NEWS IN BRIEF

Simmons announces

15-cent dividends

Simmons First National Corp. has declared a regular quarterly cash dividend of 15 cents per share payable July 5.

The Pine Bluff-based financial holding company said the per-share data reflect the effect of the company's 2-for-1 stock split announced Jan. 18. The split took effect Feb. 8.

The latest dividend is a 20 percent increase over the dividend paid the same period a year ago.

George Makris Jr., Simmons' chairman and chief executive officer, said in January that the stock split should result in an increase in the stock's liquidity and marketability.

Simmons First National Bank in April reported record net income for the first quarter of $51.3 million, more than double its earnings of $22.1 million in the same period a year before. Simmons earned 55 cents a share, easily beating the average projection of 52 cents a share from five analysts surveyed by Thomson Reuters.

-- Stephen Steed

McDonald's to hire

2,500 state workers

McDonald's will hire about 2,500 employees this summer in Arkansas while also expanding its nationwide Archways to Opportunity education program, the fast-food giant said.

"McDonald's is committed to being America's Best First Job, and we demonstrate that commitment through flexible work schedules and opportunities for educational and career advancement," said David Stokes, owner-operator of nine McDonald's restaurants in central Arkansas and president of the chain's ArkLaTex co-op of more than 160 stores.

Nationally, more than 250,000 employees will be hired by McDonald's this summer and more than 400,000 workers will be eligible for the Archways to Opportunity program.

The company is investing $150 million over the next five years in the program and lowering eligibility requirements from nine months of employment to 90 days and dropping weekly shift minimums from 20 hours to 15 hours. The change in hours will make new summer hires eligible for the program by the end of the season, McDonald's said.

The program provides eligible U.S. employees an opportunity to earn a high school diploma, receive up-front college tuition assistance, and learn English as a second language. Employees can receive up to $2,500 a year, an increase from the previous limit of $700, while managers get $3,000, up from $1,050. The money can be used at a community college, four-year university or a trade school.

-- Stephen Steed

State index up 2.69,

ends day at 426.23

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, rose 2.69 to 426.23 Wednesday.

"Equities started the day lower on heightened fears of trade disputes and geopolitical tensions but stocks rallied sharply in afternoon trading following release of Federal Reserve minutes indicating officials were comfortable in allowing inflation to move above their 2 percent target," said Leon Lants, managing director at Stephens Inc. in Little Rock.

The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.

Business on 05/24/2018

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