Kenya Commercial Bank Limited (KCB.tz) HY2012 Interim Report

first_imgKenya Commercial Bank Limited (KCB.tz) listed on the Dar es Salaam Stock Exchange under the Banking sector has released it’s 2012 interim results for the half year.For more information about Kenya Commercial Bank Limited (KCB.tz) reports, abridged reports, interim earnings results and earnings presentations, visit the Kenya Commercial Bank Limited (KCB.tz) company page on AfricanFinancials.Document: Kenya Commercial Bank Limited (KCB.tz)  2012 interim results for the half year.Company ProfileKenya Commercial Bank Limited is a leading financial institution in Tanzania offering retail and corporate banking services as well as mortgages, treasury and Bancassurance services. Kenya Commercial Bank offers financial solutions ranging from current accounts, overdrafts and loans to fixed and short-term deposits, mortgage finance, trade finance and forex, and business investment accounts. The banking institution participates in investments in Treasury Bills and Bonds with the central banks. Wholly-owned subsidiaries in the banking group include Kenya Commercial Finance Company Limited, Savings & Loan Kenya Limited, Kenya Commercial Bank Nominees Limited, Kencom House Limited, KCB Tanzania Limited, KCB Sudan Limited, KCB Rwanda SA and KCB Uganda Limited. Kenya Commercial Bank Limited is listed on the Dar es Salaam Stock Exchange.last_img read more

Saga shares are surging. Here’s what I’d do next

first_img Saga (LSE: SAGA) shares are on an upswing. The company’s share price increased by 34% on Wednesday. And as I write on Thursday, it’s up another 5%. The strong share price reaction follows news that Pfizer’s coronavirus vaccine appears to be 94% effective for the over-65s. News that the Moderna and AstraZeneca vaccines work well for older people has helped too.Last week, Pfizer had announced its vaccine to tackle Covid-19 was 90% effective. US pharmaceutical giant Moderna followed with an announcement that its vaccine solution appears to be 95% effective. And AstraZeneca’s news has come today.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Saga shares benefited from these vaccine announcements with the share price doubling since the start of November.The shares have risen an incredible 50% since I recently wrote about and considered buying them. It was one of two cheap shares in the travel sector that I looked at buying in anticipation of an economic recovery next year. Saga targets the over-50s in two main business areas, insurance and travel. News of high vaccine effectiveness for the over-65s could help it significantly.Is it too late to buy Saga shares?I’m kicking myself now because I didn’t act earlier, but am I too late to buy? No, I don’t think it’s too late to buy for the long term. These cheap and unloved shares could still get a further significant re-rating if Covid-19 is brought under control next year. I reckon there’s significant pent-up demand from UK holidaymakers who missed out this year.The target market for Saga also tend to be wealthier and cash-rich. Once travelling is safer, I think confidence will return to the battered travel sector, and cruises will return to being as popular as they once were.But I also think Saga shares could be more volatile in the short term. Hurdles could provide a buying opportunityWhile recent vaccine news has created optimism and improved the chances of an economic recovery next year, there are still hurdles to overcome.We currently don’t know which vaccine(s) will be most suitable. Also, it could take many months to distribute and vaccinate enough of the population. There could be a difficult winter period coming with an extension to lockdowns. Vaccine delays could cause Saga shares to fall in the short term.However, over the coming year, I think Saga could be a good turnaround story. It has had 15 years of under-investment in its brand. But it has outlined its turnaround plan, which could be the shot in the arm that it needs to reinvigorate the weakened brand.Saga is a less risky share compared to a pureplay cruise provider due to it operating in both insurance and travel, I feel. The insurance part of the business provides stability and cash flow. The travel side of the business provides significant upside if Covid-19 is brought under control and an economic recovery follows.Overall, any weakness in Saga shares over the coming weeks and months could be a great buying opportunity, in my opinion.   “This Stock Could Be Like Buying Amazon in 1997” I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. See all posts by Harshil Patel Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Harshil Patel | Thursday, 19th November, 2020 | More on: SAGA Image source: Getty Images. Simply click below to discover how you can take advantage of this.center_img Our 6 ‘Best Buys Now’ Shares Saga shares are surging. Here’s what I’d do next Harshil Patel has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Enter Your Email Address Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement.last_img read more

How I plan to make a passive income by investing in UK dividend stocks

first_img FREE REPORT: Why this £5 stock could be set to surge Our 6 ‘Best Buys Now’ Shares See all posts by Peter Stephens How I plan to make a passive income by investing in UK dividend stocks Making a passive income from UK dividend stocks could be a worthwhile move over the long run. At the present time, over 20 FTSE 100 shares have yields that are in excess of 4%. And, looking ahead, they could potentially offer dividend growth in the coming years in a possible economic recovery.Of course, investing money in any shares comes with high risks. There’s never any guarantee of dividends or capital growth from any company. However, such risks can be reduced, but not completely eliminated, by diversifying among a wide range of stocks.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Buying UK dividend stocks with attractive yieldsInvesting money in UK dividend stocks with attractive yields is likely to be an obvious first step when seeking to make a passive income. At the present time, it may be possible to obtain a higher yield from FTSE 350 shares than elsewhere. However, ensuring those yields are relatively reliable and affordable could be crucial in generating a worthwhile income that lasts over the coming years.Meanwhile, it’s also important to analyse a company’s track record of dividend payouts. Other factors include how affordable its shareholder payouts are based on profitability, as well as its comparative offering versus sector peers. These could all be a means of obtaining a high, yet robust, income return.While such checks may not always pick up on potential warning signs that lead to lower dividends in future, they can help to lessen that risk to some extent.Focusing on dividend growth to make a passive incomeAlthough inflation is relatively low at the present time, that may not always be the case. Therefore, buying UK dividend stocks that can offer the prospect of a rising passive income could be a sound move. They may be able to offer some protection against inflation in the long run, in terms of retaining or improving an investor’s spending power.Identifying which stocks can offer dividend growth is never an easy task. It’s likely to be more of an art than an exact science. However, look out for companies with solid earnings estimates, large dividend cover and a strong financial position. These may be less impacted by the wider economy’s performance and may offer greater scope for dividend growth.Reducing risks from buying income sharesAs mentioned, investing money in UK dividend stocks comes with high risks relative to many other assets. Although those risks can never be reduced to zero, they can be lowered by analysing the companies being purchased and assessing their financial position.Risks can also be limited by diversifying across a wide range of companies. This may lead to a more resilient passive income that offers greater scope for growth in the long run. The result may be a more robust outlook from a portfolio of UK dividend shares. Are you on the lookout for UK growth stocks?If so, get this FREE no-strings report now.While it’s available: you’ll discover what we think is a top growth stock for the decade ahead.And the performance of this company really is stunning.In 2019, it returned £150million to shareholders through buybacks and dividends.We believe its financial position is about as solid as anything we’ve seen.Since 2016, annual revenues increased 31%In March 2020, one of its senior directors LOADED UP on 25,000 shares – a position worth £90,259Operating cash flow is up 47%. (Even its operating margins are rising every year!)Quite simply, we believe it’s a fantastic Foolish growth pick.What’s more, it deserves your attention today.So please don’t wait another moment. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Enter Your Email Address Peter Stephens | Friday, 5th February, 2021 Simply click below to discover how you can take advantage of this. Get the full details on this £5 stock now – while your report is free. Image source: Getty Images. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee.last_img read more

