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Local Digest: AES agrees to increase pollution disclosures

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Friday, November 20, 2009

ENERGY

AES agrees to more pollution disclosures

Arlington-based AES, which operates several coal-fired power plants in the United States, has agreed to put more information about global warming in its public financial disclosures.

Among other things, the company will disclose information on its current carbon emissions and any planned increases in pollution from its coal-burning plants.

New York Attorney General Andrew M. Cuomo said AES is the latest power company to agree to give investors more information about pollution. Other companies that have already agreed to make similar disclosures include Dynegy and Xcel Energy.

-- Associated Press

BANKING

Sandy Spring slashes dividend

Sandy Spring Bancorp of Olney said Thursday that its board slashed its fourth-quarter dividend to a penny from 12 cents a share.

The new dividend is payable Dec. 17 to shareholders of record on Dec. 7.

The reduction will enable the bank holding company to retain an additional $7.3 million in common equity per year.

Daniel J. Schrider, the company's president and chief executive, said the move "reflects our commitment to maintaining a strong balance sheet as we continue to work our way through the current economic cycle." With the reduction, the company will put off considering any stock or debt sale "until we consider market conditions to be more advantageous," Schrider said.


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