Market Newsdesk

OAKS, Pa., Dec. 8, 2020 /PRNewswire/ — The Board of Directors of SEI Investments Company (NASDAQ: SEIC) on Dec. 8, 2020 declared a regular semi-annual dividend of $0.37 (thirty-seven cents) per share. The cash dividend will be payable to shareholders of record on Dec. 21, 2020, with a payment date of Jan. 7, 2021.

About SEI
After 50 years in business, SEI (NASDAQ:SEIC) remains a leading global provider of investment processing, investment management, and investment operations solutions designed to help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of Sept. 30, 2020, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages, advises or administers approximately $1 trillion in hedge, private equity, mutual fund and pooled or separately managed assets, including approximately $330 billion in assets under management and $755 billion in client assets under administration. For more information, visit seic.com.

Company Contact

:

Leslie Wojcik

SEI
+1 610-676-4191
[email protected]

 

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SOURCE SEI Investments Company

LONGMONT, Colo., Dec. 8, 2020 /PRNewswire/ — S&W Seed Company (Nasdaq: SANW), a global agricultural technology company, today provided an update on its seed trait technology development and commercialization activities.

“Over the past few years, S&W has made significant progress toward its evolution into a completely integrated agricultural seed company. Key to that transformation has been the development, and now the commercial launch, of proprietary seed trait technology products,” commented Mark Wong, CEO of S&W Seed Company. “The commercialization of these products is anticipated to transform the operating profile of S&W into a high growth, high margin business, with more than 50% of our gross profit contribution within the next decade expected to come from these new tech products. With a highly accomplished management team that has successfully developed, marketed, licensed, and sold similar trait technologies over the years, I am highly optimistic that S&W is entering a new era.”

Today S&W also released a technology development and commercialization presentation, which can be found at https://swseedco.com/investors/.

Lead Trait Technology Products

Double Team™ Sorghum (DT™):

• Non-GMO tolerance to broad spectrum grass herbicide.
• Commercial launch expected in spring 2021.
• Potential to revolutionize the sorghum market in the same way other weed control technologies have enhanced yields for crops such as corn, soybeans and cotton.
• DT™ trait is expected to have the highest value of any commercial sorghum trait currently in the market.
• Market survey indicates strong grower demand/adoption.
• Introduction of DT™ sorghum has potential to significantly expand size of sorghum market which has previously been unable to address issues with grassy weed competition.
• Product discovered and developed by in-house R&D team. Partnered with ag chem company ADAMA for herbicide registration and commercial development.
• Initial market launch in grain sorghum planned in the U.S., with international expansion expected to primarily be driven by Brazil.
• Product to initially be marketed by S&W and also made available for out-licensing to major agricultural companies with existing sorghum market share.

Improved Quality Alfalfa (IQ™):

• Designed to provide farmers a new way to produce alfalfa forage with improved ruminant digestibility.
• Commercial launch expected in fall 2021.
• Improved digestibility increases efficiency of dairy operations, resulting in more milk per ton of feed, higher income for alfalfa producers, and reduced dietary wastage.
• IQ™ alfalfa designed to be a stand-alone, non-GMO product that is not coupled with other GMO technologies.
• Developed in partnership with leading biotech company, Calyxt, Inc. (Nasdaq: CLXT).
• S&W plans to market IQ™ products under its Alfalfa Partners brand and will also offer IQ™ licenses to industry partners.
• Initially developed for non-dormant alfalfa varieties, to be followed by dormant alfalfa variety options in 2022 and beyond.

Dhurrin-Free Sorghum (DF™):

• Dhurrin is a natural toxin that sorghum produces to protect itself from grazing animals when the plant is under stress from drought, temperature fluctuation or other conditions. In some circumstances, the biproduct of dhurrin metabolism, prussic acid, can kill livestock.
• Genetically removing dhurrin can eliminate the risks associated with grazing on or producing hay from stressed sorghum fields.
• Developed in partnership with and licensed from Purdue University.
• DF™ trait is expected to shift forage sorghum seed market from commodity (low value) to propriety (high value).
• S&W expects to be the only company in the market with this technology.
• Projected commercial launch in 2023.

