Truist board declares 45-cent dividend

The board of directors of Truist Financial Corp. declared Tuesday a quarterly cash dividend of 45 cents.

The dividend is payable March 2 to shareholders registered as of Feb. 14.

The bank has paid a cash dividend to shareholders of its common stock every year since 1903.

Richard Craver

First Horizon board declares 15-cent dividend

The board of directors of First Horizon National Corp. declared Tuesday a quarterly dividend of 15 cents a share.

The dividend is payable April 1 to shareholders registered as of March 13.

Richard Craver

State gains $721,827 in settlement with company

The N.C. Attorney General’s Office said Wednesday that the state will receive $721,827 in restitution and other recoveries as part of a national settlement with web-based electronic health records company Practice Fusion.

The company has entered into an overall $118.6 million settlement with a group of state attorneys general.

The N.C. Medicaid program will receive the settlement funds.

The company was accused of accepting payments from some drug manufacturers in exchange for using its software to promote their drugs to physicians. These payments constituted kickbacks in violation of the federal Anti-Kickback Statute, Civil Monetary Penalties Law and related state laws.

Local health-care building sells for $3.09 million

A Charlotte commercial real-estate group has spent $3.09 million to purchase the property of Piedmont Cosmetic Surgery and Dermatology Center in Winston-Salem, according to a Forsyth County Register of Deeds filing Wednesday.

The 17,355-square-foot building at 765 Highland Oaks Drive was bought by NTT Winston Highland LLC. The seller is Flagship Winston Highland LLC, also of Charlotte, an affiliate of Flagship Healthcare Properties.

Richard Craver

Qorvo reports 13.3% drop in third-quarter profit

Qorvo reported Wednesday a 13.3% decrease in net income to $220.8 million for its third quarter of fiscal 2020.

Diluted earnings were $1.36 a share, compared with 55 cents from a year ago. The company took charges worth a combined 50 cents in the quarter.

The average earnings forecast was $1.67 by seven analysts surveyed by Zacks Investment Research. Analysts typically do not include one-time gains and charges in their forecasts.

Revenue increased 4.4% to $869.1 million. Expenses fell 4.7% to $716 million.

The Greensboro chipmaker reported having $21.8 million in income tax expenses, up from $1.37 million a year ago.

Qorvo provides the following guidance for its fourth quarter: Revenue in the range of $800 million to $840 million, and diluted earnings of $1.55.

Richard Craver

Richard Craver

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