Shares of Johnson Controls Inc (NYSE:JCI) ended Wednesday session in green amid volatile trading. The shares closed up +0.61 points or 1.39% at $44.55 with 8.08 million shares getting traded. Post opening the session at $44.26, the shares hit an intraday low of $43.97 and an intraday high of $44.60 and the price vacillated in this range throughout the day. The company has a market cap of $28.76 billion and the numbers of outstanding shares have been calculated to be 637.75 million shares.
Johnson Controls Inc (JCI) on Sept. 8, 2016 announced its board of directors has approved the previously announced spin-off of its global automotive seating and interiors business. The transaction will result in two independent, publicly traded companies: Johnson Controls International plc and Adient plc. The spin-off is expected to be completed on Oct. 31, 2016.
At the time of the separation, Adient will be the world’s largest global automotive seating supplier, supporting all major automakers in differentiating vehicles through superior quality, technology and performance. Johnson Controls will continue to operate as a global leader in building products and technology, integrated solutions and energy storage.
“Recent announcement is an important step as Adient continues on its path toward becoming an independent company,” said incoming Adient Chairman and Chief Executive Officer R. Bruce McDonald. “As the market leader in the automotive seating industry, Adient is well-positioned for growth and margin expansion as we commit to reinvesting in the business on a global basis.”
Shares of Altria Group Inc (NYSE:MO) ended Wednesday session in green amid volatile trading. The shares closed up +0.53 points or 0.84% at $63.50 with 4.97 million shares getting traded. Post opening the session at $62.83, the shares hit an intraday low of $62.60 and an intraday high of $63.63 and the price vacillated in this range throughout the day. The company has a market cap of $124.56 billion and the numbers of outstanding shares have been calculated to be 1.95 billion shares.
Altria Group Inc (MO) on August 26, 2016 announced that its Board of Directors voted to increase Altria’s regular quarterly dividend by 8.0% to $0.61 per common share versus the previous rate of $0.565 per common share. The quarterly dividend is payable on October 11, 2016, to shareholders of record as of September 15, 2016. The ex-dividend date is September 13, 2016.
The new annualized dividend rate is $2.44 per common share, representing a yield of 3.7% based on Altria’s closing stock price of $66.33 on August 19, 2016.