Synovus Financial Corp. said its board of directors has declared a dividend of 7 cents per share on the company's common stock. The dividend will be payable July 1 to shareholders of record June 19.
The increase in the dividend to 7 cents per share from the penny per share dividend paid by the regional bank in prior quarters -- going back to the Great Recession -- is the result of the one-for-seven reverse stock split the company triggered on May 16.
That move bundled every seven shares of common stock owned by investors before the split into one share after the split.
Synovus is the parent company of Columbus Bank and Trust. The company oversees approximately $26 billion in assets through 28 locally branded divisions, 274 branches, and 358 ATMs in Georgia, Alabama, South Carolina, Florida, and Tennessee.
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Carmike Cinemas to Acquire Digital Cinema Destinations Corp. in an All Stock Transaction
Carmike Cinemas said it has entered an agreement to acquire a Westfield, N.J.-based movie theater company called Digiplex.
The agreement is a stock-for-stock transaction in which Carmike will acquire 100 percent of Digiplex's 7.93 million shares outstanding, the company said. Each Digiplex share will be exchanged for 0.1775 shares (subject to certain potential reductions) of Carmike common stock.
Digiplex currently operates in 21 locations with 206 screens, and has agreements to acquire another 5 theaters with 53 screens.
Since its founding in 2010 by businessman Bud Mayo, Digiplex has been a fast-growing theatrical exhibitor dedicated to transforming its movie theaters into interactive digital entertainment centers featuring "something for everyone," Carmike said.
Digiplex has been a pioneer and leader in alternative programming and has a 50 percent interest in the DigiNext distribution platform, the company said.
Carmike's purchase is expected to close in the third quarter of this year and will increase its footprint to 280 theaters and 2,936 screens in 41 states, including Digiplex's own future theater purchase. The company has said its goal is to reach 300 theaters and 3,000 screens.
Mayo, chairman and CEO of Digiplex, has agreed to vote stock representing 39.5 percent of the Digiplex voting stock in favor of the transaction.
"Since its founding less than four years ago, Digiplex has been building a circuit of quality theaters based in leading markets," said Carmike President and Chief Executive Officer David Passman. "The circuit is a very complementary fit to Carmike and the acquisition enables us to add four new states -- Arizona, Connecticut, Maryland and New Hampshire -- to our expanding geographic footprint.
All of the theaters in Digiplex's current circuit feature digital projection systems. Over 35 percent of the screens are capable of showing 3-D programming, and one theater in Surprise, Ariz., has an IMAX auditorium.
Team members from Kia Motors Manufacturing Georgia paint the home of West Point resident
Employees from Kia Motors Manufacturing Georgia (KMMG) recently painted the home of a West Point, Ga., resident as part of its voluntary community service initiative, "Paint the Town," and Dependable Affordable Sustainable Housing (DASH) of LaGrange,
KMMG also donated $2,000 to DASH to assist with its community revitalization efforts.
Sang Ho Moon, senior vice president for production sub-division, helped Kia team members paint the home, the company said.
"It is very rewarding to see KMMG's team members working together while giving back to our community," Moon said in a statement. "The City of West Point is KMMG's home and we are all so proud to be able to contribute our time locally. Whether it is painting a home, beautifying the downtown area or cleaning up around West Point Lake, we look forward to many more chances to demonstrate our commitment to being good corporate citizens.
The West Point homeowner, Bettye Tramell, was grateful for her freshly painted home.
"The Kia team was great to work with," Tramell told Kia. "They came in and just really gave it their all. It was almost like I already knew everyone personally. And it was not only the Kia team, but their families were also great to work with."
Kia employees said they were glad to help out.
"I just wanted to give back to the community," said general assembly employee Andy Carratala.
William Bridges, a paint repair worker, brought his wife and granddaughter to help paint.
"This was a perfect way to enjoy the weather and do some team building with other KMMG team members who I didn't know," Bridges said.
Seoul, South Korea-based Kia Motors opened its auto assembly plant -- its first in North American -- in November 2009. With an annual capacity of 360,000 units, the plant produces the Sorento crossover utility vehicle and the Optima mid-size sedan.
KMMG is located on 2,200 acres in West Point.
Aflac Duck and Celebrity Contractor Collaborate On Do-It-Yourself Home Improvement Project
Aflac unveiled its newest television commercial, called "The Duck's DIY Project," during part one of "The Voice" season finale, which aired Monday night on NBC.
As an extension of the "FORE! Days" commercial, which highlighted how the Aflac duck lacks golf skills, but is great at paying claims fast, the Aflac duck takes on a new hobby and tries to fulfill the role of a do-it-yourself handyman.
The new commercial continues Aflac's campaign focusing on how the company pays benefits quickly so policyholders can focus on recovering from injury or illness without worrying about their finances.
"In our latest commercial, the Aflac duck demonstrates that there are countless opportunities for accidents to occur while completing do-it-yourself projects around the house," Michael Zuna, Aflac executive vice president and chief marketing officer, said in a statement.
In "The Duck's DIY Project," celebrity licensed contractor Scott McGillivray, host and executive producer of HGTV's "Income Property," is less than impressed with the Aflac duck's home improvement skills when he hands him a plunger instead of a wrench, can't start a chain saw, and haphazardly aims a pneumatic nailer throughout the garage.
But when McGillivray finds out how quickly Aflac paid his friend's claim for a broken arm -- in only four days -- he realizes the Aflac duck might be more helpful than he thought.
As part of the new TV commercial, Aflac is launching a marketing campaign that includes digital banner ads, public relations outreach and social activations on the Aflac duck's Facebook, Twitter, Instagram and YouTube pages.
During the campaign, the Aflac Duck will select three lucky social media fans to receive a visit from a home improvement expert to help knock a quick project off his or her DIY home improvement list. Fans also will watch as craftsmen create small, toy woodcrafts to help illustrate daily out-of-pocket expenses as well as larger-than-life chainsaw carvings of the famous Aflac Duck.