated transactions. The share repurchase program may be suspended at any time. Starz, through its auxiliaries, operates as a media and entertainment company. It operates through Starz Networks, Starz Distribution, and Starz Animation segments. The Starz Networks segment provides premium subscription video programming to U.S. multichannel video programming distributors (MVPDs), counting cable operators, satellite television providers, and telecommunications companies.
Finally, Enerplus Corp (USA) (NYSE:ERF), ended its last trade with 5.74% gain, and closed at $4.97.
Enerplus Corporation, declared that a cash dividend for CDN$0.05 per share will be payable on September 15, 2015 to all shareholders of record at the close of business on August 31, 2015. The ex-dividend date for this payment is August 27, 2015.
The CDN$0.05 per share dividend is equivalent to about US$0.04 per share if converted using the current Canadian/US dollar exchange rate of 0.7596. The U.S. dollar equivalent dividend will be based upon the actual Canadian/US exchange rate applied on the payment date and will be net of any Canadian withholding taxes that may be applicable. Dividends paid by Enerplus are considered an “eligible dividend” for Canadian tax purposes. For U.S. income tax purposes, Enerplus’ dividends are considered “qualified dividends”.
Enerplus Corporation, together with auxiliaries, engages in the exploration and development of crude oil and natural gas in the United States and Canada. The company primarily has interests in about 162,000 net acres of lands comprising about 77,000 net acres targeting the Stacked Mannville zones and 85,000 net acres targeting the Duvernay formation in the Deep Basin region, Canada.
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