Key Developments: Legg Mason Inc (LM)
34.92USD
23 May 2013
$-0.37 (-1.05%)
$35.29
$34.70
$35.21
$34.42
1,416,330
1,541,232
$37.04
$23.31
Latest Key Developments (Source: Significant Developments)
Legg Mason Inc Announces Increased Quarterly Dividend
Legg Mason Inc announced that its Board of Directors has declared a quarterly cash dividend on its common stock in the amount of $0.13 per share. This represents an 18% increase in its quarterly dividend. The dividend is payable on July 8, 2013 to shareholders of record on June 11, 2013. Full Article
Legg Mason Inc And Permal Announce Completion Of Acquisition Of Fauchier Partners
Legg Mason Inc and affiliate Permal announced that they have completed the acquisition of Fauchier Partners, a European based manager of funds of hedge funds, from BNP Paribas Investment Partners. Full Article
Legg Mason Inc Announces Appointment Of President And Chief Executive Officer
Legg Mason Inc announced that the Board of Directors has appointed Joseph A. Sullivan President and Chief Executive Officer and a member of the Board of Directors, effective immediately. Full Article
Legg Mason Inc To Name Interim CEO Sullivan As Permanent-Reuters
Reuters reported that Legg Mason Inc is preparing to name its interim head, Joseph Sullivan, as its permanent Chief Executive. Full Article
Legg Mason Inc Declares Quarterly Cash Dividend
Legg Mason Inc announced that the board of directors have declared a quarterly cash dividend on its common stock in the amount of $0.11 per share. The dividend is payable April 15, 2013 to shareholders of record at the close of business on March 14, 2013. Full Article
Legg Mason Inc And Permal Announces Acquisition Of Fauchier Partners
Legg Mason Inc and affiliate Permal announced that it has signed a definitive agreement to acquire Fauchier Partners, a European based manager of funds of hedge funds, from BNP Paribas Investment Partners. Fauchier Partners will be combined with Permal, one of the alternative asset managers in the world, to create an institutionally focused platform (the Group) with approximately $24 billion in assets under management, offices in nine locations around the world, and a global investment team based in New York, London, Paris and Singapore. The transaction is expected to close in the first quarter of 2013. Terms of the transaction were not disclosed. Full Article
Legg Mason Inc Announces Acceleration Of Payment Of Quarterly Dividend
Legg Mason Inc announced that Board of Directors approved an amendment to the payment date for the Company's quarterly cash dividend on its common stock in the amount of $0.11 per share. The dividend was previously declared by the Company on October 26, 2012. The dividend will now be payable on December 28, 2012, rather than the previously announced payment date of January 7, 2013. No changes have been made to the record date, December 12, 2012, or amount of this previously declared quarterly cash dividend. This action reflects Legg Mason's ongoing commitment to return capital to shareholders through dividends and share repurchases. Full Article
Legg Mason Inc Declares Quarterly Cash Dividend
Legg Mason Inc announced that its Board of Directors has declared a quarterly cash dividend on its common stock in the amount of $0.11 per share. The dividend is payable on January 7, 2013 to shareholders of record at the close of business on December 12, 2012. Full Article
Legg Mason Inc Implements Chief Executive Officer Succession Plan
Legg Mason Inc announced that Mark R. Fetting, Chairman and Chief Executive Officer, has decided to step down effective October 1, and will remain as a consultant to the Company through year end. Lead Independent Director W. Allen Reed will become Non-Executive Chairman and Joseph A. (Joe) Sullivan, Head of Global Distribution, will become Interim Chief Executive Officer while the Board conducts a search for a permanent CEO. The Board has formed a search committee to consider both internal and external candidates and will be engaging an executive search firm to assist with the process. Full Article
Legg Mason, Inc. Prices $650 Million Senior Notes
Legg Mason, Inc. announced the pricing of its sale of $650 million of 5.5% senior notes due 2019. The offering is expected to settle on May 21, 2012. The senior notes will bear interest at a rate of 5.5% per year. Interest for the senior notes will be payable semi-annually on May 21 and November 21, commencing on November 21, 2012. Legg Mason, Inc. plans to use the net proceeds from the senior notes offering, together with cash on hand and other borrowings, to repurchase $1.25 billion in aggregate principal amount of the Company's 2.5% contingent convertible senior notes due 2015. Full Article
Legg Mason profit falls on real estate losses
- Asset manager Legg Mason Inc on Tuesday said its profit fell sharply in the three months ended March 31, driven down by real estate losses.
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
