Chief Accounting Officer Appointed
Boston, MA 03/31/2014 (wallstreetpr) – EXCO Resources Inc (NYSE:XCO) reported appointed its Chief Accounting Officer who turned out to be none other than Richard A. Burnett, who had previously served as the Special Projects Vice President since 2013. Sources say that the Board of Directors were involved in the decision making. For the time being, when Burnett had not been appointed, Mr. Mulhern was serving as the Chief Accounting Officer, sources say.
Jeff Benjamin, the Chairman of EXCO was surely elated with this turn of events. He appeared to be pleased by the decision of the Board of appointing Burnett because according to him Mr. Burnett’s industry and public accounting expertise could prove very beneficial for the company.
Declaration of Quarterly Cash Dividend
The Board of Directors of EXCO Resources Inc (NYSE:XCO) reported announced the distribution of a first quarter cash dividend worth $0.05 on each share. This dividend is due to be payable on March 31, 2014. Sources say that any further announcement of distribution of dividends would depend on the decisions and approval by the Board of Directors of EXCO.
Hosting a Conference Call
Sources say that EXCO recently hosted a conference call on February 26, 2014 so as to discuss about the Schedules earnings Release and answers people’s queries regarding the same. The call was also webcasted on the official website of EXCO. Also later all the materials related to the presentation of this release were posted on the website. Also a digital recording of the conference call was made available after two hours of the commencement of the conference call on the website of EXCO.
Closing of Rights Offering
It was only last year in December when EXCO Resources Inc (NYSE:XCO) had made the announcement of the commencement of $273 million Rights Offering and other transactions related to it under the Investment Agreements with certain shareholders. Around 28.2 million shares were issued in the rights offering.