Orlando, FL -- (SBWIRE) -- 09/25/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Oi SA (ADR) (NYSE:OIBR), Hartford Financial Services Group Inc (NYSE:HIG).
Oi SA (ADR) (NYSE:OIBR) shares gained 5.53% to $2.29. The company on Sept. 18 discloses to its shareholders and the market in general that the Board of Directors, at a meeting held on September 18, 2013, approved the payment of interim dividends, in the total aggregate amount of R$500,000,000.00 (five hundred million reais), equivalent to R$ 0.304872909998 per common and preferred share, which will be allocated to our income reserve account and considered as part of the dividends that we are required to pay for the 2013 fiscal year under Brazilian law.
The payment will be made as of October 11, 2013, based on the shareholding position of September 27, 2013. Beginning on September 30, 2013, inclusive, all shares will be traded ex-dividend.
Additionally, the company on August 15 announced an unexpected loss and reduction of its dividend payment. The company’s net loss was BRL124.2 million in the second quarter. The data compiled by Bloomberg showed that the said quarter is Oi's initial unprofitable period. The company also announced it will no longer issue guidance due to macroeconomic uncertainty.
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Hartford Financial Services Group Inc (NYSE:HIG) shares gained 1.65% to $31.42 in the last trading session. Christopher J. Swift, executive vice president and chief financial officer of The Hartford, will be presenting at the KBW Insurance Conference on Thursday, September 26, 2013 at approximately 11:05 a.m. EDT.
Additionally, on September 20, 2013, The Hartford Financial Services Group, Inc. filed a Certificate of Elimination with the Secretary of State of Delaware effecting the elimination of the Certificates of Designations, Preferences and Rights of the Company's Series B Non-Voting Contingent Convertible Preferred Stock (the "Series B Preferred Stock"), Series C Non-Voting Contingent Convertible Preferred Stock (the "Series C Preferred Stock"), and 7.25% Mandatory Convertible Preferred Stock, Series F (the "Series F Preferred Stock"). As of September 20, 2013, no shares of Series B Preferred Stock, Series C Preferred Stock and Series F Preferred Stock were outstanding. The Certificate of Elimination is attached to this report as Exhibit 3.1 and is incorporated by reference herein.
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