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The Board of Directors of UST Inc. (NYSE: UST) today declared a regular quarterly dividend of 63 cents per common share, payable June 30, 2008 to stockholders of record at the close of business June 16, 2008.
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UST Inc. (NYSE: UST) Chairman and Chief Executive Officer Murray S. Kessler will present at the Goldman Sachs & Co. Consumer Products Symposium on May 12, 2008 at 3:50 p.m. Eastern time. The audio portion of the presentation will be webcast live at http://www.ustinc.com. The webcast will be archived for 60 days.
As many expected, a city-wide ban on free sampling of tobacco has led U.S. Smokeless Tobacco to withdraw its placement of a $200,000 scoreboard at the Greeley Stampede.
A major sponsor of the annual Stampede, U.S. Smokeless Tobacco decided this week not to provide the scoreboard this year as they have in the past.
Stampede officials will now need to rent a $25,000 scoreboard for the two-week event and hope sponsors step forward to defray the cost.
"We've made some offers to different companies," said Greeley Stampede CEO Lynn Settje. "At this point we've not gotten any nibbles."
U.S. Smokeless Tobacco spokesman Andrew Lee said Greeley's vote in December to stop free sampling of tobacco in the city played a role in the company's decision.
"The scoreboard is in great demand at events across the country and the folks who run that program have a difficult choice to make as to when and where it will be used," Lee said. "Where we have the ability to responsibly distribute our samples is one factor they have to consider."
As Greeley Stampede officials search for a new scoreboard sponsor for this year's Stampede, U.S. Smokeless Tobacco officials insisted Wednesday they will remain a partial sponsor of the events.
UST has strong sponsorship ties to the Professional Rodeo Cowboys Association, which holds several rodeo events at the Stampede, so their presence at the Stampede will still probably be visible, said Mark Reinert, chairman of the Greeley Stampede Board of Directors.
Reinert said the Stampede committee is trying to find new sponsors to help raise the $25,000 to rent a scoreboard for the 12-day festivities, but that a lot of businesses in the area have already been tapped.
"We've been pursuing renting (a scoreboard) for a long time,"
U.S. Smokeless Tobacco has pulled its sponsorship of the Greeley Stampede and with it a $200,000 scoreboard after Greeley officials decided late last year to ban free sampling of tobacco in the city.
The Greeley City Council passed a citywide ban on the free distribution of tobacco in early December on a contentious 4-3 vote. Opponents of the ban said government shouldn't take the choice to use tobacco out of the public's hands, but proponents insisted that a ban was necessary to protect the health of the public.
Denver and Boulder have similar bans on the free distribution of tobacco as do 390 communities around the nation. But UST still sponsors and is allowed to provide free samples at the Colorado State Fair in Pueblo. It also sponsors the Cheyenne Frontier Days. . . .
Andrew Lee, spokesman for U.S. Smokeless Tobacco said in December that the company "prefers to sponsor events that allow sampling."
Greeley Mayor Ed Clark, who voted against the tobacco sampling ban in December, said Greeley has to support the Stampede after the Council banned tobacco giveaways.
"I think we owe them at least 2,000 bucks," Clark said.
UST Inc. (NYSE: UST) Chairman and Chief Executive Officer Murray S. Kessler and members of his executive team will discuss first quarter results in a live audio webcast at http://www.ustinc.com on Thursday, April 24, 2008 starting at 9 a.m. Eastern time. A press release announcing results will be issued earlier that morning.
During the webcast, Kessler also will answer questions from the investment community. The webcast will be in a listen-only mode.
Analyst Judy E. Hong lowered her rating to "Neutral" from "Buy" and took the stock off the Americas Buy List. She said in a note to investors the shares have "limited upside potential" compared to tobacco competitors Altria Group Inc. and the newly spun-off Philip Morris International Inc.
UST Inc. (NYSE: UST) announced today that two of its executives, Todd A. Walker and Kenneth N. Tamaro, have been promoted and will take on additional responsibilities with the company. Walker, age 41, has been named vice president, government relations and public policy, while Tamaro, age 51, has been appointed treasurer for UST, in addition to his existing responsibilities as vice president, tax.
An independent rodeo promoter pledged today to ban advertising, sponsorships and the distribution of free spit tobacco at all of his events.
Casper Baca, owner of Casper Baca Rodeo Co., which produces 50 rodeos a year throughout the Southwest, signed the "Bucking Tobacco Sponsorship" policy during a ceremony with Lt. Gov. Diane Denish; State Sen. Dede Feldman, D-Albuquerque; Dr. Alfredo Vigil, secretary of the New Mexico Department of Health; and Chris Baca, president and CEO of YDI, a contractor of the Health Department's Tobacco Use Prevention and Control Program. YDI helped Baca develop his anti-tobacco policy.
The president and chief executive of UST Inc., which produces smokeless tobacco products and wine, received compensation valued at $4.4 million in 2007, according to a regulatory filing on Monday.
Murray S. Kessler replaced Vincent A. Gierer as CEO on Jan. 1, 2007. This year, he also succeeded Gierer as chairman.
The U.S. Smokeless Tobacco Manufacturing Company (USSTMC), is holding a free reception and dinner for all dark tobacco growers in Kentucky and Tennessee to recognize their contributions to the local farming economy and communities. The event will be held on Wednesday, March 19, 2008 at 6 p.m. at the James E. Bruce Convention Center; 300 Conference Center Drive, in Hopkinsville.
During the dinner, guest speakers will discuss the bright future of dark tobacco
The Board of Directors of UST Inc. (NYSE: UST) today declared a regular quarterly dividend of 63 cents per common share, payable March 31, 2008 to stockholders of record at the close of business March 14, 2008.
As previously announced, the new quarterly rate represents a five percent increase over the 2007 dividend rate.
Smokeless tobacco and wine producer UST Inc. (NYSE:UST) spent $320,000 in 2007 to lobby the federal government.
The holding company for Skoal tobbaco and Ste. Michelle wines lobbied on various appropriations bills, as well as legislation dealing with small business taxes, Medicare and Medicaid, and tobacco products.
Stamford, Conn.-based UST spent $120,000 lobbying on those issues in the second half of 2007, according to the form posted online Wednesday by the Senate's public records office.
A long anticipated deal by Altria Group Inc to buy smokeless tobacco company UST Inc could be reached within months, but the price remains the toughest sticking point, sources familiar with the potential deal said on Friday.
UST shares closed 5.8 percent higher on Friday amid market speculation a deal was looming, analysts and investors said. Altria stock shed 0.5 percent.
UST and Altria declined to comment.
But the University of Louisville professor's advice on how to do that -- by switching to smokeless tobacco, if things like nicotine patches don't work -- gets plenty of objection from health advocates.
Rodu, who came to U of L from the University of Alabama-Birmingham through the "Bucks for Brains" program, is a leading proponent of "tobacco harm reduction" -- giving nicotine addicts a less dangerous way than smokes to get their fix.
It's a controversial stance made even more controversial by the fact that Rodu's endowed chair at U of L is funded by $1 million from U.S. Smokeless Tobacco Co. and another smokeless tobacco manufacturer, Swedish Match, along with state matching funds.