DEBT AND EQUITIES ADC Telecommunications, Eden Prairie, will change its fiscal year-end from Oct. 31 to Sept. 30. The change is scheduled for the company's 2009 fiscal year, to begin Nov. 1 and end Sept. 30, 2009, and is being made to better align ADC's financial reporting periods with those of the company's telecommunications industry peers.
Hormel Foods Corp., Austin, Minn., broke ground on a new production facility in Dubuque, Iowa. Progressive Packaging will be operated as a wholly owned subsidiary of Hormel Foods. Total cost of the project is estimated at $89 million.
DIVIDEND Donaldson Co. Inc., Bloomington, declared a regular cash dividend of 11 cents per share, payable Sept. 12 to shareholders of record Aug. 22.
NEW BUSINESS Digital River Inc., Eden Prairie, has signed an e-commerce agreement with Shure Inc., a manufacturer of microphones, earphones and audio electronics.
PERSONNEL ADC Telecommunications, Eden Prairie, said the company's non-executive chairman, John (Gus) Blanchard III, will retire from the board of directors at the end of his term. The board appointed President and Chief Executive Robert Switz to the additional role of chairman effective Aug. 1.
Navarre Corp., New Hope, nominated Kathleen Iverson to be a director. Shareholders will elect directors at Navarre's next annual meeting, Sept. 11.
PepsiAmericas Inc., Minneapolis, elected Wahid Hamid a director. Hamid is senior vice president of corporate strategy for PepsiCo.
