News Breaks
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| 15:03 EDT |  | MMCE |
| theflyonthewall.com: | MMC Energy sees distributions $1.45-$1.60, expects shares to stop trading | | MMC Energy announced that it has completed the sale of its two GE LM6000 PC Sprint turbines for $26.65M to a subsidiary of Pro Energy. As previously announced, with the turbine sale completed, MMC Energy will now make the first of at least two liquidating dividend payments to shareholders. The Board of Directors today approved the amount of the first distribution to be $1.35 per share. The company has also revised its range of expected aggregate distributions to be $1.45-$1.60 per share. As previously announced, coincident with closing the turbine sale, the company anticipates trading in the common stock will be permanently suspended by the NASDAQ Global Market, effective at the close of trading today. :theflyonthewall.com |
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