Financial Opportunity and Vision

Management has conducted substantial market research to assess the combined potential opportunity for the Company’s three lead trait technology products and its core non-tech business. This included surveys with growers, distributors, potential licensees and industry experts, among others. Based on this market research and management’s estimates and assumptions of market share, technology prices and anticipated continued growth of the existing core business, the Company provided the following mid- and long-term financial vision.

The following is intended to provide a guide as to the potential financial opportunity for the Company. While subject to risk and uncertainty, and the Company’s performance as compared to various estimates and assumptions, we believe the following provides useful insight into management’s view regarding the potential growth opportunities for the Company’s business, and how management intends to measure the success of its planned commercial launch of the Company’s three lead trait technology products. 

• FY 2024 total revenue of $130 million with $13 million of adjusted EBITDA. $12 million of FY 2024 total revenue expected to come from technology products, encompassing seed, trait and license revenue.
• FY 2026 total revenue of $176 million with $34 million of adjusted EBITDA. $35 million of FY 2026 total revenue expected to come from technology products, encompassing seed, trait and license revenue.
• FY 2031 total revenue of $234 million with $69 million of adjusted EBITDA. $70 million of FY 2031 total revenue expected to come from technology products, encompassing seed, trait and license revenue.
• More than 50% of the Company’s gross profit contribution within next decade is expected to come from new trait technology products.
• Revenue (excluding new trait technology products), is anticipated to grow at 18.4% CAGR through FY 2024, 15.4% CAGR through FY 2026, and 9.6% CAGR through FY 2031.

Non-GAAP Financial Measures

In addition to financial measures included in the Company’s financial vision that are calculated in accordance with accounting principles generally accepted in the United States of America (“GAAP”), the Company has provided adjusted EBITDA, which is a non-GAAP financial measure. S&W uses non-GAAP financial measures internally to facilitate period-to-period comparisons and analysis of its operating performance and liquidity, and believes they are useful to investors as a supplement to GAAP measures in analyzing, trending and benchmarking the performance and value of the Company’s business. However, these measures are not intended to be a substitute for those reported in accordance with GAAP. These measures may be different from non-GAAP financial measures used by other companies, even when similar terms are used to identify such measures.

Adjusted EBITDA is a non-GAAP financial measure that we define as GAAP net income (loss), adjusted to exclude non-recurring transaction costs, depreciation and amortization, non-cash stock-based compensation, foreign currency (gain) loss, change in contingent consideration liabilities, reduction of anticipated loss on sub-leased land, interest expense –amortization of debt discount, interest expense, and provision (benefit) for income taxes. We believe that the use of adjusted EBITDA is useful to investors and other users of the Company’s financial statements in evaluating our operating performance because it provides them with an additional tool to compare business performance across companies and across periods. We use adjusted EBITDA in conjunction with traditional GAAP operating performance measures as part of our overall assessment of our performance, for planning purposes, including the preparation of our annual operating budget, to evaluate the effectiveness of our business strategies and to communicate with our board of directors concerning our financial performance. Management does not place undue reliance on adjusted EBITDA as its only measure of operating performance. Adjusted EBITDA should not be considered as a substitute for other measures of financial performance reported in accordance with GAAP. S&W has not reconciled adjusted EBITDA to net income (loss) because S&W has not provided assumptions for the other line items that are reconciling items between net income (loss) and adjusted EBITDA. As items that impact net income (loss) are out of S&W’s control and cannot be reasonably predicted, S&W is unable to provide such an outlook. Accordingly, reconciliation of adjusted EBITDA outlook to net income (loss) is not available without unreasonable effort.

