Weyerhaeuser declares dividend
The Board of Directors of Federal Way, Wash.-based Weyerhaeuser Co. declared a dividend of $0.15 per share on the common stock of the corporation payable June 1, 2012, to shareholders of record at the close of business May 11, 2012.
Weyerhaeuser, one of the world’s largest forest products companies, began operations in 1900. The company grows and harvest trees, builds homes and makes a range of forest products. At the end of 2011, the company generated annual sales of $6.2 billion and employed approximately 12,800 employees in 11 countries.
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Bank robber stashes loot in Lowe’s trash can
A suspected bank robber in Santa Fe, N.M. was arrested this week after a Lowe’s employee uncovered more than $48,000 in stolen cash from a store trash can, according to an article in the Albuquerque Journal.
Jaime Jesus Sanchez-Ramos, age 23, was arrested on April 10 and charges with an April 2 robbery at U.S. Bank. The suspect, who was wearing a green hooded jacket and a ski mask, allegedly entered the building and, at gunpoint, demanded money from a teller. Sanchez-Ramos fled with a box of cash stuffed with $52,650, according an FBI affidavit filed in court.
Later that same day, a Lowe’s employee working at a store two blocks away from the bank said he saw a man "putting something into a trash can" near the parking lot. The employee found "a green hooded jacket wrapped around bundles of cash,” and the money had U.S. Bank wrappers on each cash bundle, according to the affidavit. The total amount recovered from the trash was $48,100.
An FBI spokesman told the newspaper that federal authorities are looking into whether he’s connected to three other Santa Fe bank robberies going back to January.
Tractor Supply passes billion-dollar barrier in first quarter
Reacting quickly to an early spring, Brentwood, Tenn.-based Tractor Supply Co. said its first-quarter sales increased 22% to $1.02 billion.
Same-store sales for the quarter increased 11.5%. The country’s largest farm-and-ranch retailer, which will release its full first-quarter earnings results April 25, said the same-store sales increase was driven, in part, by early spring weather in 2012.
"We are delighted to have achieved record first-quarter sales in excess of $1 billion for the first time in Tractor Supply’s history, with favorable customer response to our spring assortments and ongoing merchandising enhancements,” said CEO Jim Wright. “The structural improvements we have made to our business in recent years have enabled us to adapt our assortments more readily to meet consumer demand and react quickly to take advantage of events, such as the early spring weather seen in March.”
Based on strong results in the first quarter, Tractor Supply raised its financial expectations for 2012. Net sales are now expected to range between $4.61 billion and $4.68 billion compared with the company’s previously expected range of $4.56 billion to $4.66 billion. Same-store sales for the full year are now expected to increase 4.0% to 5.5% compared with the prior expectation for an increase of 3% to 5%. Net income is now expected to range between $260 million and $265 million compared with the prior expectation of $246 million to $253 million.
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