April 19, 2007 in Business

Company to pay bigger dividend

The Spokesman-Review

Northwest Bancorporation Inc. announced Wednesday an annual cash dividend of 18 cents per share, payable on June 15. The Spokane-based parent of Inland Northwest Bank also declared a 5 percent stock dividend payable in common stock on the same date.

This is the fifth cash dividend and the 12th stock dividend paid to shareholders since 1989, the year INB opened for business, according to a company news release.

A 28 percent increase in earnings in 2006 prompted the company to increase the cash dividend from 16 cents to 18 cents, the release said. The cash dividend represents about 15 percent of 2006 earnings, said Randall Fewel, president and CEO.

INB has 10 branches spread over Spokane and Kootenai counties and in Walla Walla. Two additional branches, in Hayden and Spirit Lake, are expected to open later this year, the company said in a news release.

Holidays good for city, county

Retail trade figures released Wednesday show the holidays turned out to be prosperous for businesses in Spokane and Spokane County, according to the Washington state Department of Revenue.

The city of Spokane turned in fourth quarter taxable retail sales of just over $1 billion, up 10 percent from the same time last year.

Spokane County’s sales rose to nearly $2 billion, a nearly 10 percent jump.

Construction, automobiles, electronics and appliances, apparel, mail-order and e-commerce, accommodations, and dining all contributed to the upsurge.

Statewide, total taxable retail sales increased close to 7 percent, totaling $29.3 billion during the last three months of 2006, compared to $27.5 billion a year earlier.


Boeing sells 30 more 787s

Boeing Co. has quietly added 30 fuel-efficient 787 jets to its order book, but it’s not identifying the customer.

The order, added to Boeing’s Web site last week, was for 30 787-8s worth an estimated $4.6 billion at list prices, Peter Conte, a spokesman at Boeing’s Seattle-based commercial airplane headquarters, said Wednesday.

Conte said the latest company to buy the hot-selling 787 asked to remain unidentified, but that he expects the customer to make the order public in the near future. “That could be in a matter of weeks or months,” Conte said.

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