About S&W Seed Company


Founded in 1980, S&W Seed Company is a global agricultural company headquartered in Longmont, Colorado. S&W’s vision is to be the world’s preferred proprietary seed company which supplies a range of forage and specialty crop products that supports the growing global demand for animal proteins and healthier consumer diets. S&W is a global leader in proprietary alfalfa, sorghum and pasture seeds, with significant research and development, production and distribution capabilities. S&W’s product portfolio also includes hybrid sunflower and wheat and the company is utilizing its research and breeding expertise to develop and produce stevia, the all-natural, zero calorie sweetener for the food and beverage industry. For more information, please visit www.swseedco.com.

Safe Harbor Statement



This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected.” Forward-looking statements in this release include, but are not limited to: the anticipated operating and financial performance benefits derived from the commercialization of our three lead tech products, including the transformation of our operating profile into a high growth, high margin business; assumptions and estimates regarding the potential financial opportunity presented by our lead tech products, including the various financial measures included under the heading “Financial Opportunity and Vision”; expectations regarding the agricultural benefits of our three lead tech products; timing of commercial launch of these three products; and statements regarding the advancement of our strategic plans.  You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that future acquisitions may not yield the anticipated benefits; sales during the high-volume selling season may be lower than expected; the realignment of our organization across geographic lines and to benefit from a multi-crop portfolio may not meet our expectations; our strategic initiatives may not achieve the expected results; global pandemics and other health crises, such as COVID-19, may negatively impact our operations and financial results; and the risks associated with our ability to successfully optimize and commercialize our business. These and other risks are identified in our filings with the Securities and Exchange Commission, including, without limitation, our Annual Report on Form 10-K for the year ended June 30, 2020 and in other filings subsequently made by the Company with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise.

 

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SOURCE S&W Seed Company

NEW YORK, Dec. 8, 2020 /PRNewswire/ — Synaptogenix, Inc. (OTC: SNPX), formerly Neurotrope Bioscience, Inc., today announced the successful spin-off of substantially all of the legacy assets and liabilities of Neurotrope, Inc. into the newly renamed company which is trading under the new symbol: SNPX.

“We expect Synaptogenix to benefit from the current environment where global pharmaceutical companies and institutional investors are both seeking opportunities in new neuro-restorative strategies to treat Alzheimer’s disease, as well as other neurodegenerative diseases,” stated Daniel Alkon, M.D., President and Chief Scientific Officer. “The work we have pioneered for the last twenty years on our first in class regenerative therapeutic platform now serves as the foundation for an entirely new emphasis from both the scientific and investment communities. Our lead compound, Bryostatin-1, has demonstrated safety and has shown promising signals of meaningful cognitive improvement over baseline function. This synaptogenesis and prevention of neuronal death are, we believe, critical for treating Alzheimer’s disease, as well as other important neurodegenerative conditions such as Multiple Sclerosis, Parkinson’s disease, Fragile X syndrome, and autistic spectrum disorders.”

Dr. Alan J. Tuchman, CEO of Synaptogenix, Inc. added, “We are very pleased with the progress we are making on our NIH sponsored Phase 2 Alzheimer’s trial and look forward to further updating the market in the near future. This trial extends the duration of dosing to six months and builds on the valuable lessons we have learned from previous, limited-duration pilot studies. We are also exploring opportunities for additional NIH grants and hope to conduct early trials for additional neurodegenerative indications in the near future.”

Josh Silverman, Chairman of Synaptogenix, Inc. stated, “The successful spin off of Synaptogenix, following the recently announced merger between Metuchen Pharmaceuticals, LLC and Neurotrope, Inc., forming Petros Pharmaceuticals, Inc. (Nasdaq: PTPI), completes the strategic step of realigning our assets to maximize shareholder value going forward. We are excited and focused on creating value in each of these two companies for our investors in the near term.”  

Management will host a conference call Tuesday, December 15, at 4:15pm ET. Interested participants may dial either Toll Free: 877-407-9205 or International: 201-689-8054. A webcast will be available as well at https://www.webcaster4.com/Webcast/Page/2599/39136. Please submit any questions in advance to [email protected].

