Dallas, Texas 08/13/2013 (Financialstrend) – The scrip of Arch Coal Inc. (NYSE:ACI) had been highly active for the last few trading periods to offer noteworthy returns to the shareholders. The firm had also been active with intense trading volumes in recent trading sessions. In addition to this, the company’s stock has become preferred option for a lot of investors.
The second biggest coal manufacturer in the US had recently been confronting hefty declination in its market worth from approximately $10 billion to $1 billion. Additionally, the scrip had been lagging behind the broader S&P 500 Index in its augmentation by 63% for 2013 alone.
Arch Coal Inc (NYSE:ACI) Registers Loss in 2nd Quarter
Arch Coal, Inc. (NYSE: ACI) has posted a net loss of $72.2 million during the second quarterly period of this year. Apart from non-cash accretion of acquired coal supply deals and asset impairment costs, the company’s second quarter 2013 adjusted net loss remained at $60.5 million as against an adjusted net loss of $22.1 million posted during the same period of 2012.
Mr. John W. Eaves, company’s president and CEO, stated, “During the 2nd quarterly period, we attained a sequential improvement in our earnings as we carried on managing our biz successfully in the face of feeble coal market situations.”
The company employed sturdy cost control, mainly in the Powder River Basin and in Appalachia that completely impacted per-ton margins.
Arch Coal Inc (NYSE:ACI) Director Acquires $80,600 in Stock
Director Douglas Hunt got hold of 20,000 scrips of the firm in a deal on Thursday, August 8th. The scrip was purchased at an average cost of $4.03 per scrip, for an overall transaction of $80,600.00.
Arch Coal Inc (NYSE:ACI) Announces Quarterly Dividend
The company’s directors recently made an announcement about a quarterly cash dividend of USD 0.03 per share on the company’s common stock. The dividend will be paid on 13th September to stock holders.