Modernisation Fund decisions due in April

first_img  20 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Howard Lake | 6 February 2006 | News Tagged with: Ireland Modernisation Fund decisions due in April About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis The Modernisation Fund in Northern Ireland, which has £2 million to distribute in its first round, will announce its first grants round in April. The Modernisation Fund was established to help community and voluntary sector organisations form partnerships, explore new ways of working and make themselves more efficient. According to the Department of Social Development, who administer the Fund, applications totalling nearly £18 million were submitted for the £2 million programme. However, at least 50 per cent of the applications are ineligible because they do not address the programme’s central themes of change management and improving effectiveness. The final round of revenue funding from the Modernisation Fund (around £1 million) will be open in October. The much larger captial programme totalling £15 million will be launched in the summer. Advertisementlast_img read more

Kevin Kibble joins Whitewater

first_imgKevin Kibble joins Whitewater Tagged with: Consulting & Agencies Individual giving Recruitment / people Kevin Kibble added: This is a great time for me to be joining Whitewater. The new developments at Our Lasting Tribute take in memoriam fundraising to the next level, and the innovation team have some revolutionary ideas for individual giving that I look forward to helping bring to the sector.” Howard Lake | 10 December 2007 | News AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThiscenter_img About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. Kevin Kibble, former Managing Director of Professional Fundraising magazine and Fundraising Initiatives Limited, has joined the Whitewater management team.Kible will take up the role with immediate effect of MD of Our Lasting Tribute, with special responsibilities to advise and develop other new product offerings for the charity sector.Whitewater Chairman Steve Andrews said: “Whitewater is declaring 2008 as the year of innovation in individual donor fundraising. We have some very exciting ideas up our sleeves and we needed someone of Kevin’s calibre to help us to make them happen. We’re really thrilled that he is joining us.” Advertisement  24 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThislast_img read more

Still suffering from Sandy

first_imgWW photo: G. DunkelThousands of people living in New York City’s Far Rockaway and Staten Island areas are still without heat, hot water and electricity. They have to line up for hot meals and food. Toxic mold and residue from Sandy’s surge fill their apartments. On Dec. 15, Occupy Sandy in conjunction with a number of community members called protests, involving marches and housing rehabilitation, in these two communities. This was followed by a gathering in front of Mayor Michael Bloomberg’s posh Manhattan house in the evening.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img

BBC World TV broadcasts suspended by the authorities

first_img ChinaAsia – Pacific News July 5, 2002 – Updated on January 20, 2016 BBC World TV broadcasts suspended by the authorities China: Political commentator sentenced to eight months in prison RSF_en 05.07.2002Chinese officials, including some from the China international TV Corporation, confirmed on 5 July, to Agence France-Presse, that BBC World broadcasts had been blocked for “breaking Chinese regulations concerning the reception of foreign programs”. The authorities did not specify the type of violation nor the length of the sanction._________________________________________________________________Reporters Without Borders (Reporters sans frontières) today deplored China’s suspension of satellite relays of the British TV network BBC World following a programme mentioning Beijing’s crackdown on the outlawed Falungong movement and called for the ban to be lifted at once.”The Chinese authorities are once again showing that to them freedom of expression just means favourable articles and reports,” said Reporters Without Borders secretary-general Robert Ménard in a letter to Chinese foreign affairs minister Tang Jiaxuan. “We fear this kind of measure will lead international media distributed in China to exercise self-censorship when it comes to sensitive topics.” He also called for other foreign TV news broadcasts to be made freely available to the Chinese people.BBC World confirmed today that its transmissions by the Chinese satellite Sinasat-1 had been blocked. “We are trying to find out exactly why,” a spokesman told Reporters Without Borders, adding that it was probably because of a programme that went out on 1 July marking the anniversary of the return of Hongkong to Chinese rule and including references to the Falungong.The Chinese authorities refused to answer questions about the ban from the Associated Press news agency. BBC World has been allowed to broadcast to China since January last year, but only to luxury hotels and buildings where foreigners live. The present suspension is the first since then. Organisation to go further April 27, 2021 Find out more Receive email alerts Newscenter_img June 2, 2021 Find out more News China’s Cyber ​​Censorship Figures News ChinaAsia – Pacific Democracies need “reciprocity mechanism” to combat propaganda by authoritarian regimes March 12, 2021 Find out more Follow the news on China Help by sharing this information last_img read more

