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Juniper offers cost cuts, dividend after Elliott pressure
2014-02-21 08:37:00| Telecompaper Headlines
(Telecompaper) Juniper Networks announced plans for significant cost reductions and a major return of capital to shareholders. The company targets a reduction of USD 160 million in operating costs by Q1 2015 compared to Q4 2013, helping it achieve a 25 percent operating margin in 2015. This is an improvement of 580 basis points from 2013. CEO Shaygan Kheradpir will lead a Cost Control Committee, and Juniper hired McKinsey to help with the restructuring. Juniper also committed to return a minimum USD 3 billion to shareholders over the next three years through a combination of share repurchases and dividends. This will include up to USD 2 billion in shares repurchased by Q1 2015, of which USD 1.2 billion under an accelerated buyback starting soon. Juniper will also initiate a quarterly cash dividend of USD 0.10 per share beginning in the third quarter of 2014, with the expectation to increase the dividend over time. The shareholder remuneration will be funded by a combination of existing cash and newly issued debt. Finally, the company announced the appointment of Kevin DeNuccio, a former Cisco executive, and Gary Daichendt, the former CEO of Redback Networks, as new independent directors, while Juniper's own former CEO Kevin Johnson will retire from the board at the end of February. The new strategy follows a review by the company's new CEO as well as pressure from shareholders. Jesse Cohn, portfolio manager at shareholder Elliott Management, welcomed the changes, saying it was "an incredibly positive development".
Tags: offers
cost
pressure
cuts
Mumias sugar cuts loss to Sh73 million
2014-02-21 07:25:31| Sugar Industry News
Mumias Sugar Company has recorded a Sh73.4 million loss in the six months to December 2013. The miller, however, reduced the loss recorded over the same period in 2012, 14 times.
TransAlta cuts quarterly dividend to 18 cents per share, reports Q4 loss
2014-02-20 16:09:31| Energy - Topix.net
TransAlta Corp. cut its quarterly dividend Thursday as it reported a loss in the fourth quarter and the sale of its 50 per cent stake in CE Generation, Blackrock development and Wailuku to its partner MidAmerican Renewables for US$193.5 million.
Tags: share
reports
loss
quarterly
Solid-Carbide Drill cuts through CFRP-titanium stacks.
2014-02-20 14:31:06| Industrial Newsroom - All News for Today
Operating with through-coolant or without, B55_DAL drills CFRP-metal stacks in hole diameters of 3/16–5/8 in. Double-angle point design provides optimized centering, while sharp edge cleanly cuts composite fiber-reinforced polymers in top layer and exits titanium or aluminum side without burrs. For optimized chip evacuation, fine-grain solid-carbide Beyond™ KN15™ grade is highly polished. Drill can be applied in all combinations of stacks: CFRP-Ti-Al, CFRP-Ti, CFRP-Al, and straight Ti or Al. This story is related to the following:Machinery and Machining Tools Sponsored by: Haas Automation, Inc. - Category SponsorMetalworking Tools | Solid Carbide Drills | Drills |
MEXICO: Walmex Q4 profit slumps on price cuts
2014-02-19 14:13:00| Daily apparel & textile news and comment - from just-style.com
Retailer Wal-Mart de Mexico, known locally as Walmex, saw its fourth quarter net profit drop thanks to price cuts and falling consumer confidence.
Tags: price
mexico
profit
cuts
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