Key Developments: Wausau Paper Corp (WPP)
10.29USD
17 May 2013
$0.06 (+0.59%)
$10.23
$10.30
$10.35
$10.20
143,904
202,858
$11.09
$7.46
Latest Key Developments (Source: Significant Developments)
Wausau Paper Corp Declares Dividend
Wausau Paper Corp announced that its Board of Directors has declared a quarterly dividend of $0.03 per share on its common stock. The dividend is payable May 15, 2013, to shareholders of record at the close of business on May 1, 2013. Full Article
Wausau Paper Corp Announces Letter of Intent to Divest Specialty Paper Business
Wausau Paper Corp announced that it has signed a non-binding Letter of Intent to sell its specialty paper business to a new company (NewCo) to be formed and controlled by investment funds sponsored by KPS Capital Partners L.P. (KPS), a New York based private equity firm with experience in the paper industry and in completion of complex corporate carve-outs. KPS has also signed a non-binding Letter of Intent to acquire another company and combine it with the specialty paper business within NewCo. Wausau has the option to have an initial ownership position in NewCo of up to 25% with the opportunity to earn up to an additional 5% interest upon NewCo reaching certain performance thresholds. NewCo will acquire the assets of Wausau`s Rhinelander and Mosinee mills; the assets of Wausau`s Brainerd mill are not included in the transaction; The transaction requires that the United Steelworkers ratify new collective bargaining agreements with NewCo; Wausau will retain legacy defined benefit pension and post-retirement liabilities related to the businesses being sold to NewCo; and The initial cash purchase price will be approximately $130 million, subject to KPS` confirmatory due diligence and adjustments for the ultimate treatment of certain transaction related liabilities and customary post closing adjustments. Full Article
Wausau Paper Corp Declares Dividend
Wausau Paper Corp announced that Board of Directors has declared a quarterly dividend of $0.03 per share on its common stock. The dividend is payable February 15, 2013, to shareholders of record at the close of business on February 1, 2013. Full Article
Wausau Paper Corp Reaffirms FY 2012 EPS Guidance
Wausau Paper Corp announced that for fiscal 2012, it expects adjusted net earnings from continuing operations of $0.28-$0.30 per diluted share (EPS). According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $0.29 for fiscal 2012. Full Article
Wausau Paper Corp Declares Dividend
Wausau Paper Corp announced that its Board of Directors has declared a quarterly dividend of $0.03 per share on its common stock. The dividend is payable November 15, 2012, to shareholders of record at the close of business on November 1, 2012. Full Article
Wausau Paper Corp Lowers FY 2012 EPS Guidance; Comments On Q3,Q4 2012 EPS Guidance
Wausau Paper Corp announced that for fiscal 2012, it is reducing its adjusted earnings guidance to $0.28 to $0.30 per share (EPS), and anticipate mid-single digit adjusted earnings per share in both the third and fourth quarters of 2012. The Company's previous guidance was for fiscal 2012 adjusted net earnings in the $0.39 to $0.41 per share range. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $0.39 for fiscal 2012; EPS of $0.13 for the third quarter of 2012 and EPS of $0.07 for the fourth quarter of 2012. Full Article
Wausau Paper Corp. Raises FY 2012 EPS Guidance
Wausau Paper Corp. announced that for fiscal 2012, it expects adjusted net earnings to be in the $0.39 - $0.41 per share (EPS) range versus prior-year adjusted net earnings of $0.33 per share. Full Article
Wausau Paper Corp. Declares Dividend
Wausau Paper Corp. announced that its Board of Directors has declared a quarterly dividend of $0.03 per share on its common stock. The dividend is payable August 15, 2012, to shareholders of record at the close of business on August 1, 2012. Full Article
Wausau Paper Corp. Issues Q2 2012 EPS Guidance Above Analysts' Estimates; Updates FY 2012 Revenue Guidance To A Range In Line With Analysts' Estimates-Conference Call
Wausau Paper Corp. announced that for the second quarter of 2012, it expects EPS to be in the $0.09 to $0.11 range. For fiscal 2012, it expects revenue to be in $900 million range. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $0.08 for second quarter of 2012 and revenue of $914 million for fiscal 2012. Full Article
Wausau Paper Corp. Announces Appointment Of Sherri Lemmer As Chief Financial Officer
Wausau Paper Corp. announced that the Board of Directors has appointed Sherri L. Lemmer (45) as Senior Vice President and Chief Financial Officer for the Company effective May 1, 2012. Sherri currently serves as Vice President, Finance and Information Technology. Full Article
Wausau Paper to divest specialty paper business
March 21 - Wausau Paper Corp said it intends to sell its specialty paper business to funds controlled by private equity firm KPS Capital Partners LP for about $130 million in cash, following pressure from activist investor Starboard Value LP.
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