New Residential Investment Corp. Announces Fourth Quarter and Full Year 2020 Results

first_img Includes non-controlling interests. New Residential Investment Corp. Announces Fourth Quarter and Full Year 2020 Results By Digital AIM Web Support – February 9, 2021 1,723 385,159 415,513,187 WhatsApp  $ Restricted cash  $ Non-capitalized transaction-related expenses $0.15 Year EndedDecember 31, 2020  $ – ) 14,359 56,522 Represents activity from January 1, 2021 through February 1, 2021.  $ GAAP Net Income (Loss) 147,063  $ $(1,464.7) million (8) $0.16 Per common share calculations for both GAAP Net Income (Loss) and Core Earnings are based on 425,127,967 weighted average diluted shares during the quarter ended December 31, 2020; 420,968,626 weighted average diluted shares during the quarter ended September 30, 2020; 415,513,187 weighted average diluted shares during the year ended December 31, 2020; and 408,990,107 weighted average diluted shares during the year ended December 31, 2019. Per share calculations of Common Dividend are based on 414,744,518 basic shares outstanding as of December 31, 2020; 415,744,518 basic shares outstanding as of September 30, 2020; 415,744,518 basic shares outstanding as of June 30, 2020; 415,649,214 basic shares outstanding as of March 31, 2020; 415,520,780 basic shares outstanding as of December 31, 2019; 415,520,780 basic shares outstanding as of September 30, 2019; 415,520,780 basic shares outstanding as of June 30, 2019; and 415,429,677 basic shares outstanding as of March 31, 2019. Per common share calculations for Book Value are based on 414,744,518 basic common shares outstanding as of December 31, 2020. 33 ) – 16,505 Core Earnings (3) 79,472  $ – (3.52 NRZ Common Dividend: Common Dividend per Share (1) Impairment 14,357 Total Equity 10,361 39,819 $82.9 million – $(3.52) $831.0 million 60,689 44,863,454 ServicingRecord quarterly segment pre-tax net income of $47.8 million (+58% QoQ and +75% YoY) (2)Servicing portfolio grew to $297.8 billion in UPB (+4% QoQ and +36% YoY) 570,669 Residential Securities and Call RightsPurchased $3.9 billion (net face value) of Agency securitiesSold $160 million (face value) of non-Agency securitiesCalled non-Agency collateral of $155 million UPB (5) 89,092 Financing and LeverageOverall leverage of 3.6x compared to 2.8x as of September 30, 2020 (6)Leverage excluding Agency securities of 1.2x at December 31, 2020 compared to 1.0x as of September 30, 2020  $ (1) Summary Operating Results: (13,548 Local NewsBusiness 14,357 )  $ )  $ 5,275 (6) Q4 2020 89,134 Based on management’s current views and estimates, and actual results may vary materially. 18,556 Represents recourse leverage. Excludes non-recourse leverage, including outstanding consumer debt, servicer advance debt, $37.4 million of full MSR debt for September 30, 2020, SAFT 2013-1 and MDST Trusts mortgage backed securities issued, and Shellpoint non-agency RMBS. 77,921  $ (8,309 ) (21,135 (11,456  $  $ ) 10,977 111,420 17,407 Change in fair value of investments 11,640  $ (1,295 3,048 (19,590 11,640  $ 30,057 $0.19 5,429,684 36,941 130,528 (62,718 58,124 2,611,396 – 678,171 14,244,558 31,779  MSRs &ServicerAdvances  Management fee to affiliate 172,336  $ 2019 September 30, 2020 425,127,967 4,840 3,658 1,452,005 584,469 549,733 General and administrative expenses Income tax expense (benefit)* 91,576 3,002,267 – 21,144 4,180 Quarter Ended December 31, 2020 570,669 ) Incentive compensation to affiliate ) 35,344  $ ) December 31, 2020 103,920 24,238  $ Residential Securities and Loans  $ 309,727 ) 89,092 (437,126 Interest expense 135,619  $ 211,732 Other (income) loss 11,415 3,048 ) )  $ ) 273,418 Core Earnings per Diluted Common Share (1) 4,357 14,359 – 15,652 –   – Net income (loss) attributable to common stockholders – Income (loss) before income taxes (unaudited) 5,547,108 1,452,005 (Gain) loss on settlement of investments, net 17,795  $ $2.17 80,094 Equity 27,308 28,154 930 G&A and other 25,174 Valuation and credit loss provision (reversal) on loans and real estate owned (“REO”) – Assets(unaudited) 120,683 ) 100,812 403,854  $ ) 1,359,754 35,577 77,921 74,568 $137.0 million 254,335 14,584 61,034 Income tax expense (benefit) – 2020 1,358,422 65,563 131,637 $1.46 101,522 31,067 Gain (loss) on settlement of investments, net (4,276 (1,357,684 – (213,443 605,933 ) – (28,694 Total other income (loss) 68,609 29,545 Servicing revenue, net )  $  $ 19,326 20,646 74,666 71,304  $ Servicer advances receivable ) (3)  $ 5,256,014 59,650  $  Servicing  $2.00 65,563  $  $ 31,779 155,638 Basic ) 4,148 (8,616 (5,585 933,751 Core Earnings 363  $ 1.35  $  $ 0.16  $  $ 3,967,960 –  $ 300,884 944,854  Corporate& Other  ) Limit on RMBS discount accretion related to called deals – 14,359 (1,370,054 Diluted Diluted 420,968,626 $886.8 million  ResidentialSecurities &Call Rights  Dividends Declared per Share of Common Stock 1,399,092 (411 Core Earnings is a non-GAAP financial measure. For a reconciliation of Core Earnings to GAAP Net Income, as well as an explanation of this measure, please refer to Non-GAAP Measures and Reconciliation to GAAP Net Income below. 4,188 – 0.50 Other income (loss), net 2.00 77,921 91,892 Total New Residential stockholders’ equity (8,296 Excess mortgage servicing rights assets, at fair value  $ Impairment (3,849 (1,464,653 Mortgage servicing rights, at fair value ) 40,120 Cash and cash equivalents Interest income Weighted Average Number of Shares of Common Stock Outstanding  $  $ – – – – (61,990 December 31, 2020 1,887,086  $ 5,215,703 171,243 35,954 – Noncontrolling interests in income (loss) of consolidated subsidiaries  $ (3.52 Twitter (unaudited) 150,026 TAGS  204,732 $0.32 3,301,374 150,026 Twelve Months Ended December 31, (2,230 Three Months Ended (88,345 488,252 – ) 1,395,800 44,863,454 –  ResidentialSecurities &Call Rights  50,752 17,547,680 131,648 27,916,225 Secured notes and bonds payable (includes $1,662,852 and $659,738 at fair value at December 31, 2020 and December 31, 2019, respectively) 7,644,195 Non-GAAP Results: 445,578  $ Servicer advance investments, at fair value – 132,741 ) (62,718 154 Gain (loss) on settlement of investments, net Noncontrolling interests in equity of consolidated subsidiaries 123 Dividends on Preferred Stock Dividends payable  $ $207.7 million 73,055 346 600,790  $ 61,034 Commitments and Contingencies  $ Preferred Stock, par value of $0.01 per share, 100,000,000 shares authorized: 169,788 Q3 2020 Trades receivable 7.125% Series B Preferred Stock, $0.01 par value, 11,500,000 shares authorized, 11,300,000 and 11,300,000 issued and outstanding at December 31, 2020 and December 31, 2019, respectively Earnings from investments in consumer loans, equity method investees 415,744,518 – Noncontrolling Interests in Income of Consolidated Subsidiaries  $ )  $ Consolidated Balance Sheets ($ in thousands) (3,767 5,498,226 (8,067 Retained earnings (accumulated deficit)  $  $ 34,845 ) ) 6.375% Series C Preferred Stock, $0.01 par value, 16,100,000 shares authorized, 16,100,000 and 0 issued and outstanding at December 31, 2020 and December 31, 2019, respectively 7,783  $ 7,157,710 (489 108,668 78,550  Corporate& Other  233,848 Accumulated other comprehensive income (loss)  $ 33,252,114 Dividends on preferred stock  $ NON-GAAP MEASURES AND RECONCILIATION TO GAAP NET INCOME New Residential has five primary variables that impact its operating performance: (i) the current yield earned on the Company’s investments, (ii) the interest expense under the debt incurred to finance the Company’s investments, (iii) the Company’s operating expenses and taxes, (iv) the Company’s realized and unrealized gains or losses on investments, including any impairment or reserve for expected credit losses and (v) income from the Company’s origination and servicing businesses. “Core earnings” is a non-GAAP measure of the Company’s operating performance, excluding the fourth variable above and adjusts the earnings from the consumer loan investment to a level yield basis. Core earnings is used by management to evaluate the Company’s performance without taking into account: (i) realized and unrealized gains and losses, which although they represent a part of the Company’s recurring operations, are subject to significant variability and are generally limited to a potential indicator of future economic performance; (ii) incentive compensation paid to the Company’s manager; (iii) non-capitalized transaction-related expenses; and (iv) deferred taxes, which are not representative of current operations. The Company’s definition of core earnings includes accretion on held-for-sale loans as if they continued to be held-for-investment. Although the Company intends to sell such loans, there is no guarantee that such loans will be sold or that they will be sold within any expected timeframe. During the period prior to sale, the Company continues to receive cash flows from such loans and believes that it is appropriate to record a yield thereon. In addition, the Company’s definition of core earnings excludes all deferred taxes, rather than just deferred taxes related to unrealized gains or losses, because the Company believes deferred taxes are not representative of current operations. The Company’s definition of core earnings also limits accreted interest income on RMBS where the Company receives par upon the exercise of associated call rights based on the estimated value of the underlying collateral, net of related costs including advances. The Company created this limit in order to be able to accrete to the lower of par or the net value of the underlying collateral, in instances where the net value of the underlying collateral is lower than par. The Company believes this amount represents the amount of accretion the Company would have expected to earn on such bonds had the call rights not been exercised. Beginning January 1, 2020, the Company’s investments in consumer loans are accounted for under the fair value option. Core earnings adjusts earnings on consumer loans to a level yield to present income recognition across the consumer loan portfolio in the manner in which it is economically earned, to avoid potential delays in loss recognition, and align it with the Company’s overall portfolio of mortgage-related assets which generally record income on a level yield basis. With respect to consumer loans classified as held-for-sale, the level yield is computed through the expected sale date. With respect to the gains recorded under GAAP in 2014 and 2016 as a result of a refinancing of, and the consolidation of, the debt related to the Company’s investments in consumer loans, and the consolidation of entities that own the Company’s investments in consumer loans, respectively, the Company continues to record a level yield on those assets based on their original purchase price. While incentive compensation paid to the Company’s manager may be a material operating expense, the Company excludes it from core earnings because (i) from time to time, a component of the computation of this expense will relate to items (such as gains or losses) that are excluded from core earnings, and (ii) it is impractical to determine the portion of the expense related to core earnings and non-core earnings, and the type of earnings (loss) that created an excess (deficit) above or below, as applicable, the incentive compensation threshold. To illustrate why it is impractical to determine the portion of incentive compensation expense that should be allocated to core earnings, the Company notes that, as an example, in a given period, it may have core earnings in excess of the incentive compensation threshold but incur losses (which are excluded from core earnings) that reduce total earnings below the incentive compensation threshold. In such case, the Company would either need to (a) allocate zero incentive compensation expense to core earnings, even though core earnings exceeded the incentive compensation threshold, or (b) assign a “pro forma” amount of incentive compensation expense to core earnings, even though no incentive compensation was actually incurred. The Company believes that neither of these allocation methodologies achieves a logical result. Accordingly, the exclusion of incentive compensation facilitates comparability between periods and avoids the distortion to the Company’s non-GAAP operating measure that would result from the inclusion of incentive compensation that relates to non-core earnings. With regard to non-capitalized transaction-related expenses, management does not view these costs as part of the Company’s core operations, as they are considered by management to be similar to realized losses incurred at acquisition. Non-capitalized transaction-related expenses are generally legal and valuation service costs, as well as other professional service fees, incurred when the Company acquires certain investments, as well as costs associated with the acquisition and integration of acquired businesses. Since the third quarter of 2018, as a result of the Shellpoint Partners LLC (“Shellpoint”) acquisition, the Company, through its wholly owned subsidiary, NewRez, originates conventional, government-insured and nonconforming residential mortgage loans for sale and securitization. In connection with the transfer of loans to the GSEs or mortgage investors, the Company reports realized gains or losses on the sale of originated residential mortgage loans and retention of mortgage servicing rights, which the Company believes is an indicator of performance for the Servicing and Origination segments and therefore included in core earnings. Realized gains or losses on the sale of originated residential mortgage loans had no impact on core earnings