Key Developments: Olin Corp (OLN.N)
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Latest Key Developments (Source: Significant Developments)
Olin Corp Issues Q2 2013 EPS Guidance Below Analysts' Estimates; Declares Dividend
Olin Corp announced that for second quarter of 2013, it expects net income to be in the $0.45 to $0.50 per diluted share range. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $0.60 for the second quarter of 2013. Olin's Board of Directors announced that it also declared a dividend of $0.20 on each share of Olin common stock. The dividend is payable on June 10, 2013 to shareholders of record at the close of business on May 10, 2013. Full Article
Olin Corp Issues Q1 2013 EPS Guidance Below Analysts' Estimates; Comments On Q1 2013 Charge Guidance
Olin Corp announced that for first quarter of 2013, it expects net income to be in the $0.40 to $0.45 per diluted share range (EPS). First quarter 2013 results are expected to include approximately $3.5 million of restructuring charges. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $0.56 for the first quarter of 2013. Full Article
Olin Corp Declares Quarterly Dividend
Olin Corp announced that the Board of Directors declared a quarterly dividend of 20 cents on each share of Olin common stock. The dividend is payable on March 11, 2013 to shareholders of record at the close of business on February 11, 2013. Full Article
Olin Corp Announces Quarterly Dividend
Olin Corp announced that the Board of Directors declared a dividend of $0.20 on each share of Olin common stock. The dividend is payable on December 10, 2012 to shareholders of record at the close of business on November 9, 2012. Full Article
Olin Corp Issues Q4 2012 EPS Guidance In Line With Analysts' Estimates
Olin Corp announced that for the fourth quarter of 2012, it expects net income in the range of $0.30-$0.35 per diluted share range (EPS). The fourth quarter of 2012 forecast includes approximately $3 million of pretax restructuring charges. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $0.35 for the fourth quarter of 2012. Full Article
Olin Corp Completes Acquisition of K. A. Steel Chemicals Inc.
Olin Corp announced acquisition of privately held K. A. Steel Chemicals Inc. (KA Steel), on a cash free, debt free basis, for $328 million in cash, subject to certain post-closing adjustments. Olin will utilize the proceeds from the recently completed $200 million senior notes offering and cash on hand to finance the acquisition. KA Steel, headquartered in Lemont, Illinois, is one of the largest distributors of caustic soda in North America and one of the leading bleach manufacturers in the Midwest. Full Article
Olin Corp Announces Pricing Terms Of Debt Offering
Olin Corp announced the pricing of its offering of $200 million aggregate principal amount of Senior Notes due 2022 (the Senior Notes). The Senior Notes will mature on August 15, 2022, will have an interest rate of 5.50% and will be issued at 100% of par value. Interest will be paid semi-annually on the 15th day of February and August, beginning February 15, 2013. The Senior Notes will be sold pursuant to Olin's shelf registration statement on file with the Securities and Exchange Commission. The underwriters for the transaction are BofA Merrill Lynch, Citigroup Global Markets Inc. and Wells Fargo Securities, LLC. Proceeds from the Senior Notes are expected to be used to pay a portion of the purchase price for the acquisition of K. A. Steel Chemicals Inc. If the K. A. Steel Chemicals Inc. acquisition has not been consummated on or before the closing of the Senior Notes offering, the proceeds of the offering will be placed in an account pending the completion of the K. A. Steel Chemicals Inc. acquisition. Full Article
Olin Corporation Issues Q3 2012 EPS Guidance Below Analysts' Estimates
Olin Corporation announced that third quarter 2012 net income is forecast to be in the $0.40 to $0.45 per diluted share range (EPS). Third quarter 2012 earnings are also expected to include approximately $2 million of pretax restructuring charges primarily associated with the ongoing Winchester centerfire relocation project. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $0.57 for the third quarter of 2012. Full Article
Olin Corporation Announces Acquisition Of K. A. Steel Chemicals Inc.
Olin Corporation announced that it has signed a definitive agreement to acquire privately held K. A. Steel Chemicals Inc. (KA Steel), on a cash free, debt free basis, for $328 million in cash. Olin expects to finance the acquisition using a combination of cash on hand and existing borrowing facilities. After the closing, it is the Company's intention to finance a portion of the purchase price by issuing new senior notes. Full Article
Olin Corporation Declares Quarterly Dividend
Olin Corporation announced that its Board of Directors declared a quarterly dividend of $0.20 on each share of Olin common stock. The dividend is payable on September 10, 2012 to shareholders of record at the close of business on August 10, 2012. Full Article
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