It’s been a long, almost 10-year ride, but shareholders of Montreal-headquartered Jean Coutu Group are finally getting something back from the company’s ill-fated adventure south of the border.
This week, on the back of strong earnings, it announced a special $0.50 a share special dividend plus the buy-back of 22 million shares at $18.50 a share. The profits gained from the sale of its remaining stake in Rite Aid, a U.S. pharmacy chain will help with funding those two shareholder-friendly initiatives.
Iraq is sharpening a push to sell its swelling crude output and sit at oil’s top table with Saudi Arabia, sweetening terms for contract buyers next year, its customers say.
Iraqi Oil Minister Abdul-Kareem Luaibi held court to oil executives in Vienna’s Hotel Imperial last week on the sidelines of an OPEC meeting. Some buyers have said they were concerned by higher prices and variable quality.
Homeland Security Secretary Jeh Johnson said on Monday he reassigned the acting administrator for the Transportation Security Administration after earlier ordering improved security at U.S. airports. TSA failed to detect mock explosives and weapons in 95 percent of tests carried out by undercover agents.