Business digest

REGION

Hermitage-based F.N.B. reports quarterly dividend

HERMITAGE, Pa. — F.N.B. Corp.’s Board of Directors has declared a quarterly cash dividend of 12 cents per share on the corporation’s common stock. The dividend is payable on Sept. 15, 2009, to shareholders of record as of the close of business on Sept. 1, 2009, said Stephen J. Gurgovits, president and chief executive officer.

F.N.B. , a diversified financial services company with total assets of $8.7 billion as of June 30, 2009, has offices in Pennsylvania and Ohio.

Steel Council to meet

MARION, Ohio — The Ohio Steel Council’s quarterly meeting is Sept. 8 from 10 a.m. to 3 p.m. at Nucor Steel, 912 Cheney Ave.

Gasoline prices drop

Gas prices in Northeast Ohio dropped 7.3 cents this week after three weeks of climbing fuel costs. The average price for a gallon of regular, unleaded gasoline is $2.541 at the pump, according to the AAA Fuel Gauge.

The decline in prices continues the correction in oil prices started last week when the Reuters/University of Michigan consumer sentiment index showed a sharp decline. The report jolted the market’s growing optimism on the health of the economy and raised concerns that consumer demand for gasoline may remain weak for a good while longer, according to the AAA Fuel Guage report.

Retail gasoline prices have begun to ease, if only slightly, following the fall in oil prices. Wednesday, the national average retail price for a gallon of self-serve regular was $2.63, down almost a penny from where it was this time last week. The average price during the week of Aug. 19, 2008, was $3.64.

NATION

Chrysler will drop lifetime warranty on powertrain

AUBURN HILLS, Mich. — Chrysler says it’s dropping its lifetime powertrain warranty in favor of a 5-year or 100,000-mile guarantee, effective with the start of the 2010 model year.

Chrysler Spokesman Rick Deneau says the decision was driven by market research that showed consumers prefer warranties with a fixed time period. Powertrain warranties typically cover repair or replacement of transmission and engine parts. In addition, the 5-year, 100,000-mile warranties will be transferable to new owners if the vehicles are sold before they run out. The previous lifetime warranties were not transferable.

Vindicator staff, wire reports