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, PC served as legal counsel to Neurotrope, Inc. and Synaptogenix and Morgan, Lewis & Bockius served as legal counsel to Metuchen with respect to the transaction.

About Synaptogenix, Inc.

Synaptogenix is a clinical-stage biopharmaceutical company that has historically worked to develop novel therapies for neurodegenerative diseases. Synaptogenix has conducted clinical and preclinical studies of its lead therapeutic candidate, Bryostatin-1, in Alzheimer’s disease, and preclinical studies for rare diseases such as Fragile X syndrome, Rett syndrome and Niemann-Pick Type C disease as well as other indications including multiple sclerosis, stroke and traumatic brain injury. The U.S. Food and Drug Administration has granted Orphan Drug Designation to Synaptogenix for Bryostatin-1 as a treatment for Fragile X syndrome. Bryostatin-1 has already undergone testing in more than 1,500 people in cancer studies, thus creating a large safety data base that will further inform clinical trial designs.

Additional information about Synaptogenix, Inc. may be found on its website: www.synaptogen.com or www.neurotrope.com.

Forward-Looking Statements

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. These forward-looking statements include statements regarding the Phase 2 study and further studies, and continued development of use of Bryostatin-1 for Alzheimer’s disease and other cognitive diseases. Such forward-looking statements are subject to risks and uncertainties and other influences, many of which the Company has no control over. There can be no assurance that the clinical program for Bryostatin-1 will be successful in demonstrating safety and/or efficacy, that we will not encounter problems or delays in clinical development, or that Bryostatin-1 will ever receive regulatory approval or be successfully commercialized. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Additional factors that may influence or cause actual results to differ materially from expected or desired results may include, without limitation, the Company’s inability to obtain adequate financing, the significant length of time associated with drug development and related insufficient cash flows and resulting illiquidity, the Company’s patent portfolio, the Company’s inability to expand its business, significant government regulation of pharmaceuticals and the healthcare industry, lack of product diversification, availability of the Company’s raw materials, existing or increased competition, stock volatility and illiquidity, and the Company’s failure to implement its business plans or strategies. These and other factors are identified and described in more detail in the Company’s filings with the Securities and Exchange Commission, including the Company’s Registration Statement on Form S-1 (File No. 249434). The Company does not undertake to update these forward-looking statements.

Contact information:

Investors and Media
Neil Cataldi
[email protected] 
973.510.2283

Robert Weinstein

Chief Financial Officer
NBI / Synaptogenix, Inc.
[email protected]
973.242.0005 x101 

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SOURCE Neurotrope Bioscience, Inc.

GERMANTOWN, Tenn., Dec. 8, 2020 /PRNewswire/ — MAA (NYSE: MAA) today announced that its board of directors approved a quarterly dividend payment of $1.025 per share of common stock to be paid on January 29, 2021 to shareholders of record on January 15, 2021, representing a 2.5% increase over the prior rate.

The increase will raise the annualized dividend payout to $4.10 per share of common stock, an increase of $0.10 per share from the prior dividend level. This is MAA’s eleventh consecutive annual increase of its common dividend.

As established in prior quarters, the board of directors declared the quarterly common dividend in advance of MAA’s earnings announcement that is expected to be made on January 27, 2021.

About MAA
MAA is a self-administered real estate investment trust (REIT) and member of the S&P 500. MAA owns or has ownership interest in apartment communities throughout the Southeast, Southwest and Mid-Atlantic regions of the U.S. focused on delivering strong, full-cycle investment performance. For further details, please refer to www.maac.com or contact Investor Relations at [email protected].

Certain matters in this press release may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended with respect to our expectations for future periods. Such statements include statements made about the payment of common dividends. The ability to meet the payment of common dividends in or contemplated by the forward-looking statements could differ materially from the projection due to a number of factors, including a downturn in general economic conditions or the capital markets, changes in interest rates and other items that are difficult to control such as increases in real estate taxes in many of our markets, as well as the other general risks inherent in the apartment and real estate businesses. Reference is hereby made to the filings of Mid-America Apartment Communities, Inc. with the Securities and Exchange Commission, including quarterly reports on Form 10-Q, reports on Form 8-K, and its annual report on Form 10-K, particularly including the risk factors contained in the latter filing.

