FutureFuel Corp. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by FutureFuel Corp. on February 7, 2011, covering events occurring on February 3, 2011. The company is incorporated in Delaware with principal executive offices in St. Louis, Missouri.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, debt, or liquidity metrics. The only financial figure disclosed is a special cash dividend declaration of $0.10 per share on common stock.
Material Changes
- Executive Appointment: Christopher J. Schmitt was appointed interim Chief Financial Officer of the wholly-owned subsidiary, FutureFuel Chemical Company (FFCC), effective February 4, 2011.
- Executive Departure: Martin Rector stepped down as interim CFO of FFCC to return to Apex Oil Company, Inc., an affiliate of the Company's chairman, as its tax manager.
- Dividend Declaration: A special cash dividend of $0.10 per share was declared with a record date of March 1, 2011, and a payment date of March 15, 2011.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future operations, or discussion of risks and contingencies. It notes that Mr. Schmitt has no family relationship with directors and no prior transactional arrangements with the Company since the beginning of the last fiscal year.
Investor Verification Checklist
- Verify the total number of outstanding shares to calculate the aggregate cost of the $0.10 special dividend.
- Confirm the operational status and financial health of the subsidiary, FutureFuel Chemical Company (FFCC), following the CFO transition.
- Review the relationship between the Company's chairman, Paul A. Novelly, and the affiliates (A.I.C. Limited and Apex Oil Company) where the incoming and outgoing CFOs previously worked.
- Check subsequent filings for the actual payment of the dividend on March 15, 2011.