Tupperware Declares Dividend and 3 Stocks Riding 52-Week Highs
Somerset Hills Bancorp (NASDAQ:SOMH): Closing price $11.60
Somerset Hills Bancorp will be merged with and into Lakeland Bancorp (NASDAQ:LBAI), with Lakeland Bancorp as the surviving bank holding firm. Shareholders of Somerset Hills Bancorp will receive, if they wish, for each outstanding share of common stock that they hold at the effective time of the merger, either 1.1962 shares of Lakeland Bancorp common stock or $12 in cash, so that 90 percent of the aggregate merger consideration will be shares of Lakeland Bancorp common stock and 10 percent will be cash. Shares closed up 27.05 percent on the day at at $11.60, having been traded in a 52-week range of $7.71 to $9.29.
Tupperware Brands Corporation (NYSE:TUP): Closing price $73.75
The board of Tupperware Brands has declared a regular quarterly dividend of 62 cents per share, which is up 72 percent from the previous quarterly dividend of 36 cents per share. It will be payable on April 5th to shareholders of record as of March 20th. In addition, the firm hiked its target payout ratio from around one-third to 50 percent of trailing diluted earnings per share, excluding items, and continues to anticipate that its board will consider raising the quarterly dividend with its declaration in the first quarter of each year. Shares closed up 4.86 percent on the day at $73.75, and have been traded in a 52-week range of $50.90 to $70.52.
Westlake Chemical (NYSE:WLK): Closing price $89.62
Technip has won engineering and procurement contracts from Westlake Chemical for the expansion and modernization of the ethylene cracking furnaces and the recovery section of Westlake’s ethylene facility in Calvert City, Kentucky. The ethylene production capacity will be raised by 40 percent, from 450 million pounds annually to 630 million pounds, and will employ ethane feedstock rather than propane as per the original design. Shares closed up 1.77 percent on the day at at $89.62, having been traded in a 52-week range of $48.13 to $89.32.
The Nasdaq Omx Group (NASDAQ:NDAQ): Closing price $27.90
Earlier on Tuesday, the Group said that it will merge its Global Data Products and Global Index divisions. The new entity will be led by Executive Vice President of NASDAQ OMXJohn Jacobs, and operate under the name Global Information Services. The Group will treat the unified Global Data Products and Global Index businesses as a separate reporting segment effective January 1st; the unit will represent around 20 percent of NASDAQ OMX’s total yearly revenues. Shares closed up 0.43 percent on the day at $27.90, and have traded in a 52-week range of $21.03 to $27.91.
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