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SOURCE MAA

OAK BROOK, Ill., Dec. 8, 2020 /PRNewswire/ — Retail Properties of America, Inc. (NYSE:  RPAI) (the “Company“) today announced that its board of directors has declared a fourth quarter dividend for its outstanding Class A common stock of $0.06 per common share, up from the $0.05 per common share declared for the third quarter. “This sequentially higher dividend level reflects the operational and financial progress we reported with our third quarter results,” stated Steve Grimes, chief executive officer. “We look forward to continuing to advance our goal to grow this quarterly dividend amount during 2021 as conditions warrant.” The dividend of $0.06 per common share will be paid on January 8, 2021, to Class A common stockholders of record on December 23, 2020.

ABOUT RPAI
Retail Properties of America, Inc. is a REIT that owns and operates high quality, strategically located open-air shopping centers, including properties with a mixed-use component. As of September 30, 2020, the Company owned 102 retail operating properties in the United States representing 20.0 million square feet. The Company is publicly traded on the New York Stock Exchange under the ticker symbol RPAI. Additional information about the Company is available at www.rpai.com.

CONTACT INFORMATION

Michael Gaiden

Vice President – Capital Markets and Investor Relations
Retail Properties of America, Inc.       
(630) 634-4233

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SOURCE Retail Properties of America, Inc.

HOUSTON, Dec. 8, 2020 /PRNewswire/ — Powell Industries, Inc. (NASDAQ: POWL), a leading supplier of custom engineered solutions for the management, control and distribution of electrical energy, today announced results for the fiscal 2020 fourth quarter ended September 30, 2020.

Key Highlights:

• Revenues for the fourth quarter of fiscal 2020 totaled $115 million,
• Net Income in the fiscal fourth quarter of 2020 was $3.0 million or $0.25 per diluted share,
• Cash and short-term investments as of September 30, 2020 totaled $179 million,
• Backlog as of September 30, 2020 totaled $477 million.

Brett A. Cope, Powell’s Chairman and Chief Executive Officer, stated, “We closed our fiscal 2020 with another quarter of strong project execution despite the lower volume across our core Oil, Gas, & Petrochemical markets. Consolidated gross margin in our fiscal fourth quarter grew sequentially by 85 basis points, while we generated $18 million of free cash flow as we maintained our diligent focus on working capital initiatives and cost containment efforts. As we navigate through this current cycle, we continue to receive and adjust to customer requested changes impacting project schedules as our clients proactively adapt to the current environment.  As we have seen in prior downturns, we are confident that the majority of this work and associated scheduling will improve as clarity within the industrial sector is restored. Powell has weathered prior cycles of lower volumes and customer activity, and we remain confident in our position within our core markets as well as emerging new opportunities that will leverage our expertise.”

Revenues for the fourth quarter of fiscal 2020 totaled $114.7 million compared to $118.1 million in the third fiscal quarter of 2020 and revenue of $148.5 million for the fourth quarter of fiscal 2019.

Net income for the fourth quarter of fiscal 2020 was $3.0 million, or $0.25 per diluted share, compared to net income in the third quarter of fiscal 2020 of $3.5 million, or $0.30 per diluted share, and net income of $6.5 million, or $0.56 per diluted share, for the fourth quarter of fiscal 2019.  

New orders placed in the fourth quarter of $57 million included $75 million of gross new orders, partially offset by $18 million of scope reductions and cancelled orders.  The $57 million of net new orders in our fiscal fourth quarter compares to $81 million in the third fiscal quarter of 2020 and $162 million in the fiscal fourth quarter of fiscal 2019.

Backlog as of September 30, 2020 declined 10% sequentially and totaled $477 million compared to $532 million at June 30, 2020 and $566 million at March 31, 2020.

