Key Developments: Ormat Technologies Inc (ORA.N)

ORA.N on New York Stock Exchange

26.91USD
28 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Ormat Technologies Inc announces Sarulla Consortium reached financial closing under $1.17 bln financing agreements
Friday, 23 May 2014 08:00am EDT 

Ormat Technologies Inc:Says Sarulla consortium fulfilled all conditions precedent and reached financial closing allowing the first drawdown under the $1.17 bln financing agreement for the 330 MW project in Indonesia.  Full Article

Ormat Technologies announces quarterly dividend
Thursday, 8 May 2014 04:49pm EDT 

Ormat Technologies Inc:Declares payment of a quarterly dividend of $0.05 per share.Payable on May 30 to shareholders of record as of closing of business on May 21.  Full Article

Ormat Technologies Inc reaffirms FY 2014 revenue guidance
Thursday, 8 May 2014 04:49pm EDT 

Ormat Technologies Inc:Reaffirms FY 2014 guidance and expect total revenues of $540.0 million to $560.0 million with electricity revenues ranging $370.0 million to $380.0 million and product segment revenues to be between $170.0 million and $180.0 million.FY 2014 revenue of $560 million - Thomson Reuters I/B/E/S.  Full Article

Ormat Technologies Inc appoints CEO
Tuesday, 11 Feb 2014 07:00am EST 

Ormat Technologies Inc:Says its Board of Directors has appointed Isaac Angel as Chief Executive (CEO) of the company.Angel will join Ormat on Apr 1and assume the CEO position effective July 1.Says he will succeed Yehudit (Dita) Bronicki, who announced her retirement in November after 50 years of service in the company.Says Bronicki will continue to serve as a Director of Ormat, in a non-executive capacity.  Full Article

Ormat Technologies Inc Declares Dividend; Announces Board Changes
Tuesday, 5 Nov 2013 05:46pm EST 

Ormat Technologies Inc announced that the Board of Directors approved a payment of a quarterly dividend of $0.04 per share. The dividend will be paid on December 4, 2013 to shareholders of record as of closing of business on November 20, 2013. The Company also announced that Mrs. Yehudit (Dita) Bronicki, the Company's Chief Executive Officer (CEO), has decided to retire from her position of CEO, effective June 30, 2014, the current expiration date under her employment contract, thus starting an orderly leadership transition over the next 8 months. Mrs. Bronicki will continue to serve as a director of the Company following her planned retirement as CEO. The Company further announced that Mr. Gillon Beck has decided to step down from his position of chairman of the board of directors of the Company, also effective June 30, 2014 and that the board of directors has elected and appointed Mr. Yoram Bronicki as the succeeding chairman, with such appointment being effective June 30, 2014. Mr. Beck will continue to serve as a director of the Company after he steps down from his position as chairman. Upon assuming the position of the chairman of the board Mr. Yoram Bronicki will relinquish his position as President and Chief Operating Officer of the Company. The board of directors has established a search committee to assist the Board in conducting the process of choosing Mrs. Bronicki's successor.  Full Article

Ormat Technologies Inc Raises FY 2013 Revenue Guidance
Tuesday, 5 Nov 2013 05:36pm EST 

Ormat Technologies Inc announced that for fiscal 2013, it is raising guidance and expect total revenue to be between $525.0 million to $535.0 million with electricity segment revenues to be approximately $330.0 million and product segment revenues to be between $195.0 million and $205.0 million. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $523 million for fiscal 2013.  Full Article

Ormat Technologies Inc's Subsidiary Enters Joint Development Agreement With eBay Inc. For Development Of Five-Megawatt Recovered Energy Generation Power Plant
Thursday, 26 Sep 2013 08:15am EDT 

Ormat Technologies Inc announced that its wholly owned subsidiary entered a Joint Development Agreement with eBay Inc. for the development of a five-megawatt Recovered Energy Generation (REG) power plant to be constructed in Utah. The Joint Development Agreement allows Ormat and eBay Inc. to advance negotiations on a 20-year term contract and begin preliminary development work to supply cleaner electricity to eBay Inc.'s new Salt Lake City-based data center.  Full Article

Ormat Technologies Inc Lowers FY 2013 Revenue Guidance-Conference Call
Wednesday, 7 Aug 2013 10:00am EDT 

Ormat Technologies Inc announced that for fiscal 2013, it expects total revenue to be between $510 million and $530 million. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $529 million for fiscal 2013.  Full Article

Ormat Technologies Inc Announces Quarterly Dividend
Wednesday, 7 Aug 2013 12:34am EDT 

Ormat Technologies Inc announced that Board of Directors of the Company has approved a payment of a quarterly dividend of $0.04 per share pursuant to the Company's dividend policy, which targets an annual payoff ratio of at least 20% of the company's net income. The dividend will be paid on August 29, 2013 to shareholders of record as of closing of business on August 19, 2013. The company expects to pay a dividend of $0.04 per share in the next quarter.  Full Article

Ormat Technologies Inc's Subsidiary Sells Stake In Momotombo Power Company
Monday, 3 Jun 2013 08:00am EDT 

Ormat Technologies Inc announced that the Company's wholly owned subsidiary, has sold stake in the Momotombo Power Company (MPC), the operator of the Momotombo geothermal power plant in Nicaragua, to a private company for $7.5 million, approximately one year before the scheduled termination of the concession arrangement with the Nicaraguan owner.  Full Article

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