TUPELO – The BancorpSouth board of directors on Wednesday issued a quarterly cash dividend of 22 cents per common share.
The dividend is payable Oct. 1 to shareholders of record at the close of business on Sept. 15.
The news comes a week after the Tupelo-based bank reported a second-quarter loss of $12.6 million, reversing a $33.9 million profit for the same period a year ago. Chairman and CEO Aubrey Patterson said the second-quarter loss was due to increased credit costs.
GULFPORT – Mississippi Power president and CEO Anthony Topazi has been named executive vice president and chief operating officer of Southern Company.
Topazi will have responsibility for Southern Company Generation, Southern Power and Southern Company Transmission.
Edward Day VI will succeed Topazi as president and CEO of Mississippi Power, which provides retail electric service to about 200,000 customers in southeast Mississippi.
COLUMBUS – Zaxby’s, a restaurant chain based in Athens, Ga., will a franchise in Columbus, according to the Columbus Dispatch.
The restaurant, which specializes in fried chicken fingers, wings and sandwiches, does not have an opening date yet. Steve Taylor is the franchisee for the location.
The newspaper said the restaurant will be built near the old Blockbuster location at the intersection of Highway 45 North and 18th Avenue, across from Walgreens.
PHILADELPHIA – Comcast posted second-quarter net income of $884 million, or 31 cents a share, down 6.1 percent versus a year ago. Revenue rose 6.1 percent to $9.5 billion, compared to nearly $9 billion a year ago.
Excluding 2 cents per share of expenses related to the company’s acquisition attempt in NBC Universal, it earned 33 cents per share.
NEW YORK – Two reports that showed the recovery is slowing sent stocks moderately lower. The Federal Reserve, in its regional survey of the economy, said Wednesday manufacturing slowed or leveled off in about half its 12 regions. The Fed report followed news that durable goods orders fell during June.
The Dow fell 39.81, or 0.4 percent, to 10,497.88. The Standard & Poor’s 500 index fell 7.71, or 0.7 percent, to 1,106.13, while the Nasdaq composite index fell 23.69, or 1 percent, to 2,264.56.
Daily Journal, CDispatch.com and wire reports
Dennis Seid/NEMS Daily Journal