New book by Larry Connors Click here Improve your trading - See how
"We've made great progress the last several years" in building up Diebold's service businesses in areas such as banking and security, Tom Swidarski, president and CEO, told shareholders at the company's annual meeting.
The meeting took place at the Sheraton Suites hotel on Front Street.
Shareholders nominated nine directors to the board. Longtime board member Louis Bockius III, whose family has strong ties to the company, did not stand for re-election. He first became a director in 1978.
Shareholders also approved a board-sanctioned measure that increases a "change in control" provision. Top executives also get accelerated vesting rights under a change in control.
In fiscal 2008, 51 percent of Diebold's global revenue came from the service side, Swidarski said.
The company reported nearly $3.2 billion in revenue for 2008.
Last year, Diebold for the first time took in more revenue outside the United States than inside, Swidarski said. Business in the United States is still more profitable than outside the nation, he said.
Even with the current economic uncertainty, Diebold has increased its dividend for the 56th consecutive time, he said. It is 26 cents a share per quarter. The increase reflects the company's confidence in its ability to generate cash, he said.
In response to a shareholder's question, Swidarski said the company continues to work with and cooperate with the Securities and Exchange Commission in an ongoing investigation into corporate accounting practices. The company needed to restate earnings as a result of the ongoing investigation.
Shares of Diebold on Thursday fell 23 cents to $25.52. Shares are down 8.2 percent, including reinvested dividends, since Jan. 1 and are down 31.3 percent from a year ago.
A replay of the shareholders' meeting, along with related presentation materials, will be posted on the company Web site, http://www.diebold.com.
Diebold is celebrating its 150th anniversary this year.
Jim Mackinnon can be reached at 330-996-3544 or jmackinnon@thebeaconjournal.com.
To see more of the Akron Beacon Journal, or to subscribe to the newspaper, go to http://www.ohio.com. Copyright (c) 2009, The Akron Beacon Journal, Ohio Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
