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Stock Market & Financial Investment News

News Breaks
May 22, 2014
08:08 EDTLNCLincoln National board authorizes additional securities repurchase capacity
Lincoln Financial announced that the board declared a quarterly cash dividend of 16c per share on the corporationís common shares. The dividend on the common stock will be payable August 1 to shareholders of record at the close of business on July 10. The board of directors also approved an increase to the corporationís authority to repurchase its securities bringing the total repurchase authority up to $1B. Under this authority and without further announcement, the corporation may repurchase securities in such amounts at such times, as it deems appropriate. Purchases may be made on the various stock exchanges, by block trades, in privately negotiated transactions, or by other means. The repurchase authority does not have a termination date.
News For LNC From The Last 14 Days
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December 19, 2014
15:20 EDTLNCLincoln National files automatic mixed securities shelf
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December 8, 2014
08:56 EDTLNCLincoln National to sell LFM to Entercom Comm for $105M plus working capital
Entercom Communications Corp. (ETM) announced that it has entered into a definitive agreement to acquire Lincoln Financial Media, or LFM, from Lincoln Financial Group (LNC) for $105M plus working capital. The transaction is subject to FCC and other customary regulatory approvals and closing conditions. The company expects that the deal will close in 2Q15. The agreement includes fifteen radio stations in the Atlanta, Denver, Miami and San Diego markets, and it will expand Entercomís station portfolio to more than 130 stations in 26 markets. The $105M purchase price will be paid in the form of $77.5M in cash and $27.5M in new perpetual cumulative convertible preferred stock that will be issued to Lincoln. Entercom expects to finance the cash portion of the purchase price through a combination of its existing $50M revolver, cash on hand, and through other financing sources, if necessary. Entercom anticipates that it will begin operating the LFM stations under a time brokerage agreement which is expected to commence in late January following the usual Justice Department regulatory review. In order to comply with the FCCís station ownership limitations, the Company plans to divest one FM station in the Denver market.

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