LOCAL BUSINESS

Ohio.com expands to Stow

Stow.Ohio.com, the second of a series of Ohio.com community sites, will launch Monday. Stow.Ohio.com is designed to be the source for Stow and Munroe Falls news and information as reported by residents, community officials, correspondents and reporters at the Akron Beacon Journal and Ohio.com.

The site is powered by Ohio.com and backed by the Beacon Journal newsroom.

Like Ohio.com’s first community website, Cuyahoga Falls.Ohio.com, this site will feature a news blog from Ohio.com correspondents, stories submitted by community members and links to websites of interest to local residents.

Community members are encouraged to submit stories and photos, said Deanna Stevens Ulrich, Ohio.com content publisher. Submissions will be reviewed before being published.

Residents may see a preview of Stow.Ohio.com Saturday and Sunday during the Stow-Munroe Falls Community Showcase at Stow-Munroe Falls High School, Stevens Ulrich said.

Schulman hikes dividend

Fairlawn-based resins compounder A. Schulman Inc. (NASDAQ: SHLM) declared a quarterly cash dividend of 19 cents a share, payable May 1 to shareholders of record as of April 19.

The increase from 17 cents a share marks an 11.8 percent hike, the company said.

“In raising the quarterly dividend, we are continuing to deliver on our commitment to create value for our shareholders through potential share appreciation and a prudent return of cash,” said Joseph M. Gingo, Chairman, President and Chief Executive Officer, in a statement.

“When combined with our earlier dividend increase announced on Oct. 14, 2011, our quarterly dividend is now 22.6 percent higher than in the same period last year. This latest dividend increase reflects our confidence in the ability of our business to generate cash and brings our annual yield to approximately 2.8 percent,” Gingo said.

Akron car show set

The John S. Knight Center in downtown Akron will be the forum today for the fourth Ohio Spring Classic Car Auction by Canton-based Classic Motorcar Auctions.

Among the more than 125 featured pre-1986 cars is a 1968 327 V-8 Chevrolet Camaro, 1948 Chrysler New Yorker Highlander convertible coupe and a 1969 Dodge Dart GTS.

There also will be more than 60 memorabilia items available for collectors.

The preview starts at 9 a.m.. The memorabilia auction runs from 11 a.m. to noon, with the car auction running from noon to 5 p.m.

General admission is $10. For more information, go to www.classicmotorcarauctions.com.

CFBank parent suffers loss

Fairlawn-based Central Federal Corp. (NASDAQ: CFBK), parent of CFBank, said it had a net loss of $1.4 million, or 36 cents a share, for its fourth quarter ended Dec. 31.

That compared to a loss of $1 million, or 26 cents a share, for the same period a year earlier.

For its full year, the bank reported a net loss of $5.4 million, or $1.42 a share. The loss was lower than $6.9 million, or $1.77 a share, for 2010.

The bank blamed the larger quarterly loss on a decrease in net interest income. For the year, it said the decrease in its loss was attributable to a lower amount of loan loss provisions.

COMPENSATION

CEO Mulally receives raise

Ford Motor Co. Chief Executive Alan Mulally’s compensation rose 11 percent to $29.5 million in 2011. It was a year in which the company reported its third consecutive annual profit but was hurt by rising commodity costs and charges for a big expansion in Asia.

Ford reported Mulally’s compensation on Friday in its annual proxy filing with the federal government.

Mulally earned $2 million in salary, up 43 percent from 2010, and stock awards valued at $13.9 million, up 86 percent from the prior year. But his performance bonus dropped 42 percent to $1.8 million as the company fell short of market share and quality targets in its worldwide markets.

Stock award at J.C. Penney

J.C. Penney Co. gave its new CEO Ron Johnson, who is re-inventing the department store retailer, compensation worth $53.2 million in 2011.

Johnson, a former Apple executive, who joined the board in August and became its CEO in November, received a base salary of $375,000 but the largest share of his pay came from stock awards valued at $52.6 million, according to documents filed with the Securities and Exchange Commission. Johnson also received a performance-based cash bonus of $236,302, which was pro-rated on his actual period of service.

Compiled from staff and wire reports