in any prior period, but may impact core earnings in future periods. Beginning with the third quarter of 2019, as a result of the continued evaluation of how Shellpoint operates its business and its impact on the Company’s operating performance, core earnings includes Shellpoint’s GAAP net income with the exception of the unrealized gains or losses due to changes in valuation inputs and assumptions on MSRs owned by NewRez, and non-capitalized transaction-related expenses. This change was not material to core earnings for the quarter ended September 30, 2019. Management believes that the adjustments to compute “core earnings” specified above allow investors and analysts to readily identify and track the operating performance of the assets that form the core of the Company’s activity, assist in comparing the core operating results between periods, and enable investors to evaluate the Company’s current core performance using the same measure that management uses to operate the business. Management also utilizes core earnings as a measure in its decision-making process relating to improvements to the underlying fundamental operations of the Company’s investments, as well as the allocation of resources between those investments, and management also relies on core earnings as an indicator of the results of such decisions. Core earnings excludes certain recurring items, such as gains and losses (including impairment and reserves as well as derivative activities) and non-capitalized transaction-related expenses, because they are not considered by management to be part of the Company’s core operations for the reasons described herein. As such, core earnings is not intended to reflect all of the Company’s activity and should be considered as only one of the factors used by management in assessing the Company’s performance, along with GAAP net income which is inclusive of all of the Company’s activities. The primary differences between core earnings and the measure the Company uses to calculate incentive compensation relate to (i) realized gains and losses (including impairments and reserves for expected credit losses), (ii) non-capitalized transaction-related expenses and (iii) deferred taxes (other than those related to unrealized gains and losses). Each are excluded from core earnings and included in the Company’s incentive compensation measure (either immediately or through amortization). In addition, the Company’s incentive compensation measure does not include accretion on held-for-sale loans and the timing of recognition of income from consumer loans is different. Unlike core earnings, the Company’s incentive compensation measure is intended to reflect all realized results of operations. The Gain on Remeasurement of Consumer Loans Investment was treated as an unrealized gain for the purposes of calculating incentive compensation and was therefore excluded from such calculation. Core earnings does not represent and should not be considered as a substitute for, or superior to, net income or as a substitute for, or superior to, cash flows from operating activities, each as determined in accordance with U.S. GAAP, and the Company’s calculation of this measure may not be comparable to similarly entitled measures reported by other companies. Set forth below is a reconciliation of core earnings to the most directly comparable GAAP financial measure (dollars in thousands, except share and per share data): Interest income Additional paid-in capital ) (3,627 537,302 25,573 Net income (loss) attributable to common stockholders 5,083 902,081 ) 1.34  $ ) 1,096,166 5,239 550,015 Adjustments for Non-Core Earnings: 408,789,642 (10,058 103,882 10,735 22,452 – 420,968,626 7.50% Series A Preferred Stock, $0.01 par value, 11,500,000 shares authorized, 6,210,000 and 6,210,000 issued and outstanding at December 31, 2020 and December 31, 2019, respectively (18,189 (unaudited) Other Income (Loss)  $  $ Net Income (Loss) Per Share of Common Stock 234,118 94,068 Previous articleGeorgia, No. 16 Tennessee meet in conference playNext articleMagellan Healthcare Presents Clinical Model for Serving the Behavioral Health Needs of High-Risk Children and Adolescents Digital AIM Web Support  $ Expenses 28,171 $77.9 million  $ $62.4 million (250                 – 6,044 ) 98 36,893 ) ) Incentive compensation to affiliate )  $ 90,128 91,892 Noncontrolling interests in income (loss) of consolidated subsidiaries 12,969 24,833  $ – ) 581,777 36,246 (188,381 1,793,690 Liabilities and Equity  $ (197,053 538,056 GAAP Net Income (Loss) per Diluted Common Share (1) Interest income on residential mortgage loans, held-for-sale  $ Liabilities 9,579 15,605 ) 415,059,735  $ 71,998 13,404 273,418 ) Twelve Months Ended December 31, (94,457 Net income (loss) 1,946,588 ) (43,929 – (188,973 1,205 0.16 Total revenues  $ (186,361 1,120,087 ) 550,015 Facebook Residential mortgage loan repurchase liability ) – 0.19 607,174 13,281 781,971 (178,994 122,391 –  $ – 528,737 )  $  $ Real estate and other securities (687 0.15 Change in fair value of investments 6,120 332,209 (unaudited) 16,582 15,029 (18,993  $ 408,990,107 947,316 ) 1.46 29,687 – 459,218 September 30, 2020 Mortgage Servicing Rights (“MSRs”) and Servicer AdvancesMSR portfolio totaled approximately $537 billion UPB as of December 31, 2020 compared to $571 billion UPB as of September 30, 2020 (4)Issued two MSR debt securitizations for $1.0 billionIssued two servicer advance securitizations for $0.8 billionServicer advance balances of $3.6 billion as of December 31, 2020 from $3.4 billion as of September 30, 2020 due to the seasonal nature of property tax and insurance disbursements Gain (loss) on settlement of investments, net 462,737 172,336 240,974  MSRs &ServicerAdvances  20,055 ) (19,010 Unsecured senior notes, net of issuance costs  $ Common Dividend 120,683 77,216 – 5,398 0.17 408,990,107 460,107 (39,605 682,151 – Three Months Ended 278,432 ADDITIONAL INFORMATION For additional information that management believes to be useful for investors, please refer to the latest presentation posted on the Investor Relations section of the Company’s website, www.newresi.com. For consolidated investment portfolio information, please refer to the Company’s most recent Quarterly Report on Form 10-Q or Annual Report on Form 10-K, which are available on the Company’s website, www.newresi.com. EARNINGS CONFERENCE CALL New Residential’s management will host a conference call on Tuesday, February 9, 2021 at 8:00 A.M. Eastern Time. A copy of the earnings release will be posted to the Investor Relations section of New Residential’s website, www.newresi.com. All interested parties are welcome to participate on the live call. The conference call may be accessed by dialing 1-866-777-2509 (from within the U.S.) or 1-412-317-5413 (from outside of the U.S.) ten minutes prior to the scheduled