Shareholders of UniSource Energy Corporation (NYSE: UNS) approved at the company’s annual meeting today changing the company’s name to UNS Energy Corporation.
The company’s new name and a new logo are intended to strengthen its brand identity and to differentiate it from unrelated companies with similar names.
“We believe our new name and new logo convey our dedication to being a progressive, financially stable company at a time when our industry is changing. What will not change is our focus on providing safe, reliable energy services to our customers throughout Arizona,” said Paul Bonavia, UniSource Energy’s Chairman and CEO.
The new name will become effective once the company’s amended articles of incorporation are filed with the Arizona Corporation Commission (ACC). The new name and logo are not part of any merger or acquisition, the current management team remains intact, the New York Stock Exchange ticker symbol “UNS” will not change and the company’s website domain name will remain “uns.com.” Principal operating subsidiaries Tucson Electric Power and UniSource Energy Services will maintain their current names.The name “UniSource Energy” was introduced in 1998 in anticipation of industry deregulation, which did not materialize as envisioned. At that time, the company made preparations to move some operations into legally separate entities that would operate under an umbrella holding company. The name “UniSource” was intended to convey the concept that customers could obtain energy-related products and services from a single source. “The name no longer accurately reflects our business model and our current focus on our core business. Several unrelated companies also bear the name ‘unisource,’ so we feel changing our name and logo will help to avoid confusion in the long run,” Bonavia said. The name change will not affect the validity or transferability of any currently outstanding stock certificates. It is not necessary for shareholders with certified shares to surrender or exchange any stock certificates they currently hold as a result of the name change.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV