Westmoreland Coal Company (NasdaqGM:WLB) today announced that its Board of Directors has declared a dividend of $.53125 per depositary share payable on July 1, 2014 to holders of record as of June 20, 2014. Each depositary share represents one-quarter of a share of the Company’s Series A Convertible Exchangeable Preferred Stock. About [...]
Westmoreland Coal Company (NasdaqGM:WLB) today announced the expiration of its offer, previously announced on May 7, 2014, to purchase up to $22,125,000 principal amount of its 10.75% Senior Secured Notes due 2018 (the “Notes”). The offer expired at 5:00 p.m. Eastern Time on Thursday, May 29, 2014. As of the expiration of the offer, Westmoreland [...]
Westmoreland Coal Company (NasdaqGM:WLB) announced today its offer to purchase up to $22,125,000 principal amount of its 10.75% Senior Secured Notes due 2018, CUSIPs 960887AB3, U96068AC2, and 960887AD9 (the “Notes”). The offer will expire at 5:00 p.m. Eastern Time on Thursday, May 29, 2014. The offer price for the Notes will be payable in cash in [...]
In connection with its acquisition of Sherritt International’s coal mining operations, Westmoreland Coal Company (NasdaqGM:WLB) announced an increase in its revolving line of credit. Westmoreland amended its existing revolving credit facility with The PrivateBank and Trust Company to add Bank of the West as a lender and to increase the maximum [...]
Westmoreland Coal Company (NasdaqGM:WLB) has completed the acquisition of Sherritt International's Prairie and Mountain coal mining operations, which include seven producing thermal coal mines in the Canadian provinces of Alberta and Saskatchewan, a 50% interest in an activated carbon plant and a Char production facility. Together with [...]
Westmoreland Coal Company (NasdaqGM:WLB) today reported its first quarter results for 2014. Highlights: Q1 2014 revenues grew 11.6% to $180.2 million compared with $161.4 million in Q1 2013. Q1 2014 Adjusted EBITDA increased 12.5% to $28.9 million compared with $25.7 million in Q1 2013. Q1 2014 operating income increased 42.1% to $8.1 [...]
On Friday, April 25, 2014, Westmoreland Coal Company (NasdaqGM:WLB) will announce the results for the first quarter 2014. A conference call with management is scheduled for 10 a.m. ET. Keith E. Alessi, Chief Executive Officer, will conduct the call. When: April 25, 2014 at 10:00 a.m. Eastern Time ...
Westmoreland Coal Company (NasdaqGM:WLB) announced that Keith E. Alessi, Executive Chairman, has reassumed the title of Chief Executive Officer, a title he previously held for the majority of the time between 2007 and 2013. Such change was made as the initial step in the realignment of the corporate structure in light of the pending closing of the [...]
Westmoreland Coal Company (NasdaqGM:WLB) today announced that its Board of Directors has declared a dividend of $.53125 per depositary share payable on April 1, 2014 to holders of record as of March 20, 2014. Each depositary share represents one-quarter of a share of the Company’s Series A Convertible Exchangeable Preferred Stock. About [...]
Westmoreland Coal Company (NasdaqGM:WLB) today reported its results for fiscal year 2013. Highlights: 2013 Adjusted EBITDA grew 10.3% to a record $116.3 million, which includes a $2.9 million charge for costs associated with the previously announced Sherritt acquisition. $29.5 million of cash generated in 2013, enabling an ending cash [...]
On Friday, February 21, 2014, Westmoreland Coal Company (NasdaqGM:WLB) will announce the results for the year ended December 31, 2013. A conference call with management is scheduled for 10 a.m. ET. Keith E. Alessi, Executive Chairman, will conduct the call. When: February 21, 2014 at 10:00 a.m. Eastern Time How: ...
Westmoreland Coal Company (NasdaqGM: WLB) announced today the closing of the previously announced private offering of $425 million in aggregate principal amount of 10.75% Senior Secured Notes. The proceeds from the offering will be used primarily to pay the purchase price and related expenses for Westmoreland’s previously announced acquisition of [...]