start of the call; please reference “New Residential Fourth Quarter and Full Year 2020 Earnings Call.” In addition, participants are encouraged to pre-register for the conference call at https://dpregister.com/sreg/10151608/e12056e4c8. A simultaneous webcast of the conference call will be available to the public on a listen-only basis at www.newresi.com. Please allow extra time prior to the call to visit the website and download any necessary software required to listen to the internet broadcast. A telephonic replay of the conference call will also be available two hours following the call’s completion through 11:59 P.M. Eastern Time on Tuesday, February 23, 2021 by dialing 1-877-344-7529 (from within the U.S.) or 1-412-317-0088 (from outside of the U.S.); please reference access code “10151608 . ” Consolidated Statements of Income ($ in thousands, except share and per share data) (1,762 Change in fair value of investments 0.19 Income (Loss) Before Income Taxes 11,905 Basic Gain on originated mortgage loans, held-for-sale, net 33 – 0.31 ) 1,102,537 Servicing and Origination  $ 432,279  $ Trades payable 42,328 162,197  Origination  233,848  $ 123,612 – Interest expense (930,131 – – ) 1,722 Secured financing agreements  $ 886,794 56,289 81,857 167,085 $1.34 3,250 (4) 54,295 419,233 2,612 – 65,697 7,630  $ 0.19  $ 100,812 $607.2 million (1,147 112,139 (1,464,653 415,513,187 ) 0.20 ) 702 (1,340,768 38,542 4,156 (7,353 Net income (loss) Total operating expenses Core Earnings Per Diluted Share  $0.20 743,239 6,042,664 ) 85,242 84,680  $ (64 (64  $ ) Facebook 234,118 ) Call rights UPB estimated as of December 31, 2020. The UPB of the loans relating to our call rights may be materially lower than the estimates in this Presentation, and there can be no assurance that we will be able to execute on this pipeline of callable deals in the near term, on the timeline presented above, or at all, or that callable deals will be economically favorable. The economic returns from this strategy could be adversely affected by a rise in interest rates and are contingent on the level of delinquencies and outstanding advances in each transaction, fair market value of the related collateral and other economic factors and market conditions. We may become subject to claims and legal proceedings, including purported class-actions, in the ordinary course of our business, challenging our right to exercise these call rights and, as a result, we may not be able to exercise such rights on favorable terms or at all. Call rights are usually exercisable when current loan balances in a related portfolio are equal to, or lower than, 10% of their original balance. (5) – 1,718,273 1,753,251 9,450 (10,072 37,627,194 247,926 Residential loans and variable interest entity consumer loans held-for-investment, at fair value Preferred stock management fee to affiliate (1,438 7,925  $  $ (1,108,929 1.34 Net Income (Loss) Attributable to Common Stockholders 167,085 Interest expense Quarter Ended September 30, 2020 (203,652 (10,058 2.17 $0.50  $ 14,366  $ 20,388 5,398 5,321,016 (41,034  $ Other assets Change in fair value of investments (95,728 ) Due to affiliates  $ 85,242 (1,762  ResidentialLoans  227,981 Accrued expenses and other liabilities Net income (loss) attributable to common stockholders Common Stock, $0.01 par value, 2,000,000,000 shares authorized, 414,744,518 and 415,520,780 issued and outstanding at December 31, 2020 and December 31, 2019, respectively Core Earnings of $607.2 million, or $1.46 per diluted common share (1)(3)Common Dividends of $207.7 million, or $0.50 per common share (1) 421,567 204,732 36,246 7,607 (178,060 Other income (loss), net ) 389,548 – – )  $ 33,252,114 Gain on originated mortgage loans, held-for-sale, net 28,171 101,522 (170,679 647,699 Net Income (Loss) Per Diluted Share  Includes excess and full MSRs. 18,875 –  $ 18,556 (43,929 (307,396 Excess mortgage servicing rights 37,246  $  $ 55,591 312,278 7,720,148 Residential mortgage loans, held-for-sale ($4,705,816 and $4,613,612 at fair value at December 31, 2020 and December 31, 2019, respectively)  $ Servicing and Origination (65,237 13 (19,603 56,940 462,737 7,236,260 Residential LoansSold $195 million (face value) of residential loansPurchased $321 million of early buyout (“EBO”) loans  $ ) ) (2)  $ 80,094 236,134                 – Core Earnings of $137.0 million, or $0.32 per diluted common share (1)(3)Common Dividend of $82.9 million, or $0.20 per common share (1)Book Value per common share of $10.87 (1)$944.9 million of cash as of December 31, 2020 FULL YEAR 2020 FINANCIAL HIGHLIGHTS:GAAP Net Loss of $(1,464.7) million, or $(3.52) per diluted common share (1)$934.4 million pre-tax income from Origination and Servicing (2)  $ (31,172 *Beginning in the third quarter of 2020, we revised our methodology of allocating tax expense within the Servicing and Origination segments. Specifically, taxes are now allocated based on intercompany agreements rather than based on a more general pro rata approach. We believe the change better reflects the operating performance of each respective segment. Amounts for prior periods have been recast to conform with the current period presentation. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain information in this press release constitutes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, our ability to capture additional market share and increase borrower retention, the ability of our MSR portfolio to benefit from rising interest rates, our estimated Q1’21 Funded Origination Volume and Q1’21 Servicing Portfolio UPB, and ability to generate earnings and deliver on our objectives for our shareholders. These statements are not historical facts. They represent management’s current expectations regarding future events and are subject to a number of trends and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those described in the forward-looking statements. Accordingly, you should not place undue reliance on any forward-looking statements contained herein. For a discussion of some of the risks and important factors that could affect such forward-looking statements, see the sections entitled “Cautionary Statements Regarding Forward Looking Statements,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s most recent annual and quarterly reports and other filings filed with the U.S. Securities and Exchange Commission, which are available on the Company’s website (www.newresi.com). New risks and uncertainties emerge from time to time, and it is not possible for New Residential to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Forward-looking statements contained herein speak only as of the date of this press release, and New Residential expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in New Residential’s expectations with regard thereto or change in events, conditions or