Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.

2008 West
DIAMOND SPONSOR:
Data Direct
SOA, WOA and Cloud Computing: The New Frontier for Data Services
PLATINUM SPONSORS:
Red Hat
The Opening of Virtualization
GOLD SPONSORS:
Appsense
User Environment Management – The Third Layer of the Desktop
Cordys
Cloud Computing for Business Agility
EMC
CMIS: A Multi-Vendor Proposal for a Service-Based Content Management Interoperability Standard
Freedom OSS
Practical SOA” Max Yankelevich
Intel
Architecting an Enterprise Service Router (ESR) – A Cost-Effective Way to Scale SOA Across the Enterprise
Sensedia
Return on Assests: Bringing Visibility to your SOA Strategy
Symantec
Managing Hybrid Endpoint Environments
VMWare
Game-Changing Technology for Enterprise Clouds and Applications
Click For 2008 West
Event Webcasts

2008 West
PLATINUM SPONSORS:
Appcelerator
Get ‘Rich’ Quick: Rapid Prototyping for RIA with ZERO Server Code
Keynote Systems
Designing for and Managing Performance in the New Frontier of Rich Internet Applications
GOLD SPONSORS:
ICEsoft
How Can AJAX Improve Homeland Security?
Isomorphic
Beyond Widgets: What a RIA Platform Should Offer
Oracle
REAs: Rich Enterprise Applications
Click For 2008 Event Webcasts
SYS-CON.TV
Today's Top SOA Links


Heritage Bankshares, Inc. Announces Special Dividend, Modification of Share Repurchase Program

NORFOLK, Va., Dec. 7, 2012 /PRNewswire/ -- Heritage Bankshares, Inc. ("Heritage"; the "Company") (OTCQB:  HBKS), the parent of Heritage Bank (the "Bank"), today announced that its Board of Directors has declared a special cash dividend on the Company's common stock of $0.36 per share.  The special dividend will be paid on December 26, 2012 to shareholders of record on December 17, 2012.

The Board currently contemplates that the special dividend will consist of (a) an acceleration of – and payment in lieu of – total aggregate dividends of $0.24 per share that the Company would have otherwise expected to announce and pay in quarterly installments during the 2013 calendar year and (b) an additional amount of $0.12 per share.

The Company also announced that its Board of Directors has reallocated some of the funds previously set aside for use with its existing share repurchase program and, as a result, consistent with the Company's rights under the program, approved a corresponding reduction in the maximum number of shares of common stock that can be repurchased under the program from 116,000 shares to approximately 48,000 shares.  To date, the Company has repurchased 30,000 shares of its common stock under the repurchase program; accordingly, with this reduction, a little less than 18,000 shares of common stock remain available for repurchase under the program.  Except for this reduction in the maximum number of shares that may be repurchased, the other terms and conditions of the program – which was recently extended through March 31, 2013 – have not been amended.

Michael S. Ives, President & Chief Executive Officer of the Company and the Bank, commented:  "Given the unusual circumstances of the fiscal cliff and uncertainty surrounding federal tax treatment of dividends, we believe that payment of this special dividend of $0.36 per share – which includes a complete acceleration of dividends we would have otherwise expected to pay in 2013 – is in the best interest of our shareholders.  It allows us to return capital to our shareholders now so that they can benefit from the lower dividend tax rate that is currently set to expire at the end of the year, while also preserving our conservative capital structure and strong balance sheet.  Further, we believe the remaining 'headroom' under our share repurchase program provides sufficient potential opportunity for smaller shareholders who may be seeking current liquidity and, coupled with the special dividend, should result in an attractive value proposition for our shareholders."

About Heritage

Heritage is the parent company of Heritage Bank (www.heritagebankva.com).  Heritage Bank has four full-service branches in the city of Norfolk, two full-service branches in the city of Virginia Beach, and one full service branch in the city of Chesapeake.

Forward Looking Statements

The press release contains statements that constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended.  Forward-looking statements address future events, developments or results and typically use words such as believe, anticipate, expect, intend, plan, forecast, outlook, or estimate.  Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Heritage's actual results, performance, achievements, and business strategy to differ materially from the anticipated results, performance, achievements or business strategy expressed or implied by such forward-looking statements.  Factors that could cause such actual results, performance, achievements and business strategy to differ materially from anticipated results, performance, achievements and business strategy include:  general and local economic conditions, competition, significant increases in capital requirements or other significant changes in regulatory requirements, customer demand for Heritage's banking products and services, and the risks and uncertainties described in Heritage's most recent Form 10-K filed with the Securities and Exchange Commission.  Heritage disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Heritage Bankshares, Inc.

About PR Newswire
Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Web 2.0 Latest News
So congratulations, somehow you've managed to wangle your way onto one of the many DevOps conferences being held around the world. Why not you might say? DevOps is not only hot it's the approach many enterprises are now exploring as the means to help accelerate the delivery of high qua...
Change is constant, and over the last decade the nexus of two trends in particular has transformed the enterprise. Mobile technology and cloud software are fundamentally changing the way we interact internally within businesses, and externally with partners and customers. Never befor...
What does the data landscape look like at Facebook with its 1.3 billion users across the globe? They classify small data referring to OLTP-like queries that process and retrieve a small amount of data, usually 1-1000 objects requested by their …
If you thought the Bring Your Own Device (BYOD) craze was a headache, just wait until button cameras, smart watches, and spy glasses (already here) are a daily occurrence in the office. Workplace #Wearables will be a huge challenge in the coming years as more devices, clothing and pret...
It does not take much to understand the benefits of the DevOps culture, processes, and tools. However, implementing DevOps in your organization is not as obvious and usually involves more than simply setting up tools. You have to convince team members, map old processes to new, and ma...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021




SYS-CON Featured Whitepapers
ADS BY GOOGLE