latest news releases from the newsroom
AMCORE Financial, Inc.
AMCORE Financial Suspends Quarterly Dividend
ROCKFORD, Ill., Nov. 21, 2008 (GLOBE NEWSWIRE) -- AMCORE Financial Inc. (Nasdaq:AMFI) announced today that the Board had decided to temporarily suspend its quarterly dividend, effective immediately. The Company reevaluates its dividend payment policy each quarter.
Auburn National Bancorporation, Inc.
Auburn National Bancorporation, Inc. Elects Not to Participate in TARP
AUBURN, Ala., Nov. 21, 2008 (GLOBE NEWSWIRE) -- Auburn National Bancorporation, Inc. (Nasdaq:AUBN) announced today that it did not apply for funds available through the U.S. Department of the Treasury's Capital Purchase Program, part of the federal government's Troubled Assets Relief Program (TARP).
Financial Institutions, Inc.
Financial Institutions Declares Cash Dividend
WARSAW, N.Y., Nov. 21, 2008 (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (Nasdaq:FISI) (the "Company") announced that its Board of Directors declared a cash dividend of $0.10 per common share. The dividend was reduced from $0.15 per common share in the previous quarter in order to preserve and strengthen the Company's capital base. The fourth quarter dividend represents an annualized dividend yield of 3.3% based on the Company's common stock closing price on November 20, 2008. The Company also announced dividends of $0.75 per share on Series A 3% Preferred Stock and $2.12 per share on Series B-1 8.48% Preferred Stock. All dividends are payable on January 2, 2009 to shareholders of record on December 15, 2008.
Silverstar Holdings, Ltd.
Silverstar Holdings Receives Staff Deficiency Letter Regarding Non-Compliance With NASDAQ's Stockholders' Equity, Market Value or Net Income Requirements
BOCA RATON, Fla., Nov. 21, 2008 (GLOBE NEWSWIRE) -- Silverstar Holdings, Ltd. (Nasdaq:SSTR) today announced that it received a Nasdaq Staff Deficiency Letter on November 17, 2008 indicating that based on the Company's Form 10-Q for the period ended September 30, 2008, the Nasdaq Staff determined that the Company's stockholders' equity was $1,781,039. In addition, as of November 14, 2008, the Nasdaq Staff determined that the market value of listed securities was $4,118,022. Finally, the Company reported net loss from continuing operations of ($24,485,917), ($2,406,621), and ($1,979,190), in its annual filings for the years ended June 30, 2008, 2007 and 2006, respectively. Accordingly, the Company does not comply with Marketplace Rule 4310(c)(3), which requires the Company to have a minimum of $2,500,000 in stockholders' equity or $35,000,000 market value of listed securities or $500,000 of net income from continuing operations for the most recently completed fiscal year or two of the three most recently completed fiscal years.
First Horizon National Corporation
First Horizon Board Elects New Director, Announces Departures of Two Members
MEMPHIS, Tenn., Nov. 21, 2008 (GLOBE NEWSWIRE) -- First Horizon National Corp. (NYSE:FHN) announced today that Mark A. Emkes has been elected to its board of directors. Robert C. Blattberg retired from the board and Mary Sammons resigned to accept a board opportunity with another financial services company.
3D Systems Corporation
3D Systems Implements Additional Cost Reductions
ROCK HILL, S.C., Nov. 21, 2008 (GLOBE NEWSWIRE) -- 3D Systems Corporation (Nasdaq:TDSC), a leading provider of 3-D Printing, Rapid Prototyping and Manufacturing solutions, announced today that, in anticipation of the difficult economic climate that lies ahead and its uncertain duration, the company has undertaken a series of additional cost reduction programs, including the curtailment of various, non-critical planned expenses for the balance of 2008 and beyond. As part of these additional cost reductions, the company announced today that it has begun a reduction in its workforce that will affect about 25 people out of its worldwide workforce of 360, including 5 employees from its Rock Hill, South Carolina headquarters.
AutoZone to Hold Stockholders' Meeting December 17, 2008
MEMPHIS, Tenn., Nov. 21, 2008 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE:AZO), today announced it will hold its Annual Meeting of Stockholders on December 17, 2008, at the J.R. Hyde III Store Support Center in Memphis, Tennessee. The meeting will begin at 9:30 a.m. (EST). Additionally, this event will be webcast and can be accessed, along with supporting slides, at AutoZone's website at www.autozoneinc.com.