circumstances on which any statement is based. ABOUT NEW RESIDENTIAL New Residential is a leading provider of capital and services to the mortgage and financial services industry. The Company’s mission is to generate attractive risk-adjusted returns in all interest rate environments through a portfolio of investments and operating businesses. New Residential has built a diversified, hard-to-replicate portfolio with high-quality investment strategies that have generated returns across different interest rate environments over time. New Residential’s portfolio is composed of mortgage servicing related assets (including investments in operating entities consisting of servicing, origination, and affiliated businesses), residential securities (and associated called rights) and loans, and consumer loans. New Residential’s investments in operating entities include its mortgage origination and servicing subsidiary, NewRez, and its special servicing division, Shellpoint Mortgage Servicing, as well as investments in affiliated businesses that provide services that are complementary to the origination and servicing businesses and other portfolios of mortgage related assets. Since inception in 2013, New Residential has a proven track record of performance, growing and protecting the value of its assets while generating attractive risk-adjusted returns and delivering over $3.5 billion in dividends to shareholders. New Residential is organized and conducts its operations to qualify as a real estate investment trust (“REIT”) for federal income tax purposes. New Residential is managed by an affiliate of Fortress Investment Group LLC, a global investment management firm, and headquartered in New York City. View source version on businesswire.com:https://www.businesswire.com/news/home/20210209005407/en/ CONTACT: Investor Relations Kaitlyn Mauritz 212-479-3150 [email protected] KEYWORD: NEW YORK UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: REIT FINANCE PROFESSIONAL SERVICES RESIDENTIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY SOURCE: New Residential Investment Corp. Copyright Business Wire 2021. PUB: 02/09/2021 06:30 AM/DISC: 02/09/2021 06:31 AM http://www.businesswire.com/news/home/20210209005407/en ) 38,864  $ 774 ) ) ) Revenues  ResidentialLoans  ) 2019 3,489,675 “In the aftermath of the challenging market conditions caused by the COVID-19 pandemic, I am happy to report that our Company ended 2020 in a very strong position,” said Michael Nierenberg, Chairman, Chief Executive Officer and President of New Residential. “The early days of the pandemic created market volatility causing us to react quickly as the financing markets for all products, including government guaranteed securities, froze. Asset prices plummeted and assets financed in the repurchase markets needed to be funded with additional capital. We moved quickly to de-lever our portfolios, reduce risk, lock down financing, create liquidity and get the Company back to a position of strength. While 2020 saw historically low rates, NewRez produced record earnings. After reducing our common stock dividend in March 2020, we raised our common stock dividend in the following three consecutive quarters.” “Looking forward, we believe that our portfolio of MSRs will benefit from rising interest rates, resulting in more cash flows and higher earnings. We also believe that our mortgage company is poised to capture additional market share and increase borrower retention. Against this backdrop, we look forward to executing on our strategy and delivering on our objectives for shareholders,” added Mr. Nierenberg. FOURTH QUARTER 2020 COMPANY HIGHLIGHTS:OriginationSegment pre-tax net income of $247.9 million (-21% QoQ and +187% YoY) (2)Record quarterly origination funded production of $23.9 billion in unpaid principal balance (“UPB”) (+32% QoQ and +125% YoY)Record quarterly Direct to Consumer funded production of $4.3 billion UPB (+25% QoQ and +169% YoY)  Servicing  Total other income (loss) 410,855 Impairment ) 27,822,430 First Quarter 2021 Commentary (7)Estimated Q1’21 Funded Origination Volume of approximately $23 billion to $25 billion UPBEstimated Q1’21 Servicing Portfolio UPB of approximately $300 billion UPBThrough January 2021, called 13 deals with collateral of $387 million UPB (5)(8)Forbearances on Full NRZ MSR portfolio declined to 5.3% as of January 22, 2021 compared to 6.8% as of September 30, 2020 15,682  $ 33,913 22,482 (13,398 Income (loss) before income taxes 63,818 Servicing revenue, net Residential mortgage loans subject to repurchase Interest income 1,756 (151,582 10,735  $ (95,728  Total  ) (714 Gain on originated mortgage loans, held-for-sale, net  $ WhatsApp 122,478 – ) December 31, 2020 488,252 123,612 432,279 Net Income (Loss)  (3.52 ) ) ) 30,282 678,171 )  $ 75,381 )  $ 7,100 38,207 130,528 G&A and other 136,086 Provision (reversal) for credit losses on securities – 421,567 $0.31 68,609 0.32  $ ) – 35,774 (7)  Origination  55,900 December 31, 2019 934 Residential Securities and Loans ) $131.6 million 11,566 15,543 – 1,766,130 Mortgage servicing rights financing receivables, at fair value  $ ) ) – 2020 ) (15,534 52,674 ) ) 649  Total   $ ) Other income (loss), net 123 – 41,766 46,094 Total operating expenses 103,920 NEW YORK–(BUSINESS WIRE)–Feb 9, 2021– New Residential Investment Corp. (NYSE:NRZ; “New Residential” or the “Company”) today reported the following information for the fourth quarter and full year ended December 31, 2020: FOURTH QUARTER 2020 FINANCIAL HIGHLIGHTS:GAAP Net Income of $68.6 million, or $0.16 per diluted common share (1)$295.7 million pre-tax income from Origination and Servicing (2) 110,208 14,357  $  $ Adjust consumer loans to level yield 505,343 ) 29,545 373  $ $550.0 million ) 8,510 627 218 (10,058 Year EndedDecember 31, 2019 68,609  $ )  $ – 47,812 – 19,477,728 174,871 )  $ 541,516 57,295 Income tax expense (benefit)* (37,976 (7,353 NET INCOME BY SEGMENT – (555,041 (1 81,767 10,735  $ (3,849 Other Income and Impairment attributable to non-controlling interests 2,642 Deferred taxes Total revenues (94,457 (102,288 Impairment  $ 29,089 38,864 – (88,344 ) Twitter 33,913  $ (2,797 136,965 Core earnings of equity method investees: (4,360  $ 11,439 80,094 Dividends on preferred stock – (17,678 Record quarterly origination pull through adjusted lock volume of $25.8 billion (+18% QoQ and +119% YoY)Total gain on sale margin of 1.57% for the fourth quarter 2020 compared to 2.04% for the third quarter 2020 – ) (4,676 Pinterest ) – 42,637 10,403 12,539 Weighted Average Number of Shares of Common Stock Outstanding, Diluted 16,916 –   $68.6 million 415,513,187 ) 24,238 ) 99,374 7,925 90 85,242 –  $  $ (106,891 )  $ Servicing revenue, net of change in fair value of $(404,269), $(395,064), $(1,889,741), and $(712,950), respectively  $ ) – 27,308 Pinterest 425,127,967 16,032last_img read more

