Area business briefs
Delphi Automotive to
pay 17-cent dividend
TROY, Mich. – Delphi Automotive PLC said Tuesday that it will start paying a quarterly cash dividend.
The auto supplier said its board declared a dividend of 17 cents. The dividend will be paid on March 27 to shareholders of record as of March 15.
The dividend marks Delphi’s first since the company emerged from bankruptcy protection in 2009 and then went public in 2011.
Rodney O’Neal, Delphi’s CEO and president, said the move reflects management’s confidence in the company’s business and its commitment to boosting value for shareholders.
Delphi shares rose 37 cents to $38.50 in morning trading Tuesday. The stocks are nearing the upper end of their 52-week range of $24.86 to $40.32.
HERMITAGE, Pa. – FNB Corp. has announced a quarterly cash dividend of 12 cents per share on its common stock. The dividend is payable March 15 to shareholders of record on March 4.
FNB Corp. is a diversified financial services company with total assets of $12 billion. The common stock of FNB Corp. trades on the New York Stock Exchange under the symbol FNB.
First Niles holds steady;
Cortland up in trading
First Niles Financial dropped a dime Tuesday to $7.08 a share. First Place Financial Corp. closed at $0.0040 per share, and Cortland Bancorp held steady at $10.55 a share.
First Niles Financial declares stock dividend
NILES – First Niles Financial Inc., the parent company of Home Federal Savings and Loan Association of Niles, has announced a cash dividend of $.08 per share on common stock and $.09 per share on preferred class A stock for the first quarter of 2013.
The dividend will be payable March 22 to shareholders of record on March 8.
Home Federal primarily serves the Niles area. Home Federal ended the year exceeding all its applicable regulatory capital requirements.
First Niles had $102.2 million in assets and $13.1 million in stockholders equity as of Dec. 31. The stock of First Niles is traded on the Nasdaq Over-the-Counter Bulletin Board under the symbol FNFI.
Area business briefs
Youngstown’s BYCE AUCTION has entered into an agreement with iGavel, a New York City-based online auction site, to be iGavel’s associate in northeast Ohio. iGavel is an online auction site dedicated solely to the sale of fine arts, antiques and collectibles to an international audience. iGavel was started by Lark Mason, who has been featured on PBS’ “Antiques Roadshow.”
Byce Auction is owned and operated by Jeff Byce, GPPA, auctioneer, real estate broker, appraiser. The Byce Auction Gallery and real estate offices are located at 755 Wick Ave., Youngstown.
Area business briefs
Portman, Chamber to host energy job fair
A job fair for people looking for training or work in the oil and gas industry will be held 9 a.m. to 3 p.m. April 29 at the Holiday Inn South, 7410 South Ave., Boardman.
It’s sponsored by Republican U.S. Sen. Rob Portman, the Ohio Oil and Natural Gas Association and the Regional Chamber.
”As production in the Utica shale ramps up, companies will need to fill thousands of skilled positions,” Portman said. ”This career fair will connect Ohioans with potential employers and enable us to take full advantage of this great natural resource.”
Ryan helps found task force on Delphi pensions
U.S. Rep. Timothy J. Ryan, D-Niles, has joined his Republican counterpart Mike Turner, also of Ohio, to found the Auto Industry Pension Task Force for the 113th Congress.
It is an informal group focusing on the termination of Delphi Salaried Retiree pensions.
“The work of the Task Force will be to build a coalition of members that will help us ensure that the Delphi retirees can continue their retirement knowing that they will have the benefits promised to them while they were working,” Ryan said.
“The Delphi Salaried Retirees for too long have been denied the answers and resolution to the issue of their pensions being unjustly slashed. This Task Force will help amplify their voice in the halls of Congress,” Turner said.
Ryan and Turner have worked together on this issue after thousands of Ohio Delphi salaried retirees had their pensions slashed by up to 70 percent in some cases.
Brown: Reduce trade deficit to increase jobs
A report released Thursday by U.S. Sen. Sherrod Brown shows that if the U.S. would reduce its trade deficit with China, it would result in nearly 200,000 jobs being created in Ohio.
Results of the study contained in a news release from the Democrat say other impacts of addressing the deficit would be a reduction in the state’s umemployment rate by 1.3 percent to 2.7 percent, and increasing the Buckeye State’s gross domestic product between $8.3 billion and $17.4 billion.
One way to reduce the deficit by $400 billion over three years was to to eliminate global currency manipulation, he said.
Brown, a strong advocate for cracking down on Chinese currency manipulation and correcting the trade imbalance, said the deficit is ”more than just a statistic.”
”When industry and the government get tough on cheaters and enforce our trade laws, America wins,” Brown said in the release.