Company news information may be sent to brice.w@thecityjournals.com.
DIVIDENDS
• The board of directors of Zions Bancorporation NA, based in Salt Lake City, has declared a regular quarterly dividend of 45 cents per common share. The dividend will be payable Nov. 20 to shareholders of record Nov. 13. The board also declared the regular quarterly cash dividend on the company’s Series A perpetual preferred shares. The cash dividends on the preferred shares are payable Dec. 15 to shareholders of record Dec. 1. Zions operates banks in 11 western states.
• The board of directors of Utah Medical Products Inc., based in Salt Lake City, has approved a quarterly cash dividend of 31 cents per share of common stock. The dividend is payable Jan. 5 to shareholders of record Dec. 16. It is a 1.6 percent increase over the prior regular quarterly cash dividend. Utah Medical Products develops, manufactures and markets disposable and reusable specialty medical devices.
EVENTS
• The Gateway in Salt Lake City will have its annual “Lights On” holiday lighting event Nov. 22 from 6:30-8:30 p.m. The lights will be turned on at 8 p.m. The family-friendly event will feature live entertainment, hot beverages, seasonal cocktails, and bites from Flanker Kitchen & Sporting Club, prizes, stilt walkers, and balloon twisters. The holiday lights will be on display through Dec. 31. The Gateway also will have a Market & Craft Fair on Nov. 21 and Dec. 5, 4-9 p.m. at 18 N. Rio Grade St. The free event will feature 60 local businesses, hourly prize drawings and fun photo opportunities. The Gateway’s Art Stroll will be happening simultaneously, showcasing installations created by local artists throughout Rio Grande Street.
INVESTMENTS
• Torus Inc., a South Salt Lake energy platform company, has announced a $200 million investment by Magnetar, an alternative asset manager. The investment will accelerate the deployment of Torus’ proprietary modular power plants for utilities, data centers, and commercial and industrial customers across the United States. Torus builds small, inertia-based hybrid energy systems that combine the power of mechanical flywheels with the duration of batteries, equipped with enterprise-grade security and software management. Each unit can sit at the edge of the grid or on-site at a facility and respond to grid signals in milliseconds. Linked together, they form a distributed “grid operating system” that gives utilities and businesses a new way to keep power reliable, scalable and secure. Founded in 2021, Torus grew from an initial prototype in Springville into a 40,000-square-foot facility producing more than 400 megawatts annually. The company is now preparing to open GigaOne, a 540,000-square-foot manufacturing campus in Salt Lake City, where production is expected to scale to more than 1 gigawatt per quarter within three years. A small portion of the investment will be used to support the buildout of GigaOne as Torus ramps up production to meet customer demand, the company said.
PARTNERSHIPS
• Neighbor, a Lehi-based marketplace for self-storage, vehicle storage and parking, has announced a partnership with Cubby, an all-in-one management and e-commerce platform for self-storage operators. Through the integration, Cubby customers can automatically list their available units on Neighbor’s nationwide marketplace. Neighbor’s platform connects renters with traditional self-storage facilities across the country. Cubby has over 400 clients.
• Blendtec, an Orem-based maker of commercial and residential blenders, is partnering with Food Network star Geoffrey Zakarian to introduce professional-grade blenders to home chefs. Zakarian is known as the “Iron Chef” and his Food Network television career has included “Iron Chef America,” “Big Restaurant Bet,” “Chopped” and “The Kitchen.” Zakarian has served for 15 years as chair of the Food Council for City Harvest, helping rescue and distribute fresh food to communities in need across New York City. He also is culinary director at Tampa General Hospital.
PHILANTHROPY
• The annual “Warm Bodies, Warm Souls” clothing drive has begun and will run through Nov. 21. Bank of Utah, Arctic Circle and Red Hanger are collecting warm clothing and winter essentials for 15 nonprofits serving individuals and families statewide. Drop-off locations for new or gently used clothing are in locations from Logan to St. George. A list of participating locations and the 15 benefiting organizations can be found at https://www.bankofutah.com/clothing-drive.
• The USANA Foundation joined forces with community partners and volunteers on Nov. 5 to assemble 3,000 bags of food for children and families facing food insecurity. The event at the foundation headquarters in West Valley City brought together hundreds of volunteers from organizations, including the Bountiful Food Pantry, For the Kids, the Utah Department of Cultural and Community Engagement, and Kristen Andrus’ Gathering for Impact. USANA executives, employees and community donors also participated. The bags will be distributed to the five Salt Lake area school districts along with the Bountiful Food Pantry and For the Kids. Throughout the afternoon, volunteers worked in assembly lines to pack thousands of food bags designed to provide immediate relief for families affected by the reduction in SNAP benefits. The next day, local school district trucks collected and distributed the completed bags to students and families across the region.
