The hotel REIT had been exploring the option of merging Apple REITs Six, Seven, Eight and Nine and taking the combined entity public. It has put that idea on hold, the company reported.
Apple REIT Nine’s shareholders will receive a dividend of $0.75 per share from the proceeds of the REIT’s recent sale of natural gas fields in Texas. The REIT received $198.4 million from the sale, $136.1 million of which will be paid as distributions to shareholders of record on May 11.
Chief Administrative Officer Frank T. Lennon announced that he will retire Sept. 1. Lennon has been with the company for 35 years.
Richard Smith, chief information officer, sold 13,500 shares for $30.04 each, a total of $405,540. Smith still owns more than 120,000 shares.
Community Bankers Trust (BTC)
The holding company for Essex Bank said it would pay $442,000 in TARP dividends to the U.S. Treasury as part of the TARP Capital Purchase Program. The payment consists of two quarterly dividends that the company previously was unable to pay. It still has $1.1 million in unpaid back dividends owed. It had to receive approval from regulators to pay the dividends because it is under written agreement.
The company’s non-employee directors each received an annual stock retainer of 1,928 shares with a price of $51.87 per share, or approximately $100,000.
First Capital Bancorp (FCVA)
The parent of First Capital Bank released more details on its recent $17.8 million capital raise. The company’s existing shareholders purchased $8 million worth of stock during the raise. Kenneth R. Lehman, a private investor from Arlington County, purchased 4.9 million shares at $2 each for a total of $9.8 million.
As part of the capital raise, the company’s directors and executives each purchased shares at $2 each. CEO John Presley bought 149,971 shares for a total of approximately $300,000. Bob Watts, chief executive of the company’s bank subsidiary, bought 18,350 shares for a total of $36,000.
Genworth Financial (GNW)
Interim chief executive Martin Klein acquired 15,000 shares for $5.60 each. He now owns more than 20,000 shares.
Director Thomas Moloney bought 1,000 shares at $5.83 each. He now owns 4,000 shares.
Owens & Minor (OMI)
G. Gilmer Minor III, a director, sold 26,293 shares at $28.48 each for a total of $748,000. He still owns more than 100,000 shares.
Xenith Bankshares (XBKS)
Michael Mancusi, a director, bought 2,000 shares at $4.04 each. He now owns 7,000 shares.
Director Palmer Garson bought 5,000 shares for $4 each. Garson owns more than 45,000 shares.
Director Scott Reed bought 3,000 shares at $4.10 per share. He now owns more than 20,000 shares.