WASHINGTON, DC and CHARLESTON -- United Bankshares reported Thursday, that it had been recently added to the Dow Jones U.S. Select Dividend Index.
This Index is derived from the Dow Jones U.S. Index, which covers approximately 95 percent of U.S. market capitalization. Stocks are screened by dividend per share growth rate, dividend payout ration, average daily dollar trading volume and are selected based upon dividend yield. The Dow Jones U.S. Select Dividend Index tracks the top 100 highest dividend paying U.S. companies.
United Bankshares is one of a very few listed companies that has increased dividends to shareholders for 34 consecutive years. Richard Adams, chairman and chief executive officer, said in a press release, "This recognition of our successful record of dividend increases for our shareholders demonstrates our long history of consistent, strong, financial performances. Our dedicated employees and our loyal customers have been the driving force four our continued success."
QuickBooks workshop now accepting registration
HUNTINGTON -- The West Virginia Small Business Development Center at Marshall Community and Technical College will offer an Accounting with QuickBooks workshop from 6 to 9 p.m. Monday and Tuesday, May 19 and 20, at 348 15th St., Huntington.
Roberta Weaver of Bagby and Weaver CPAs will conduct the workshop. Topics include measuring business profitability, tracking cost of goods sold, tracking payroll, creating budgets, using registers, recording loan payments, tracking and paying sales tax and using Quick Reports. This will be a hands-on class with computers. Participants will receive a workbook to take home.
Registration is required and the workshop fee is $149. To register, visit www.sbdcwv.org and click on Training and Workshop Calendar, or call Kathleen Thornton at (304) 399-1042. Payment may be made at the door.
Chesapeake Energy dedicates field office
JANE LEW -- Chesapeake Energy Corp. dedicated a new field office Thursday in Jane Lew in Lewis County.
During the dedication, Chesapeake officials presented a $20,000 donation to the Jackson's Mill Fire Department and a $20,000 donation to the Jane Lew Fire Department, according a news release.
Chesapeake, which Columbia Natural Resources in 2005, employs over 400 West Virginians directly and 3,000 indirectly.
130-year-old W.Va. clothing store to close
CHARLESTON -- Clothing store Schwabe-May is closing its doors after 130 years of operation in West Virginia's capital.
Family-owned Schwabe-May had filed for Chapter 11 bankruptcy protection in March 2007. The store is scheduled to close May 17.
Owner Lynne Schwabe attributes the shutdown to customers' changing retail habits and personal issues.
Schwabe says she has been diagnosed with breast cancer and is caring for older relatives.
Albert Schwabe and his cousin, Isadore May, founded the store in downtown Charleston in 1880. In 1983, Schwabe-May moved to Charleston Town Center, then relocated to downtown in 2006.
Lynne Schwabe's ex-husband, Albert Schwabe III, is the grandson of Albert Schwabe. She bought the store in 2002.
Wal-Mart same-store sales rise 3.2% in April
BENTONVILLE, Ark. -- Wal-Mart Stores Inc. says sales of groceries and items such as flat-screen TVs boosted its same-store sales in April above Wall Street expectations.
The world's largest retailer said same-store sales rose 3.2 percent, easily beating Wall Street's 2.1 percent growth forecast. Including fuel, same-store sales climbed 3.8 percent.
The sales figure, which counts only stores open at least one year, is considered a key measure of a retailer's fiscal health.
Same-store sales rose 2.6 percent at namesake Wal-Mart stores and 6.6 percent at Sam's Club, excluding fuel.
Total sales for the four weeks ended May 2 rose 10 percent to $29.18 billion.
The Bentonville, Ark.-based company says it expects May sales growth by the same measure, excluding fuel, to be flat to up to 2 percent.
Top 3 airlines boost fuel charge by $20 roundtrip
NEW YORK -- The three biggest U.S. carriers said Thursday they have again raised ticket prices, this time by $20 roundtrip, to recoup rapidly rising fuel costs.
The increases by American Airlines, United Airlines and Delta Air Lines affect the carriers' fuel surcharges, which now total $130 roundtrip on many flights. That means passengers on some cheap flights could be paying more in fees and taxes than for the airfare itself.
Delta Air Lines Inc. initiated the increase, which applies to most domestic routes. It is the Atlanta-based carrier's second hike in just over a week. The previous increase was quickly matched by competitors.
Representatives for AMR Corp.'s American Airlines and UAL Corp.'s United Airlines said the carriers matched the increase on most routes Thursday.
Airlines have been racing to raise airfares, tack on surcharges, and charge for amenities such as extra bags and legroom as they struggle to cope with soaring energy prices. Many airlines now count fuel as their biggest cost.
The price of jet fuel, like gasoline, has risen rapidly along with the price of crude. A gallon on the spot market in New York was selling for $3.57 as recently as Tuesday, according to the Energy Information Administration. That is up about 78 percent from this time last year.
At the same time, carriers are cutting back on flights to reduce costs and maintain their pricing power as the economy slows. Even so, analysts expect many large carriers to post large losses this year.
"I would say to my CEOs: fasten your seat belts, tougher times are coming," Giovanni Bisignani, director general and chief executive of the International Air Transport Association trade group, said in an interview.
Rick Seaney, chief executive of airfare research site FareCompare.com, said the increases mean that fees and taxes together now cost more than the actual base fare on several short-haul flights.
"With a backdrop of a slowing economy, I continue to look for a tipping point where domestic air travelers begin to significantly push back on record high airline ticket prices. At best the jury is still out," Seaney said in an e-mail.
Delta shares fell 10 cents to $7.57. AMR shares fell 26 cents to $8.31, while UAL shares fell 28 cents to $13.54.
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