Mr. Cope added, “Looking ahead, we will continue to prioritize the health and safety of our employees and customers. Visibility into our core industrial end-markets remains challenged by the impact of the pandemic and we are positioning for a softer commercial environment as we move into fiscal 2021. We are focused on continuing to drive operational excellence and being diligent on our cost structure.  Finally, the strength of our balance sheet enables us to navigate through periods of lower economic activity, while also positioning us well to capitalize on future opportunities.”

OUTLOOK

Commenting on the company’s outlook, Michael Metcalf, Powell’s Chief Financial Officer said, “As we look forward to fiscal 2021, we maintain our expectation of a more challenged industrial environment, particularly across our core Oil, Gas and Petrochemical end-markets.  However, we are seeing strong activity in our Utility and Traction markets that are helping to utilize and leverage our asset base. Additionally, we are entering fiscal 2021 with $477 million of backlog, roughly 60% of which we expect to convert to revenue throughout this upcoming fiscal year. We will continue to focus on cost containment and effective working capital management as we position ourselves for the eventual return of higher customer order activity.”

CONFERENCE CALL 

Powell Industries has scheduled a conference call for Wednesday, December 9, 2020 at 11:00 a.m. Eastern time.   To participate in the conference call, dial 877-270-2148 at least 10 minutes before the call begins and ask for the Powell Industries conference call.  A replay of the call will be available approximately two hours after the live broadcast ends and will be accessible until December 16, 2020.  To access the replay, dial 877-344-7529 using a passcode of 10150185#.

Investors, analysts and the general public will also have the opportunity to listen to the conference call over the Internet by visiting powellind.com. To listen to the live call on the web, please visit the website at least 15 minutes before the call begins to register, download and install any necessary audio software.  For those who cannot listen to the live webcast, an archive will be available shortly after the call and will remain available for approximately 90 days at powellind.com.

Powell Industries, Inc., headquartered in Houston, designs, manufactures and services custom-engineered equipment and systems for the distribution, control and monitoring of electrical energy.  Powell markets include large industrial customers such as utilities, oil and gas producers, refineries, petrochemical plants, pulp and paper producers, mining operations and commuter railways.   For more information, please visit powellind.com.

Any forward-looking statements in the preceding paragraphs of this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties in that actual results may differ materially from those projected in the forward-looking statements.  In the course of operations, we are subject to certain risk factors, competition and competitive pressures, sensitivity to general economic and industrial conditions, international political and economic risks, availability and price of raw materials and execution of business strategy.  For further information, please refer to the Company’s filings with the Securities and Exchange Commission, copies of which are available from the Company without charge.

 

 

 

 

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SOURCE Powell Industries

SANTA CLARA, Calif., Dec. 8, 2020 /PRNewswire/ — Ferrotec (USA) Corporation, the US subsidiary of Ferrotec Holdings Corp., a global supplier of materials, components, and precision system solutions, today announced that it has purchased MeiVac Incorporated.

MeiVac brings more than 25 years of experience as an industry leader in providing high-quality thin-film manufacturing systems, components and process solutions. It is a multi-faceted supplier of standard and specialty vacuum processing systems and components used in multiple high technology production and development applications. MeiVac’s served markets include data storage, photonics, telecom and government/R&D, among others.

“MeiVac’s vacuum coating and thin-film deposition are very complementary to Ferrotec’s existing vacuum products,” said Eiji Miyanaga, CEO of Ferrotec (USA) Corporation. “By combining MeiVac’s deposition process and engineering expertise with our technology portfolio and our strong global position, we expect this acquisition to have strategic and synergistic importance.”

“As a leader in the semiconductor industry, Ferrotec’s evaporative coating systems and vacuum components are recognized as the go-to solutions in their respective processes,” said David A. Meidinger, President and CFO of MeiVac, Inc. “With MeiVac’s sputtering tools expertise and our vacuum components offering, we see a harmonious path forward for our products and technology.”

