Arrow-right Camera
News >  Business

Ambassadors Group plans to issue dividend

Ambassadors Group Inc. will issue a six-cent per share dividend on Dec. 6, the company announced Monday. The dividend applies to all shares owned by investors as of Nov. 23. Traded on the Nasdaq, Ambassadors was recently named by Dividend Channel as one of the top 25 “dividend stocks.”That report said that the company’s shares displayed “attractive valuation metrics and strong profitability metrics.”

It noted that its share price of $4.61 represents a price-to-book ratio of 1.0 but an annual dividend yield of 5.21 percent, one of the better rates among competitors.

The report also cited Ambassador Group’s “strong quarterly dividend history.”

Staff report

U.S. on track to be largest oil producer

The U.S. will become the world’s top producer of oil within five years, a net exporter of the fuel around 2030 and nearly self-sufficient in energy by 2035, according to a new report from the International Energy Agency.

It’s a bold set of predictions for a nation that currently imports some 20 percent of its energy needs. Recently, however, an “energy renaissance” in the U.S. has caused a boost in oil, shale gas and bioenergy production due to new technologies such as hydraulic fracturing, or fracking. Fuel efficiency has improved in the transportation sector. The clean energy industry has seen an influx of solar and wind efforts.

By 2015, U.S. oil production is expected to rise to 10 million barrels per day and increase to 11.1 million barrels per day by 2020, overtaking second-place Russia and front-runner Saudi Arabia, according to the IEA’s World Energy Outlook. The U.S. will export more oil than it brings into the country in 2030, the report said. Around 2030, however, Saudi Arabia is expected to be producing some 11.4 million barrels of oil per day, outpacing the 10.2 million from the U.S., the IEA report said. In 2035, U.S. production will slip to 9.2 million barrels per day, far behind the Middle Eastern nation’s 12.3 million daily barrels.

Los Angeles Times

Microsoft Windows president leaving

REDMOND, Wash. – Microsoft Corp. said Monday that Steven Sinofsky, the president of its Windows and Windows Live operations, is leaving the company.

Sinofsky’s departure comes just weeks after the Redmond, Wash., software company launched Windows 8, which represented a major overhaul of its ubiquitous computer operating system.

Microsoft Corp. said Monday it has promoted company veteran Julie Larson-Green to lead all its Windows software and hardware engineering. Tami Reller will take over responsibility for the Windows business, while retaining her posts as chief financial officer and chief marketing officer.

The company didn’t say why Sinofsky is leaving. In a statement, Microsoft CEO Steve Ballmer expressed gratitude for Sinofsky’s contribution to the company. He indicated the need for the company to further integrate its array of offerings as it begins what he called “a new era at Microsoft.”

Associated Press

Ex-Williams-Sonoma exec joining Best Buy

NEW YORK – Struggling consumer electronics chain Best Buy said Monday that a former Williams-Sonoma executive will become its new chief financial officer beginning Dec. 10.

Sharon McCollam, 50, had been chief operating officer and chief financial officer at the home goods retailer before retiring. She also takes the title of chief administrative officer at Best Buy. She replaces James Muehlbauer.

Associated Press