Lorillard Inc. (LO: Quote) reported fourth quarter adjusted EPS of $0.79 Wednesday morning, compared to $0.73 in the prior year period. The consensus estimate was for EPS of $0.76. The Company also announced that its Board approved a 6.5% increase in the Quarterly dividend on its common stock to $0.55 per share.
Lorillard climbed steadily throughout the first hour of trade Wednesday, before settling into a range. The stock ended the session higher by 1.96 at $41.68 on above average volume. Lorillard broke out to a 5-month high and re-crossed its 200-day moving average.
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by RTT Staff Writer
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