Limestone University faces possible closure
The college held meetings with students and staff on Wednesday to inform them the college is facing 'financial uncertainty,' which could lead to the school switching to a fully-online model or permanently closing.
According to a press release on the college website, Limestone's Board of Trustees has announced unless the university can obtain 'immediate financial support in the amount of $6 million' the institution will need to move fully online or begin the process of closing.
The Board will convene on April 22, to discuss the next steps for the institution.
'Limestone remains committed to our students and we will work directly with current students to help them identify the best path to successfully complete their educational journey,' said Randall Richardson, chair of the Limestone University Board of Trustees. 'We are reaching out separately to students with information regarding options to continue their education.'
In the event the university were to swap to online model, it would discontinue all in-person operations, including athletics in Gaffney.
'The Board's priority is to preserve the Limestone mission of education and service on our campus in addition to online. But without this financial lifeline, we will have no choice but to move all operations online, which means closing our physical campus,' said Richardson.
The college said its financial challenges stem from a combination of nationwide enrollment declines, rising costs, and long-standing structural pressures facing small, private institutions. The proposed $6 million emergency fund would stabilize operations and give the university the opportunity to pursue long-term solutions that preserve its on-campus identity, according to a media release.
Limestone University opened in 1845 as Limestone College, an independent non-denomination Christian college located in Gaffney. The school changed its name to include the university moniker in 2020.
At the time of its opening, Limestone was the first women's college in South Carolina, and among the first in the country. The college began admitting men in the early 1900s, but did not allow them to live on campus.
The school offers programs on-campus and online from associate, undergraduate and masters programs.
In 2024 the college named Dr. Nathan Copeland as its newest president. Earlier this year the school kicked off a $1.5 million athletic campaign by naming its first female athletic director.
According to nonprofit investigative journalism outlet ProPublica, Limestone University's finances have dipped in recent years. The school operated at a $12.6 million deficit in 2022-23, up significantly from a $2 million annual deficit in previous years.
A tax form for the 2022-23 tax year show the university received $9 million less in donations and grants that year.
Notes from tax forms said the university was home to 2,250 full-time equivalent students and 330 employees.
In a post on Facebook, Gaffney Mayor Lyman Dawkins said the closure would be a 'significant blow to our community.'
'The economic impact will be substantial. Limestone has provided countless jobs, brought in students and families who supported local businesses and served as a catalyst for growth. In our current efforts to revitalize downtown Gaffney, Limestone students have played a vital role. Their energy, involvement, and contributions have breathed life into our city and helped us build momentum for the future.'
'The psychological and emotional toll will be equally profound. Limestone has been a point of pride, tradition, and inspiration for our residents. It has opened doors for countless local students and families. Many of them were first-generation college students and helped shape dreams into realities. As a proud alumni, I will forever love and honor Limestone University.'
Mayor Lyman Dawkins III
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 hours ago
- Yahoo
FirstCash Holdings' (NASDAQ:FCFS) Upcoming Dividend Will Be Larger Than Last Year's
The board of FirstCash Holdings, Inc. (NASDAQ:FCFS) has announced that it will be paying its dividend of $0.42 on the 29th of August, an increased payment from last year's comparable dividend. Despite this raise, the dividend yield of 1.4% is only a modest boost to shareholder returns. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. FirstCash Holdings' Payment Could Potentially Have Solid Earnings Coverage The dividend yield is a little bit low, but sustainability of the payments is also an important part of evaluating an income stock. Before making this announcement, FirstCash Holdings was easily earning enough to cover the dividend. This means that most of what the business earns is being used to help it grow. Looking forward, earnings per share is forecast to rise by 21.0% over the next year. Assuming the dividend continues along recent trends, we think the payout ratio could be 22% by next year, which is in a pretty sustainable range. Check out our latest analysis for FirstCash Holdings FirstCash Holdings Is Still Building Its Track Record Even though the company has been paying a consistent dividend for a while, we would like to see a few more years before we feel comfortable relying on it. Since 2016, the dividend has gone from $0.50 total annually to $1.68. This works out to be a compound annual growth rate (CAGR) of approximately 14% a year over that time. FirstCash Holdings has been growing its dividend quite rapidly, which is exciting. However, the short payment history makes us question whether this performance will persist across a full market cycle. The Dividend Looks Likely To Grow Investors could be attracted to the stock based on the quality of its payment history. It's encouraging to see that FirstCash Holdings has been growing its earnings per share at 13% a year over the past five years. Growth in EPS bodes well for the dividend, as does the low payout ratio that the company is currently reporting. FirstCash Holdings Looks Like A Great Dividend Stock Overall, we think this could be an attractive income stock, and it is only getting better by paying a higher dividend this year. Distributions are quite easily covered by earnings, which are also being converted to cash flows. Taking this all into consideration, this looks like it could be a good dividend opportunity. Companies possessing a stable dividend policy will likely enjoy greater investor interest than those suffering from a more inconsistent approach. However, there are other things to consider for investors when analysing stock performance. Taking the debate a bit further, we've identified 2 warning signs for FirstCash Holdings that investors need to be conscious of moving forward. Looking for more high-yielding dividend ideas? Try our collection of strong dividend payers. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 hours ago
