2. Westmoreland Coal (WLB), an energy company, operates in the coal and power segments. Its operations include five surface coal mines in Montana, North Dakota and Texas and two coal-fired power-generating units with a total capacity of 230 megawatts in North Carolina. Over the past week, the stock gained 6.1%.
The company announced this week that its shares would become components of the Russell 3000 Index later this month. Also this week, Westmoreland said it had reached a new four-year collective bargaining agreement with workers at its Absaloka Mine in Montana. Lastly, it said that it would be moving its new corporate headquarters to Englewood, Colorado in November 2011 for better visibility with other public mining and energy companies.
Last week, the company's board of directors declared a dividend of 53.13 cents per depository share payable on July 1, 2011. Each depository share represents a quarter of a share of the company's Series A Convertible Exchangeable Preferred Stock.
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