GREENSBORO, N.C., May 14, 2015 /PRNewswire/ -- Lorillard, Inc.
(NYSE:LO), the third largest tobacco company in the United States, announced today the
declaration of a quarterly dividend on its common stock in the
amount of $0.66 per share. The
dividend is payable on June 10, 2015
to stockholders of record as of the close of business on
June 1, 2015.
As previously announced, on July 15,
2014, Lorillard and Reynolds American Inc. ("Reynolds")
entered into a definitive agreement in which Lorillard agreed to be
acquired by Reynolds in a cash-and-stock transaction. The
transaction remains subject to regulatory approval and the
additional customary closing conditions contained in the merger
agreement. Although no assurance can be given if and when the
transaction will be completed because it remains subject to
regulatory approval and other customary conditions, the transaction
is expected to close in the first half of 2015.
If the transaction is completed after the record date, Lorillard
will pay the dividend to stockholders as of the record date.
If the transaction is completed on or before the record date, the
dividend will not be paid.
About Lorillard, Inc.
Lorillard, Inc. (NYSE: LO), through its Lorillard Tobacco
Company subsidiary, is the third largest manufacturer of cigarettes
in the United States. Founded in 1760, Lorillard Tobacco is
the oldest continuously operating tobacco company in the U.S.
Newport, Lorillard's flagship
premium cigarette brand, is the top selling menthol and second
largest selling cigarette in the U.S. In addition to
Newport, the Lorillard product
line has four additional cigarette brand families marketed under
the Kent, True, Maverick and Old Gold brand names. These five
brands include 43 different product offerings which vary in price,
taste, flavor, length and packaging. Lorillard, through its
other subsidiaries, is also a leading global electronic cigarette
company, marketed under the blu eCigs and SKYCIG brands.
Newport, Kent, True, Maverick, Old
Gold, blu eCigs and SKYCIG are the registered trademarks of
Lorillard and its subsidiaries. Lorillard maintains its
corporate headquarters and manufactures all of its traditional
cigarette products in Greensboro, North
Carolina.
Forward-Looking Statements
Certain statements made in this press release are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, or the Reform Act.
Forward-looking statements include, without limitation, any
statement that may project, indicate or imply future results,
events, performance or achievements, and may contain the words
"expect," "intend," "plan," "anticipate," "estimate," "believe,"
"may," "will be," "will continue," "will likely result" and similar
expressions. In addition, any statement that may be provided by
management concerning future financial performance (including
future revenues, earnings or growth rates), ongoing business
strategies or prospects and possible actions by Lorillard, Inc. are
also forward-looking statements as defined by the Reform Act.
Forward-looking statements are based on current expectations and
projections about future events and are inherently subject to a
variety of risks and uncertainties, many of which are beyond our
control, that could cause actual results to differ materially from
those anticipated or projected. Information describing factors that
could cause actual results to differ materially from those in
forward-looking statements is available in Lorillard, Inc.'s
filings with the Securities and Exchange Commission (the "SEC"),
including but not limited to, our Annual Report on Form 10-K and
Quarterly Reports on Form 10-Q. These filings are available
from the SEC over the Internet or in hard copy, and are available
on our website at www.lorillard.com. Forward-looking statements
speak only as of the time they are made, and we expressly disclaim
any obligation or undertaking to update these statements to reflect
any change in expectations or beliefs or any change in events,
conditions or circumstances on which any forward-looking statement
is based.
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SOURCE Lorillard, Inc.