City Holding declares increased dividend
CHARLESTON — City Holding Co. Wednesday declared a dividend of 37 cents per common share for shareholders of record as of April 15.
The dividend, which is payable on April 30, reflects a 6 percent increase from the 35 cents paid in the first quarter of 2013.
“The decision to increase the dividend to $1.48 on an annualized basis is based on the Company’s current strong capital and liquidity position, our outstanding financial performance during 2012, and our confidence in the Company’s ability to sustain this performance,” President and CEO Charles Hageboeck said in a news release.
City Holding, a $3.4 billion bank holding company headquartered in Charleston, is the parent company of City National Bank of West Virginia, which operates 83 branches across West Virginia, Virginia, Eastern Kentucky and Southern Ohio.
Amazon gets Goodreads for undisclosed amount
NEW YORK — Amazon.com Inc., the world’s biggest online retailer that got its start in bookselling, has agreed to buy book recommendations site Goodreads.
Financial terms of the deal were not disclosed. Amazon said Thursday that it “shares a passion for reinventing reading,” with Goodreads.
“Goodreads has helped change how we discover and discuss books and, with Kindle, Amazon has helped expand reading around the world,” said Russ Grandinetti, vice president of Kindle content for Amazon. “In addition, both Amazon and Goodreads have helped thousands of authors reach a wider audience and make a better living at their craft. Together we intend to build many new ways to delight readers and authors alike.”
US court sides with EPA in Mich. pollution case
TRAVERSE CITY, Mich. — A federal appeals court says government regulators can take action when they fear a power company construction project might significantly increase air pollution, without waiting to see if they were right.
The U.S. Environmental Protection Agency sued DTE Energy in 2010 because the company replaced key boiler parts at its Monroe Unit 2 without installing pollution controls that are required whenever a utility performs a major overhaul.
DTE said the project was only routine maintenance.
U.S. District Judge Bernard Friedman threw out the suit, saying EPA went to court too soon.
But the Sixth U.S. Circuit Court of Appeals overturned his decision Thursday. In a 2-1 ruling, the court says the law doesn’t block EPA from challenging suspected violations of its regulations until long after power plants are modified.
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