Boston, MA 06/03/2014 (wallstreetpr) – Altria Group Inc (NYSE:MO) will pay a quarterly dividend of $0.48 per share on July 10, to shareholders who will have acquired its share by June 16. The newly declared quarterly dividend represents 4.73 percent on annualized basis.
The company has kept a good fight in the cigarette industry, and its earnings are encouraging. The cigarette giant earned $0.57 per share in 1Q2014, meeting the consensus estimate of $0.57. Revenue for the quarter was $5.52 billion, beating the consensus estimate of $4.03 billion. Both earnings and revenue were up on a year-over-year basis.
Although Altria Group Inc (NYSE:MO) has posted positive results in the recent reporting, the company could face a bigger challenge in the U.S. cigarette market with the anticipated merger of Reynolds American, Inc (NYSE:RAI) and Lorillard (NYSE:LO). Lorillard controls a bigger share of the U.S. electronic cigarette market than its peers, and this will give the combined company of Reynolds and Lorillard a head start in the e-cigarette segment.
Health Care REIT, Inc. (NYSE:HCN) has completed its large-scale 16.1 million common stock public offering. The company announced generating $1 billion in gross proceeds following the decision of the underwriters to exercise the option to purchase additional 2.1 million shares. The company intends to use the net proceeds from the offering to repay certain financial obligations while channeling the rest to general corporate purposes.
Health Care REIT NYSE:HCN) had Bank of America Corp (NYSE:BAC), Morgan Stanley (NYSE:MS), JPMorgan Chase & Co (NYSE:JPM), Goldman Sachs (NYSE:GS) among its book-running managers in the latest offering.
Pharmacyclics, Inc. (NASDAQ:PCYC)’s pipeline continues to be an exciting story especially in view of the latest trial data. Pharmacyclics is developing a cancer drug called Imbruvica jointly with Johnson & Johnson (NYSE:JNJ). In the latest data published in New England Journal of Medicine, a study of Imbruvica showed it to be more successful in patients than rival drugs from GlaxoSmithKline plc (ADR) (NYSE:GSK) and Genmab in the treatment of small lymphocytic lymphoma (SLL).