Key Developments: Vector Group Ltd (VGR.N)

VGR.N on New York Stock Exchange

21.01USD
25 Nov 2014
Price Change (% chg)

$-0.47 (-2.19%)
Prev Close
$21.48
Open
$21.54
Day's High
$21.54
Day's Low
$20.85
Volume
309,639
Avg. Vol
221,496
52-wk High
$22.86
52-wk Low
$15.35

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Latest Key Developments (Source: Significant Developments)

Vector Group Ltd Declares Quarterly Cash Dividend
Wednesday, 4 Sep 2013 08:00am EDT 

Vector Group Ltd announced that it has declared a regular quarterly cash dividend on its common stock of $0.40 per share. Additionally, the Company declared its regular annual stock dividend of 5%. Both the quarterly cash and the annual stock dividends are payable on September 27, 2013 to holders of record as of September 16, 2013.  Full Article

Vector Group Ltd Declares Quarterly Cash Dividend
Friday, 31 May 2013 12:08pm EDT 

Vector Group Ltd announced that it has declared a regular quarterly cash dividend on its common stock of $0.40 per share. The dividend is payable on June 27, 2013 to holders of record as of June 14, 2013.  Full Article

Vector Group Ltd Commences Exchange Offer For 7.750% Senior Secured Notes
Friday, 26 Apr 2013 09:16am EDT 

Vector Group Ltd announced that it has commenced an offer to exchange up to $450 million in aggregate principal amount of its 7.750% Senior Secured Notes due 2021 (the Original Notes), which were privately placed in February 2013 pursuant to exemptions from registration under the Securities Act of 1933, as amended (the Securities Act), for an equal amount of newly issued 7.750% Senior Secured Notes due 2021 that have been registered under the Securities Act (the Exchange Notes). The Exchange Notes will have substantially the same terms as the Original Notes, except for the elimination of certain transfer restrictions. The Exchange Notes will be issued only upon cancellation of a like amount of currently outstanding Original Notes. Vector will not receive any proceeds from the exchange offer. Pursuant to the terms of the exchange offer, Vector will accept for exchange any and all Original Notes validly tendered and not withdrawn on May 28, 2013 (the Expiration Date), unless extended. Tenders of Original Notes may be withdrawn at any time on the Expiration Date.  Full Article

Vector Group Ltd Declares Quarterly Cash Dividend
Thursday, 28 Feb 2013 04:30pm EST 

Vector Group Ltd announced that it has declared a regular quarterly cash dividend on its common stock of $0.40 per share. The dividend is payable on March 28, 2013 to holders of record as of March 15, 2013.  Full Article

Vector Group Ltd Announces Pricing Of $450 Million Of 7.750% Senior Secured Notes Due 2021
Monday, 4 Feb 2013 06:16pm EST 

Vector Group Ltd announced that it has priced $450.0 million aggregate principal amount of 7.750% senior secured notes due 2021 (the Notes). The Notes will bear interest at a rate of 7.750% per year, payable semi-annually in arrears on February 15 and August 15 of each year, commencing on August 15, 2013. The Notes will mature on February 15, 2021, unless earlier repurchased or redeemed in accordance with their terms. The Notes will be fully and unconditionally guaranteed by all of the wholly owned domestic subsidiaries of the Company that are engaged in the conduct of the Company`s cigarette business. The guarantees provided by some of the subsidiary guarantors will be secured by first priority or second priority security interests in certain assets of such guarantors. The offering is expected to close on February 12, 2013. The Company intends to use the net cash proceeds from this offering to pay the consideration for a cash tender offer for the Company`s 11% senior secured notes due 2015 (the Existing 11% Notes), the redemption price for any Existing 11% Notes that are not tendered in the cash tender offer, plus accrued and unpaid interest, and any fees and expenses in connection with the cash tender offer and any redemption of the Existing 11% Notes. After such payments, the Company intends to use any remaining net cash proceeds for general corporate purposes.  Full Article

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