Dividends • The Hyflux board of directors has recommended an interim dividend of S$0.67 per ordinary share. This is equivalent to the interim dividend for the same period last year of S$1.00 per ordinary share, adjusted for the bonus shares issued in December 2010. www.hyflux.com • A dividend of US$0.55 per share on 3M’s common stock for the third quarter of 2011 was paid on 12 September 2011, to shareholders of record on 19 August 2011. 3M, the parent company of Cuno Inc, has paid dividends to its shareholders without interruption for 95 years. As of 30 June 2011, 3M had 709 535 731 common shares outstanding and 102 341 shareholders of record. www.3M.com • Nalco, which is set to merge with Ecolab, has declared a quarterly cash dividend payment of US$0.035 per share, which will be paid on 4 October 2011 to shareholders of record on 15 September 2011 (see Filtration Industry Analyst, July 2011). www.nalco.com • The ITT Corp board has approved a cash dividend of US$0.25 per share for the third quarter of 2011 which will be payable on 1 October 2011 to shareholders of record on 26 August 2011. www.itt.com • For the six months ended 30 June 2011, the directors of Amiad Water Systems Ltd (formerly Amiad Filtration Systems Ltd – see News, page 16) have decided on a dividend of US$0.049 gross per share (H1 2010: US$0.02 gross per share), with an ex dividend date of 21 September 2011, a record date of 23 September 2011 and a payment date of 11 October 2011. www.amiad.com • The Pall Corp board has declared a dividend of US$0.175 per share. The dividend is payable on 3 November 2011 to shareholders of record at the close of business on 13 October 2011. www.pall.com • The GE board has declared a US$0.15 per share dividend on the outstanding common stock of the company payable on 25 October 2011 with a record date of 19 September 2011 and an exdividend date of 15 September 2011. www.ge.com 6
Filtration Industry Analyst
Ahlstrom starts share buyback
hlstrom Corp’s board of directors has decided to repurchase Ahlstrom shares for the implementation of the company’s share-based incentive plan. A maximum of 250 000 shares will be acquired corresponding to about 0.54% of the total number of shares and votes. The repurchases will decrease the distributable capital and reserves. Ahlstrom currently holds 19 005 of its own shares, which accounts for approximately 0.04% of the shares and votes. The share repurchases will start on 22 September 2011 at the earliest, and finish by the end of the next Annual General Meeting on 3 April 2012 at the latest. The shares will be acquired through public trading on the NASDAQ OMX Helsinki exchange at the market price prevailing at the time of repurchase. Evli Bank plc will act as stockbroker for the repurchase. Ahlstrom’s board is authorised to acquire 4 million of the company’s own shares before the end of the 2012 Annual General Meeting. For further information, visit www.ahlstrom.com
H&V secures R&D grant from the state of Virginia
ollingsworth & Vose Co has been awarded a US$750 000 grant from the Virginia Tobacco Commission to be used for research and development in a number of filtration markets. The Tobacco Commission promotes economic revitalisation of tobacco dependent regions by providing grant funding to organisations in Virginia engaged in applied research with significant commercialisation potential. For further information, visit www.hollingsworth-vose.com
Alfa Laval India to delist
lfa Laval is proposing to buy all outstanding shares in Alfa Laval
India Ltd and to delist its shares from the Bombay Stock Exchange and the National Stock Exchange of India. The proposal follows regulatory changes in India which require Alfa Laval India Ltd to have a minimum public float of 25%, or seek delisting. At present, Sweden’s Alfa Laval holds 88.8% of the share capital of Alfa Laval India, meaning the public float is 11.2%. Alfa Laval wants to achieve full ownership of the subsidiary, which will give it increased operational flexibility to support the business. Parent company Alfa Laval has requested that the board of directors of Alfa Laval India Ltd take all actions required under the delisting regulations, including convening a meeting of the shareholders to consider the delisting proposal. The delisting process is expected to take approximately three months. For further information, visit www.alfalaval.com.al.
Xylem commits to ITT philanthropy programmes
TT Corp says that Xylem, its new water business, will continue to support the Watermark programme and sponsor the Stockholm Junior Water Prize (SJWP). ITT is spinning off its water and defence businesses by the end of this year. The new water company, Xylem, will continue ITT’s work with Watermark partners– Water For People, Mercy Corps and China Women’s Development Foundation – to bring safe water, sanitation and hygiene education to the developing world and to protect safe water resources before and after disasters strike. Launched in 2008 to provide safe water and sanitation to 300 schools in China, India, Honduras and Guatemala, the Watermark program will continue as Xylem Watermark, and the new company expects to fulfill the renewed commitment announced by ITT in 2010, pledging US$10.5 million from 2011 to 2013 to serve one million more people around the world. Xylem will also continue to promote water education through the company’s partnership with the Stockholm International Water Institute and its global sponsorship of the Stockholm Junior Water Prize.
For further information, visit www.itt.com