Cortland dividend

Cortland dividend

CORTLAND

Cortland Bancorp, the holding company for Cortland Savings and Banking Co., announced that its board of directors declared a quarterly cash dividend of 6 cents per share. The dividend will be payable on or after June 1 to shareholders of record May 12.

New OBWC system

COLUMBUS

As part of its move to a new prospective billing system, the Ohio Bureau of Workers’ Compensation board of directors approved a plan Friday to allow private employers to pay for their annual workers’ compensation premiums in two, four, six or 12 installments.

Under the new system, businesses will be billed before receiving coverage instead of the previous system of billing employers after they have received coverage.

Businesses can expect to receive their first notice of estimated annual premium in early June for the 2015 policy year. Beginning July 1, businesses will pay an estimated premium for the upcoming coverage year and undergo a payroll “true-up” process after the policy year ends to ensure the proper premium was paid.

F.N.B. results

PITTSBURGH

F.N.B. Corp. reported first-quarter 2015 results with net income available to common shareholders for the quarter totaled $38.3 million, or $0.22 per diluted common share. Comparatively, net income for the first quarter of 2014 totaled $32.2 million, or $0.20 per diluted common share, and fourth-quarter 2014 net income totaled $37.3 million, or $0.21 per diluted common share.

Barra’s compensation triples to $15.8M

DETROIT

General Motors CEO Mary Barra’s compensation more than tripled in 2014 to $15.8 million in her tumultuous first year in the automaker’s top job.

Barra and other top executives got only 74 percent of the cash incentives they could have received, because GM fell short of goals set by the board. But her stock awards more than doubled from 2013 when she was senior vice president of for product development and purchasing.

GM reported its 2014 compensation Friday in its proxy filing with the U.S. Securities and Exchange Commission. The company also named a new board member and announced that its annual stockholders meeting will take place June 9 at GM’s Detroit headquarters.

Diet Pepsi to make switch to sucralose

NEW YORK

PepsiCo says it’s dropping aspartame from Diet Pepsi in response to customer worries and replacing it with sucralose, another artificial sweetener commonly known as Splenda.

The decision to swap sweeteners comes as Americans keep turning away from popular diet sodas. Rival Coca-Cola said this week that sales volume for Diet Coke, which also uses aspartame, fell 5 percent in North America in the first three months of the year.

Atlanta-based Coca-Cola said in a statement that it has no plans to change the sweetener in Diet Coke, which is the country’s top-selling diet cola.

Staff/wire reports