More About Ferrotec

Founded in 1980, on a technology core of Ferrofluid magnetic liquid and Ferrofluidic® sealing products, Ferrotec Holdings Corporation (JASDAQ: 6890 (OTC)) is a worldwide leader in the supply of materials, components, and precision system solutions for industrial businesses. Ferrotec is a diversified world-class industrial organization with a global presence in a broad array of technology driven end markets (semiconductors, automotive, biomedical applications, smart phones, LEDs and FPDs). More information about Ferrotec’s products can be found at www.ferrotec.com.

More About MeiVac

Founded in 1993, MeiVac Inc., established itself as a world-class manufacturing organization of sophisticated thin film deposition equipment and vacuum process components. MeiVac is a key supplier to the HDD industry with its state-of-the-art MCT-8000 alumina deposition equipment used in the production of thin film heads. MeiVac vacuum process components are utilized in a wide array of markets (R&D, HDD, Semiconductor, Solar, and Optical). MeiVac’s innovative products including MAK sputter sources, e-Vap® evaporation sources, HTR substrate heaters, and VQ throttle valves are supported through a global distribution network. For additional information about MeiVac’s products, visit the company’s website at www.meivac.com.

 

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SOURCE Ferrotec (USA) Corporation

Stamford, CT, Dec. 8, 2020 /PRNewswire/ — ReneSola Ltd (“ReneSola Power” or the “Company”) (www.renesolapower.com) (NYSE: SOL), a leading fully integrated solar project developer, today announced that management will be presenting at the 13^th Annual LD Micro Main Event Conference on Monday, December 14, 2020 at 1:40 PM EST.

Interested parties can register to attend the conference at the following link: https://ve.mysequire.com/.

The Main Event will feature a new and unique format, with companies presenting for 10 minutes, followed by 10 minutes of Q&A by a panel of investors and analysts.

About ReneSola Power

ReneSola Power (NYSE: SOL) is a leading global solar project developer and operator. The Company focuses on solar power project development, construction management and project financing services. With local professional teams in more than 10 countries around the world, the business is spread across a number of regions where the solar power project markets are growing rapidly, and can sustain that growth due to improved clarity around government policies. The Company’s strategy is to pursue high-margin project development opportunities in these profitable and growing markets; specifically, in the U.S. and Europe, where the Company has a market-leading position in several geographies, including Poland, Hungary, Minnesota and New York.

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SOURCE ReneSola Ltd.

WASHINGTON, Dec. 8, 2020 /PRNewswire/ — Danaher Corporation (NYSE: DHR) announced today that its Board of Directors has approved a regular quarterly cash dividend of $0.18 per share of its common stock, payable on January 29, 2021 to holders of record on December 28, 2020. In addition, the Board of Directors has approved a quarterly cash dividend of $11.875 per share of its 4.75% Series A Mandatory Convertible Preferred Stock, payable on January 15, 2021 to holders of record on December 31, 2020. The Board of Directors has also approved a quarterly cash dividend of $12.50 per share of its 5.00% Series B Mandatory Convertible Preferred Stock, payable on January 15, 2021 to holders of record on December 31, 2020.

ABOUT DANAHER
Danaher is a global science and technology innovator committed to helping its customers solve complex challenges and improving quality of life around the world. Its family of world class brands has leadership positions in the demanding and attractive health care, environmental and applied end-markets. With more than 20 operating companies, Danaher’s globally diverse team of more than 67,000 associates is united by a common culture and operating system, the Danaher Business System, and its Shared Purpose, Helping Realize Life’s Potential.  For more information, please visit www.danaher.com.

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SOURCE Danaher Corporation

ERIE, Pa., Dec. 8, 2020 /PRNewswire/ — At its regular meeting held Dec. 8, 2020, the Board of Directors of Erie Indemnity Company (NASDAQ: ERIE) set the management fee rate charged to Erie Insurance Exchange, approved an increase in shareholder dividends and declared the quarterly dividend and a special cash dividend.  Erie Indemnity Company has paid regular shareholder dividends since 1933.

