MERGERS AND ACQUISITIONS The Toro Co., Bloomington, has acquired some assets of Stone Construction Equipment Inc. for an undisclosed sum. Toro said it bought light construction and hardscape product assets from the Honeoye, N.Y.-based firm. Stone Construction manufactures concrete and hardscape equipment for rental and construction companies. Toro said the acquisition builds on its position in the rental market, which includes concrete and mortar mixers, material handlers, compaction equipment, and other concrete power tools. The acquired products extend Toro's product offerings to contractors and rental companies, and complement its recent acquisitions of tree care and turf renovation product lines.
DEBT AND EQUITIES Allete Inc., Duluth, declared a quarterly dividend of 46 cents per common share, payable June 1 to common stock shareholders of record on May 15.
