Key Developments For People's United Financial, Inc.
People's United Financial, Inc. (PBCT.O) (Nasdaq)
People's United Financial, Inc. To Acquire Financial Federal Corporation
People's United Financial, Inc. announced a definitive agreement to acquire Financial Federal Corporation, in a stock and cash transaction valued at approximately $738 million. The transaction is expected to close in the first quarter of 2010. Under the terms of the definitive agreement, which has been approved by both companies' boards of directors, at closing Financial Federal Corporation shareholders will receive $11.27 in cash and one share of People's United common stock. Based on the closing price of People's United on November 20, 2009, the transaction is valued at $27.74 per Financial Federal Corporation share. The actual value per Financial Federal share on consummation of the acquisition will depend on the share price of People's United at that time. The receipt of People's United stock by shareholders of Financial Federal is expected to be tax-free. Morgan Stanley acted as exclusive financial advisor to People's United and Simpson Thacher & Bartlett LLP acted as legal counsel. Keefe Bruyette & Woods acted as exclusive financial advisor to Financial Federal Corporation and Covington & Burling LLP served as legal counsel.
People's United Financial, Inc. Declares Dividend
People's United Financial, Inc. declared a $0.1525 per share quarterly dividend, payable November 15, 2009 to shareholders of record on November 1, 2009. Based on the closing stock price on October 14, 2009, the dividend yield on People's United Financial common stock is 3.9 percent.
People's United Financial, Inc. Declares Dividend
People's United Financial, Inc. announced that its Board of Directors has declared a $0.1525 per share quarterly dividend, payable on August 15, 2009 to shareholders of record on August 1, 2009.
People's United Financial, Inc. Increases Dividend
People's United Financial, Inc. announced that the Company's Board of Directors voted to increase the annual common stock dividend by $0.01 per share, resulting in a quarterly dividend rate of $0.1525 per share. The dividend is payable May 15, 2009 to shareholders of record on May 1, 2009.
People's United Financial, Inc. Declares Quarterly Dividend
People's United Financial, Inc. announced that its Board of Directors of declared a $0.15 per share quarterly dividend, payable February 15, 2009, to shareholders of record on February 1, 2009.