The Board agreed to maintain the current management fee rate paid to Erie Indemnity Company by Erie Insurance Exchange at 25 percent, effective Jan. 1, 2021. The management fee rate was 25 percent for the period Jan. 1 through Dec. 31, 2020. The Board has the authority under the agreement with the subscribers (policyholders) at Erie Insurance Exchange to set the management fee rate at its discretion; however, the maximum fee rate permissible by the agreement is 25 percent. This action was taken based on the Board’s consideration and review of the relative financial positions of Erie Insurance Exchange and Erie Indemnity Company.

The Board also agreed to increase the regular quarterly cash dividend from $0.965 to $1.035 on each Class A share and from $144.75 to $155.25 on each Class B share. This represents a 7.3 percent increase in the payout per share over the current dividend rate. The next regular quarterly dividend is payable Jan. 20, 2021, to shareholders of record as of Jan. 5, 2021, with a dividend ex-date of Jan. 4, 2021.

The Board also declared a special one-time cash dividend of $2.00 on each Class A share and $300.00 on each Class B share.  This special cash dividend is payable Dec. 29, 2020, to shareholders of record as of Dec. 21, 2020, with a dividend ex-date of Dec. 18, 2020.

About Erie Insurance

According to A.M. Best Company, Erie Insurance Group, based in Erie, Pennsylvania, is the 11th largest homeowners insurer and 12th largest automobile insurer in the United States based on direct premiums written and the 16th largest property/casualty insurer in the United States based on total lines net premium written. The Group, rated A+ (Superior) by A.M. Best Company, has nearly 6 million policies in force and operates in 12 states and the District of Columbia. Erie Insurance Group is a FORTUNE 500 company.

News releases and more information about Erie Insurance Group are available at www.erieinsurance.com.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995:

Statements contained herein that are not historical fact are forward-looking statements and, as such, are subject to risks and uncertainties that could cause actual events and results to differ, perhaps materially, from those discussed herein.  Forward-looking statements relate to future trends, events or results and include, without limitation, statements and assumptions on which such statements are based that are related to our plans, strategies, objectives, expectations, intentions, and adequacy of resources.  Examples of forward-looking statements are discussions relating to premium and investment income, expenses, operating results, and compliance with contractual and regulatory requirements.  Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict.  Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements.  Among the risks and uncertainties, in addition to those set forth in our filings with the Securities and Exchange Commission, that could cause actual results and future events to differ from those set forth or contemplated in the forward-looking statements include the following:

• potential impacts of the COVID-19 pandemic on the growth and financial condition of the Erie Insurance Exchange (“Exchange”);
• potential impacts of the COVID-19 pandemic on our operations, the business operations of our customers and/or independent agents, or our third-party vendor operations;
• dependence upon our relationship with the Exchange and the management fee under the agreement with the subscribers at the Exchange;
• dependence upon our relationship with the Exchange and the growth of the Exchange, including:
• general business and economic conditions;
• factors affecting insurance industry competition;
• dependence upon the independent agency system; and
• ability to maintain our reputation for customer service;
• dependence upon our relationship with the Exchange and the financial condition of the Exchange, including:
• the Exchange’s ability to maintain acceptable financial strength ratings;
• factors affecting the quality and liquidity of the Exchange’s investment portfolio;
• changes in government regulation of the insurance industry;
• emerging claims and coverage issues in the industry; and
• severe weather conditions or other catastrophic losses, including terrorism;
• costs of providing policy issuance and renewal services to the Exchange under the subscriber’s agreement;
• ability to attract and retain talented management and employees;
• ability to ensure system availability and effectively manage technology initiatives;
• difficulties with technology or data security breaches, including cyber attacks;
• ability to maintain uninterrupted business operations;
• factors affecting the quality and liquidity of our investment portfolio;
• our ability to meet liquidity needs and access capital; and
• outcome of pending and potential litigation.

A forward-looking statement speaks only as of the date on which it is made and reflects our analysis only as of that date.  We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changes in assumptions, or otherwise.  

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SOURCE Erie Indemnity Company