- Yahoo
Bread Financial Holdings (NYSE:BFH) Has Affirmed Its Dividend Of $0.21
The board of Bread Financial Holdings, Inc. (NYSE:BFH) has announced that it will pay a dividend on the 12th of September, with investors receiving $0.21 per share. This payment means the dividend yield will be 1.3%, which is below the average for the industry. While the dividend yield is important for income investors, it is also important to consider any large share price moves, as this will generally outweigh any gains from distributions. Investors will be pleased to see that Bread Financial Holdings' stock price has increased by 31% in the last 3 months, which is good for shareholders and can also explain a decrease in the dividend yield. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. Bread Financial Holdings' Earnings Will Easily Cover The Distributions It would be nice for the yield to be higher, but we should also check if higher levels of dividend payment would be sustainable. Bread Financial Holdings has established itself as a dividend paying company, given its 9-year history of distributing earnings to shareholders. Using data from its latest earnings report, Bread Financial Holdings' payout ratio sits at 14%, an extremely comfortable number that shows that it can pay its dividend. Over the next 3 years, EPS is forecast to expand by 37.5%. Analysts forecast the future payout ratio could be 12% over the same time horizon, which is a number we think the company can maintain. View our latest analysis for Bread Financial Holdings Bread Financial Holdings' Dividend Has Lacked Consistency Even in its relatively short history, the company has reduced the dividend at least once. This suggests that the dividend might not be the most reliable. Since 2016, the annual payment back then was $2.08, compared to the most recent full-year payment of $0.84. Doing the maths, this is a decline of about 9.6% per year. Generally, we don't like to see a dividend that has been declining over time as this can degrade shareholders' returns and indicate that the company may be running into problems. The Dividend's Growth Prospects Are Limited Dividends have been going in the wrong direction, so we definitely want to see a different trend in the earnings per share. Although it's important to note that Bread Financial Holdings' earnings per share has basically not grown from where it was five years ago, which could erode the purchasing power of the dividend over time. Our Thoughts On Bread Financial Holdings' Dividend In summary, while it's good to see that the dividend hasn't been cut, we are a bit cautious about Bread Financial Holdings' payments, as there could be some issues with sustaining them into the future. The low payout ratio is a redeeming feature, but generally we are not too happy with the payments Bread Financial Holdings has been making. We would probably look elsewhere for an income investment. It's important to note that companies having a consistent dividend policy will generate greater investor confidence than those having an erratic one. At the same time, there are other factors our readers should be conscious of before pouring capital into a stock. Taking the debate a bit further, we've identified 2 warning signs for Bread Financial Holdings that investors need to be conscious of moving forward. Looking for more high-yielding dividend ideas? Try our collection of strong dividend payers. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 hours ago
- Yahoo
Patterson-UTI Energy (NASDAQ:PTEN) Is Paying Out A Dividend Of $0.08
The board of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) has announced that it will pay a dividend on the 15th of September, with investors receiving $0.08 per share. Based on this payment, the dividend yield on the company's stock will be 5.4%, which is an attractive boost to shareholder returns. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. Patterson-UTI Energy Might Find It Hard To Continue The Dividend Impressive dividend yields are good, but this doesn't matter much if the payments can't be sustained. Even though Patterson-UTI Energy isn't generating a profit, it is generating healthy free cash flows that easily cover the dividend. This gives us some comfort about the level of the dividend payments. Over the next year, EPS is forecast to rise by 99.0%. It's encouraging to see things moving in the right direction, but this probably won't be enough for the company to turn a profit. However, the positive cash flow ratio gives us some comfort about the sustainability of the dividend. Check out our latest analysis for Patterson-UTI Energy Dividend Volatility While the company has been paying a dividend for a long time, it has cut the dividend at least once in the last 10 years. Since 2015, the dividend has gone from $0.40 total annually to $0.32. This works out to be a decline of approximately 2.2% per year over that time. Declining dividends isn't generally what we look for as they can indicate that the company is running into some challenges. The Company Could Face Some Challenges Growing The Dividend Given that the dividend has been cut in the past, we need to check if earnings are growing and if that might lead to stronger dividends in the future. We are encouraged to see that Patterson-UTI Energy has grown earnings per share at 28% per year over the past five years. While the company hasn't yet recorded a profit, the growth rates are healthy. If profitability can be achieved soon and growth continues apace, this stock could certainly turn into a solid dividend payer. In Summary Overall, we don't think this company makes a great dividend stock, even though the dividend wasn't cut this year. The payments haven't been particularly stable and we don't see huge growth potential, but with the dividend well covered by cash flows it could prove to be reliable over the short term. We would be a touch cautious of relying on this stock primarily for the dividend income. Market movements attest to how highly valued a consistent dividend policy is compared to one which is more unpredictable. Meanwhile, despite the importance of dividend payments, they are not the only factors our readers should know when assessing a company. For instance, we've picked out 2 warning signs for Patterson-UTI Energy that investors should take into consideration. Looking for more high-yielding dividend ideas? Try our collection of strong dividend payers. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
