Dividends

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Dividends

The Board of Directors of Mauch Chunk Trust Financial Corp. of Jim Thorpe declared a dividend of 28 cents per share, a regular dividend of 18 cents per share and a special dividend of 10 cents per share, payable Dec. 31 to shareholders of record Dec. 7. This action brings the annual dividend rate to 46 cents per share and represents an increase of 15 percent over the 2011 dividend rate.

Univest Corp. of Souderton, parent company of Univest Bank and Trust Co. and its insurance, investments and equipment financing subsidiaries, has declared a 20 cent per share quarterly cash dividend. As a result of the uncertainty surrounding the tax treatment of dividends beyond 2012, the board of directors voted today to accelerate the payout date to Dec. 28 from the normal payout date of Jan. 2, to shareholders of record as of Dec. 12.

Honors

Client 1st Financial LLC of Fogelsville, led by president and CEO Michael Fischer, was named a finalist in John Hancock Financial Network's “Practice of the Year” competition for the second time in a row.

The award is sponsored by National Financial, the correspondent clearing business unit of Fidelity Investments, which reviewed client management, internal planning and structure, external relations, staffing and technology capabilities, and overall practice performance.

The Gaige Technology and Business Innovation Building on the Penn State Berks campus recently won two new awards for its unique design and construction. The Construction Owners Association of America (COAA) granted a Silver Award from its Project Leadership Award Program at its national conference in Orlando, Fla. Within weeks, the Construction Management Association of America (CMAA) granted a Project Achievement Award at its 2012 national conference in Chicago. Both the COAA and the CMAA recognized the steady leadership and detailed scheduling that led to this building's completion three months ahead of schedule and under budget.

Real Estate

John L. Crampsie, principal with NAI Summit of Allentown, represented a major bank in the sale of a distressed property in Buffalo, N.Y.

The property is a 209,000-square-foot retail center and had an asking price of $12 million. The property was sold to Benderson Development Co. for $10.5 million. Known as Cheektowaga Plaza, the site was a former Sorrento Cheese warehouse before being converted into a retail complex.

Compiled by Stacy Wescoe

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