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Corporate Report: August 24

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  • | 9:38 a.m. August 24, 2012
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Nicholas Financial board grows cash dividend by 20%
The board of directors of Clearwater-based Nicholas Financial Inc. has declared a cash dividend of 12 cents per share of its common stock. It represented a 20% increase in the stock dividend from its previous dividend of 10 cents per share. The dividend will be paid on Sept. 6, to shareholders of record as of Aug. 30.

“Our capital position and continued confidence in our earnings capability played a large part in the Board of Director's decision to increase our quarterly cash dividend 20% from 10 cents to 12 cents per share,” Peter Vosotas, chairman and CEO, says in a press release. “The dividend yield, based on the most recent closing price of $13.44, will be approximately 4%.”

The company reported its revenue grew 3.9% for the most recent quarter, ended June 30, to $17.28 million up from $16.63 million in the same quarter a year ago. Earning grew 1.3% or $71,000 to $5.37 million from $5.3 million in 2011.

BMO Harris Dealership Finance hires former SunTrust executive
Chicago-based BMO Harris is expanding its dealership finance team into Florida with the hiring of Steve Gagnon as director of commercial dealership finance for Florida.

The BMO Harris Dealership Finance team already has offices in Chicago, Milwaukee, Minneapolis, Indianapolis, Kansas City, Mo., St. Louis, Joliet, Ill., and Crown Point, Ind. BMO Harris' parent company, BMO Financial Group, has been providing financial services to auto dealers for the past 35 years.

Gagnon has 17 years of dealership finance experience. He spent almost 10 years at SunTrust Bank, where he rose to the position of senior vice president/relationship manager, a role in which he was responsible for the ongoing management, maintenance and growth of its franchised auto dealership commercial loan portfolios. He also had previous dealership-related roles at Bank of America, JM Family Enterprises and Ford Motor Credit Co.

“The financial needs of auto dealers in Florida continue to grow, and Steve's experience, local market knowledge and passion for providing a great customer experience will ensure that their needs are met,” Ghram Debes, senior vice president and head of dealership finance for BMO Harris Bank says in a press release.

TJR Global reaches deal to sell HellermannTyton products
Tampa-based TJR Global has reached a new authorized and distribution relationship with HellermannTyton, a manufacturer of cable and wire management products. The Milwaukee-headquartered company specializes in product lines serving the telecommunications, medical and industrial/production sectors. Its product lines include cable ties, clamps, clips, cable mounts, wire connectors, wire protection systems, as well as both copper and fiber-based network connectivity solutions.

Through its new authorized distribution agreement, TJR Global will provide HellermannTyton products to customers in North America, Mexico and South America.

“HellermannTyton is a proven and demanded line that appears consistently on our customers' bill of materials and reports,” Tim Johnson, director of operations at TJR Global, says in a press release. “With both commodity-level products as well as value added offerings under the HellermannTyton umbrella, TJR Global is better positioned to offer an increased level of service to our current and future customers.”

Gettel Automotive Group opens pre-owned Super Center
Gettel Automotive Group has opened a pre-owned Super Center at 2601 First St. E., Bradenton.

Dealership chain CEO Jim Gettel says he saw an opening in the marketplace for a comprehensive location for shoppers looking for lower-priced vehicles.

The new dealership will also include the website

The Bradenton-based Gettel Automotive Family of Dealerships owns nine franchises and has dealerships in Bradenton, Gainesville, Ocala and Sarasota.

As Seen On TV Inc. hires Girl Next Door spokeswoman
Clearwater-based As Seen On TV Inc. signed an endorsement agreement with Holly Madison. The realty show celebrity agreed to act as spokeswoman in advertisements and on live television shopping channels to promote and sell As Seen On TV products. The company says it will be announcing new product collaborations over the next several months.

Madison is best known as one of Hugh Hefner's three girlfriends in the Playboy mansion focused realty show “The Girls Next Door” and later her own show “Holly's World.” She also served as a correspondent on the entertainment news program EXTRA. She is currently headlining the burlesque show “Peepshow” at Las Vegas' Planet Hollywood Hotel and Casino.

“We are very excited to be working with such a talented and recognized personality such as Holly,” Steve Rogai, CEO of As Seen On TV Inc., says in a press release. “With her business-savvy outlook, Holly's appeal and exposure has captured the attention of millions of people worldwide. We look forward to working together to develop, market and sell numerous products.”

Sunovia Energy Technologies renamed Evolucia Inc.
Sarasota-based Sunovia Energy Technologies Inc. has changed its corporate name to Evolucia Inc. and its stock ticker from SUNV to FINRA.

The company says its new name and ticker underscores the company's focus on the development and commercialization of high performance LED lighting systems.

“This is one of our first steps in the total rebranding and refocusing of the company and its product mix,” Evolucia CEO Mel Interiano says in a press release. “It makes sense to tie product and corporation under one brand and use a stock ticker that addresses our core business: intelligent LED lighting systems.”


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