Key Developments: Vector Group Ltd (VGR)

VGR on New York Consolidated

20.53USD
31 Jul 2014
Price Change (% chg)

$0.18 (+0.88%)
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Latest Key Developments (Source: Significant Developments)

Vector Group Ltd declares quarterly cash dividend
Wednesday, 28 May 2014 04:30pm EDT 

Vector Group Ltd:Declares regular quarterly cash dividend on its common stock of $0.40 per share.Quarterly cash dividend will be payable on June 27 to holders of record as of June 13.  Full Article

Vector completes sale of additional senior secured notes
Tuesday, 15 Apr 2014 09:45am EDT 

Vector Group Ltd:Closes private offering of an additional $150.0 million aggregate principal amount of 7.750 pct senior secured notes due 2021.Notes have the same terms except issue date and purchase price and are treated as the same series as the $450 million aggregate principal amount of 7.750 pct senior secured notes due 2021.Intends to use the net cash proceeds from this offering for general corporate purposes.  Full Article

Vector Group Ltd offers $150 million of senior secured notes
Tuesday, 8 Apr 2014 08:16am EDT 

Vector Group Ltd:Is offering $150 million aggregate principal amount of 7.750 pct senior secured notes due 2021 in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended.The Notes will be fully and unconditionally guaranteed by all of the wholly owned domestic subsidiaries of the company.The company intends to use the net cash proceeds from the Notes offering for general corporate purposes, including for additional investments in real estate through our wholly owned subsidiary, New Valley LLC, and in existing tobacco business.  Full Article

Vector Group Ltd closes offering of $258.75 mln of variable interest convertible senior notes
Monday, 24 Mar 2014 09:06am EDT 

Vector Group Ltd:Closes its previously announced registered public offering of $258.75 mln aggregate principal amount of its variable interest convertible senior notes due 2020.Intends to use the net proceeds for general corporate purposes, including for additional investments in real estate through its subsidiary, New Valley LLC, and in its existing tobacco business.Says it may also consider using a portion of the proceeds of the Notes Offering to address upcoming debt maturities.Jefferies LLC acted as the underwriter for the notes offering.  Full Article

Vector Group Ltd announces proposed offering of variable interest convertible senior notes
Tuesday, 18 Mar 2014 04:21pm EDT 

Vector Group Ltd:Intends to offer and sell $150.0 mln aggregate principal amount of Variable Interest Convertible Senior Notes due 2020.Intends to use the net proceeds for general corporate purposes, including for additional investments in real estate.Jefferies LLC will act as underwriter for the Notes Offering.  Full Article

Vector Group Ltd declares quarterly cash dividend
Monday, 10 Mar 2014 05:15pm EDT 

Vector Group Ltd:Declared a regular quarterly cash dividend on its common stock of $0.40 per share.Payable on March 28 to holders of record as of March 20.  Full Article

Vector Group Ltd declares quarterly cash dividend
Monday, 2 Dec 2013 05:03pm EST 

Vector Group Ltd:Says it has declared a regular quarterly cash dividend on its common stock of $0.40 per share.Says the dividend is payable on December 27, 2013 to holders of record as of December 13, 2013.  Full Article

Vector Group Ltd And Liggett Group Reach Comprehensive Settlement On Engle Tobacco Litigation In Florida; Comments On Q3 2013 Charge Guidance
Wednesday, 23 Oct 2013 08:30am EDT 

Vector Group Ltd announced that the Company and its Liggett Group tobacco subsidiary have reached a comprehensive settlement resolving substantially all of the individual Engle progeny tobacco litigation cases pending in Florida. Under the settlement, which does not require court approval, more than 4,900 of the approximately 5,300 individual Engle plaintiffs will be dismissing their claims against Vector Group and Liggett. The Company expects to incur an after-tax charge of $53 million in the third quarter of 2013 related to the settlement agreement. Pursuant to the terms of the agreement, Liggett will pay a total of $110 million (or a present value, net of income taxes, of $53 million), with approximately $61 million ($38 million, net of income taxes) to be paid in a lump sum, and the balance of approximately $49 million (or a present value, net of income taxes, of $15 million) to be paid over 15 years. The settlement is expected to be finalized within 90 days and is contingent upon delivery of the required settlement documents by plaintiffs' attorneys. As background, the Engle litigation was originally filed against Liggett Group and other cigarette manufacturers as a class action in Miami-Dade County, Florida in May 1994. The class consisted of all Florida residents who, by November 21, 1996, have suffered, presently suffer or have died from diseases and medical conditions caused by their addiction to cigarette smoking.  Full Article

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

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