Astronics shareholders get 10 percent stock dividend
Astronics Corp. is paying a 10 percent stock dividend to its shareholders, the East Aurora aircraft lighting and electronics manufacturer said Tuesday.
Peter Gundermann, Astronics' chief executive officer, said the stock dividend is a way to reward the company's shareholders, while also increasing the number of shares in circulation.
Shareholders will receive one share of Astronics Class B stock for every 10 shares of Class A stock that they own.
The Class B shares, which automatically convert to Class A shares if they are traded, have 10 times the voting power of Class A shares.
The additional shares will be distributed Aug. 30 to shareholders of record on Aug. 16.
The stock distribution is the fifth that Astronics has made since 1988 and its first since 2008.
Swim store opening Friday
The Deep End, a woman-owned swim and sportswear company based in Rochester, will open a retail location Friday in Cheektowaga.
The 1,125-square-foot store will be located in the Union Center East plaza at 3901 Union Road.
It will carry brands such as Speedo, TYR, Dolfin and Nike.
The company, which outfits team and individual swimmers throughout New York, was opened in 2000 by "swim mom" Barbara Anzalone.
In addition to Rochester, the Deep End has locations in Albany and Webster.
Columbus McKinnon taps 2
Columbus McKinnon, an Amherst-based maker of material-handling equipment, has announced two executive appointments.
Karen L. Howard, currently vice president for finance and chief financial officer, was named vice president for strategic initiatives. Gregory P. Rustowicz, who has 20 years of experience with PPG Industries, was named to succeed Howard as CFO.
Both appointments are effective Monday.
US Airways to refund tax
TEMPE, Ariz. (AP) -- US Airways Group says it will offer direct refunds of ticket taxes that travelers paid before the taxes lapsed on July 23.
The taxes can add up to $60 or more on a $300 round-trip ticket. They stopped when the Federal Aviation Administration partially shut down. Travelers who bought tickets before the shutdown but flew during it are due a refund.
Toyota turns small profit
TOKYO (AP) -- Toyota eked out a $14 million quarterly profit and raised its annual earnings forecast Tuesday as it mounts a comeback from the devastation of the earthquake and tsunami in northeastern Japan.
Toyota now expects to sell 7.6 million vehicles worldwide, up from an earlier forecast of 7.24 million vehicles and better than the 7.3 million it sold the previous fiscal year.
But that's unlikely to be enough to avert losing its crown as the world's biggest automaker by vehicle sales to General Motors Co.
In other business news
*Dunkin' Donuts will start selling its coffee in single-serve Keurig cups today, beating rival Starbucks Corp. to the market in a fast-growing portion of the coffee business.
*Pfizer Inc. said Tuesday that its second-quarter profit rose 5 percent, as lower taxes and reduced restructuring charges from its 2009 purchase of Wyeth offset growing generic competition cutting into sales. The world's biggest drugmaker by revenue said its net income was $2.61 billion, or 33 cents per share, up from $2.48 billion, or 31 cents a share, in 2010's second quarter.
*Google Inc.'s latest deal aims to help people find the best daily deals on the Web. In its latest acquisition of talent and technology, Google has bought Dealmap. It's a 15-month-old startup that compiles discount offers from local merchants scattered in markets across the nation.
*AOL is trying to snatch a larger portion of the tablet computer audience by launching free iPad software that presents a customized, daily e-magazine with content from all over the Web. The app, called Editions, is being released today.