Olsson firm starts work on complex
Construction is underway in Fayetteville on a three story office building to house engineering firm Olsson, along with other tenants.
The facility at 3537 N. Steele Blvd. is scheduled for completion in September of 2023. The cost of the project is estimated at $8 million.
"Our team in Arkansas has continued to grow, which requires more space and a modernized work environment that would continue to attract top talent in the area," Brad Strittmatter, Olsson's chief executive officer said in a statement. "We also wanted a space that would allow us to meet the growing needs of our clients in the region."
The 36,000 square-foot office complex will be the home for Olsson's 65 employees with plans to add more workers, according to a Wednesday release. Olsson will be housed in the third and most of the second floor with plans for the rest of the building to be leased to other tenants.
Sage Partners is working with Olsson to build the complex. C.R. Crawford Construction of Fayetteville is the contractor and will serve as construction manager.
-- John Magsam
Murphy Oil set to release 2Q results
Murphy Oil Corp. is set to report its second-quarter earnings before the stock markets open this morning, a day after declaring an increased cash dividend for investors.
The oil and natural gas exploration and production company will host a conference call and webcast starting at 8 a.m. The webcast link may be found on the investor relations page of the company's website.
Anyone wishing to listen via phone may call toll-free at (888) 886-7786 and use the conference ID 14108968.
Analysts surveyed by Thomson Reuters on average expect per-share earnings of $1.56.
Murphy Oil's shares closed Wednesday at $31.95, down $2.18, or 6.39%, on the New York Stock Exchange.
The company's quarterly dividend of 25 cents per share of common stock, or $1 per share on an annualized basis, represents a 43% increase from last quarter and a 100% increase from the fourth quarter of 2021, the company said.
The dividend is payable Sept. 1 to shareholders of record as of Aug. 15.
Murphy Oil moved its headquarters from El Dorado to Houston in 2020.
-- Serenah McKay
State index ends day up 7.34 points
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Thursday at 794.92, up 7.34.
"Equities rallied sharply following the departure of U.S. House Speaker Nancy Pelosi from Taiwan without incident as the information technology and consumer discretionary sectors outperformed," said Leon Lants, managing director at Stephens Inc.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.