City Holding (CHCO) Receives $2.3M In Proceeds from Visa IPO
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City Holding Company (Nasdaq: CHCO) said it received proceeds of $2.3 million on the partial redemption of its equity interest in Visa, Inc.
In addition, City expects to reverse approximately $1.0 million of liabilities previously established that represented City's share of legal judgments and settlements related to Visa litigation. As a result, City's first quarter 2008 results are expected to benefit by $2.1 million after-tax, or $0.13 per diluted common share.
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