Top Financial Stocks
Financial stocks are mostly higher, with the NYSE Financial
Sector Index advancing 0.5% and the S&P Financial 100 Index
In company news, Armour Residential REIT Inc. (
) is narrowly higher at $4.15 a share, reversing small declines
earlier in the session after last night saying it has selected a
new Chief Operating Officer.
Mark Gruber previously was head of portfolio management at
ARMOUR Residential Management, the REIT's external manager. His new
job becomes effective Tuesday, Sept. 3.
ARR also said it has appointed Carolyn Downey as a new director
and includes a seat on the board's Nominating and Corporate
Governance committee. This brings the company back into compliance
with NYSE listing rules requiring a majority of board members to be
independent of the company.
In other sector news,
(+) UVE, (+3.6%) Declares one-time $0.02 increase in Q3 dividend
to $0.10 per share, payable Oct. 1 to shareholders of record on
Sept. 23. The insurer said its board intends to declare an $0.08
per share dividend in Q4.
(-) IBCP, (-0.1%) Closes public offering of 1.5 mln shares
priced at $7.75 each, generating $89.1 mln in gross proceeds, which
will be used to redeem convertible stock issued to U.S. Treasury in
a TARP rescue.
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