Farmers Market week begins Aug. 3

first_imgLatest Stories Print Article Email the author Sponsored Content Published 10:45 pm Thursday, July 31, 2014 Remember America’s heroes on Memorial Day The Penny Hoarder Issues “Urgent” Alert: 6 Companies… By Jaine Treadwell Troy falls to No. 13 Clemson Plans underway for historic Pike County celebration Book Nook to reopen Agriculture Secretary Tom Vilsack has declared August 3 through 9 “National Farmers Market Week” and USDA will celebrate the nation’s thousands of farmers markets, farmers who make them possible and the communities that host them.Vilsack said farmers markets play a key role in developing local and regional food systems that support family farms and help grow rural economies. Farmers markets bring communities together, connecting cities with the farms that support them and provide Americans across the country with fresh, healthy food, he saidAlabama can boast of 160 farmers markets and the Pike County Farmers Market has a proud tradition of offering locally grown produce to residents three times a week beginning in the early summer and continuing through the autumn harvest season.Cliff Boutwell, Pike County Farmers Market manager, said although the weather has slowed production of summer fruits and vegetables, the local farmers market still has fresh produce available at good prices. Next UpThe Pike County Farmers Market opens at 5 p.m. on Tuesdays and Thursdays and at 7 a.m. on Saturdays in the back parking lot of First United Methodist Church in Troy.Boutwell said those who received Senior Farmers Market Nutrition Program vouchers are encouraged to use them. The vouchers expire in mid-November. The number of vouchers issued depends on the number redeemed so it’s important that the vouchers are used each harvest season, he said.Don Wambles, administrator of the Alabama Farmers Market Authority, said nothing has been planned statewide in conjunction with “National Farmers Market Week” but individual markets may have special promotions or events planned.“Everybody is still excited about the availability of fresh, locally-grown produce,” Wambles said. “There continues to be a very strong movement to eat healthy and what better way to eat healthy than with fresh fruits and vegetables. The Alabama Farmers Market Authority continues to add farmers markets as the trend continues to buy fresh and buy local.” Pike County Sheriff’s Office offering community child ID kits Farmers Market week begins Aug. 3 By The Penny Hoarder Wambles said many people don’t understand that, in Alabama, the same crops that are available locally in the early summer are available in the fall with the addition of pumpkins, turnips, collards and satsumas.“Of course, we won’t have satsumas in Pike County but they can be brought up from Houston, Henry and Baldwin and Mobile counties. And, we’ll have our peanuts and pecans to add to the local markets.” You Might Like Ranni the Raccoon at home on Azalea Court (PHOTOS) MESSENGER PHOTO | JAINE TREADWELLPatricia Ann Jackson has befriended a raccoon at Azalea Court. Ranni the Raccoon and Jackson have… read more Around the WebMd: Do This Immediately if You Have Diabetes (Watch)Blood Sugar BlasterIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier LivingHave an Enlarged Prostate? Urologist Reveals: Do This Immediately (Watch)Healthier LivingWomen Only: Stretch This Muscle to Stop Bladder Leakage (Watch)Healthier LivingRemoving Moles & Skin Tags Has Never Been This EasyEssential HealthGet Fortnite SkinsTCGThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view your opt out options in Revcontent’s Privacy PolicyWant your content to appear on sites like this?Increase Your Engagement Now!Want to report this publisher’s content as misinformation?Submit a ReportGot it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancellast_img read more

29-year-old man arrested in killings of 3 homeless people in Baton Rouge

first_imgBaton Rouge Police Department(BATON ROUGE, La.) — A 29-year-old man has been arrested in the killings of three homeless people in Baton Rouge, Louisiana.Jeremy Anderson was booked Wednesday night on two counts of first-degree murder and one count of second-degree murder, Baton Rouge Police Chief Murphy Paul said at a news conference on Thursday.Authorities executed a search warrant and took evidence from a Baton Rouge home linking a suspect to the “horrific acts,” Paul said.During an interview, Anderson allegedly made incriminating statements placing himself at a crime scene, Paul said.Tony Williams, 50, was found shot to death on the porch of a vacant home on Friday.Williams was about two blocks away from where the other victims, Christina Fowler, 53, and Gregory Corcoran, 40, were found shot to death on Dec. 13.A detective zeroed in on Anderson as a possible suspect this week, said East Baton Rouge Sheriff Sid Gautreaux. No motive is known, Paul said.Last week, Paul urged the homeless to be extra vigilant, warning, “There is danger in sleeping outside.”The victims were part of a community “which is often overlooked and vulnerable,” Baton Rouge Mayor Sharon Weston Broome said Thursday. “It is our duty to protect our homeless.”Anderson is “presumed innocent. The burden is completely on the state of Louisiana, on the district attorney’s office,” East Baton Rouge District Attorney Hillar Moore said Thursday.Anderson “potentially faces three first-degree murder charges,” Moore said. “We will weigh the evidence … before we make any type of charging decision.”Copyright © 2020, ABC Audio. All rights reserved.last_img read more