McDonald's, Target Shares, Under Pressure From Ackman, May Rise |
| Bloomberg - Sep 13, 2007 |
McDonald's Corp. and Target Corp., under pressure from activist investor William Ackman, may rise in New York trading today after taking steps to boost returns for shareholders.
McDonald's, the world's largest restaurant chain, yesterday raised its dividend by 50 percent. Target, the second-biggest U.S. discount retailer, said it may sell its $7 billion in credit-card loans and increase stock repurchases.
The 41-year-old Ackman, McDonald's 11th-largest shareholder with a 1.6 percent stake, will collect $28.2 million from McDonald's $1.50-a-share dividend. He invested in the Oak Brook, Illinois, chain in 2005 and bought a stake in Target this year, discussing with management ways to lift their stocks. The companies' shares will probably rise today, said Walter Todd, a principal at Greenwood Capital Associates LLC in Greenwood, South Carolina.
Read Full Article from Bloomberg
- Posted: 2007-09-13 10:13:35
| More Stock Investor Place Financial News |
 |
|
|
|
| Stock Investor Place Financial News Archive |
|
|
|
