Economic Development
Orion board authorizes stock repurchase plan
Manitowoc-based Orion Energy Systems Inc. announced its board of directors has approved a share repurchase program, authorizing the company to repurchase in the aggregate up to $1 million of its outstanding common stock.
Northwestern Mutual to pay nearly $5 billion in dividends
The Board of Trustees for Milwaukee-based Northwestern Mutual Life Insurance Co. has approved a dividend payout of nearly $5 billion for participating policy owners for 2012, an increase of more than $125 million over its expected 2011 payout. It will be the second-largest payout in the company’s history.
Magnetek receives conditional IRS approval of pension funding waiver
Menomonee Falls-based Magnetek Inc. announced that it has received conditional approval of its request for a waiver of the minimum funding requirements of the company’s defined benefit pension plan for the 2011 plan year.
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Modine’s revival picks up speed
Racine-based Modine Manufacturing Inc. reported fiscal second quarter net earnings of $1.4 million, or 3 cents per share, compared to a net loss of $16.7 million, or 36 cents per share, in the same period a year ago.
Johnson Controls caps record quarter
Johnson Controls Inc. reported record fiscal fourth quarter net income of $538 million, or 78 cents per share, up from $449 million, or 66 cents per share, in the same period a year ago.
First Business Bank reports strong quarter
First Business Financial Services Inc., the Madison-based parent company of First Business Bank-Milwaukee, reported third quarter net income of $2.2 million, or 83 cents per share, up from $969,000, or 38 cents per share, for the third quarter of 2010.