• Ken Garff Automotive Group, in partnership with the VA Salt Lake City Health Care System, donated Thanksgiving meals to veterans and military families during its annual “Drive Out Hunger” events Nov. 7-8. The donations included a free Thanksgiving meal at drive-through events in St. George, Salt Lake City, Orem and Ogden, with veterans and military families receiving a tote bag with a frozen turkey and all the fixings. The donations are part of the dealership group’s “We’re ‘Hear’ For You” program, an employee-run, philanthropic initiative where employees engage in service to help the local communities and the causes they care about most. Local activities were part of a companywide program in nine states.
• The doTerra Healing Hands Foundation is inviting customers to give with their purchase through the limited-time return of Together Touch. With every purchase of the essential oil, $20 will be donated to the foundation, helping fund initiatives that empower children and families, strengthen communities and “create brighter futures.”
RECOGNITIONS
• The Salt Lake Chamber recently recognized several people with awards during the 49th annual Women & Business Conference and Athena Awards Luncheon. The Athena Leadership Award was presented to Ally Isom, chief marketing and external affairs officer at Clyde Cos. Inc. The award recognizes an active member of the chamber who demonstrates creativity and initiative in business, provides valuable service by devoting time and energy to improve the quality of life for others in the community, and assists women in reaching their full leadership potential. Five business and community leaders received the Pathfinder Award for their work to create new paths and promote the development and recognition of women in business: Melanie Bowen, community relations director of the Orrin G. Hatch Foundation; Jenny Groberg, CEO and founder of BookSmarts Accounting and Bookkeeping; Lauren Gustus, CEO and executive editor of The Salt Lake Tribune; Sara Jones, CEO of InclusionPro; and Monnica Manuel, president and co-founder of RSG Performance.
• Dr. Bob S. Carter, CEO of University of Utah Health, recently was inducted into the National Academy of Medicine. Carter is a career neurosurgeon who serves as the A. Lorris Betz Executive Vice President for Health Sciences at the UofU. Carter, who was elected to the academy in October 2024, was among 90 U.S. members and 10 international members who were celebrated at an induction ceremony in Washington, D.C. The academy recognizes individuals who have demonstrated outstanding professional achievement and commitment to service. Carter joins eight other University of Utah researchers who have been elected to the academy. Carter has made significant contributions to advancing personalized medicine through research into creating new therapies for cancer. Prior to joining the UofU in 2025, Carter served as the William and Elizabeth Sweet Endowed Professor in Neuroscience at Harvard Medical School and neurosurgeon-in-chief at Massachusetts General Brigham. His education includes an undergraduate degree in chemistry from Brigham Young University.
• Twenty-five Utah state employees recently were recognized with the 2025 Governor’s Awards for Excellence, which highlight distinguished service across Utah’s executive branch in several categories. Established in 2007, the awards recognize state employees who set the standard for service, leadership and results for Utahns. The 2025 recipients for Embracing Innovation are Gracia Allen, Utah Office of the Lieutenant Governor; Brian Jensen, Utah Department of Government Operations; Madison Klein, Utah Commission on Criminal and Juvenile Justice; Siddartha Muppalla, Utah Board of Pardons and Parole; Alyssa Musselman, Utah Labor Commission; and Nicole Yerkes, Utah Department of Health and Human Services. The 2025 recipient for Exemplary Leadership is Jackie Andrew, Utah Department of Health and Human Services. The 2025 recipients for Outstanding Public Service are Atie Amirgol, Utah Department of Environmental Quality; John Capell, Utah Department of Corrections; Adam Duncan, Office of the Governor; Duncan Evans, Governor’s Office of Planning and Budget; Angela Gunderson, Utah Department of Cultural & Community Engagement; Jacoba Larsen, Utah State Tax Commission; Bruce Stewart, Utah Department of Financial Institutions; Paige Suttich, Utah Department of Workforce Services; Sheila Thomas, Utah Department of Commerce; and Yukiko Yoneoka, Utah Department of Public Safety. The 2025 recipients for Peer Leadership are Brandee Crockett, Utah Army National Guard; Eric Hansen, Utah Department of Transportation; Paul Jolley, Governor’s Office of Economic Opportunity; Tracy Klausmeier, Utah Insurance Department; Jason Skoubye, Utah Department of Alcoholic Beverage Services; Ben Stireman, Utah Department of Natural Resources; and Sherrine Wishart, Utah State Capitol Preservation Board. The 2025 recipient for Impacting Culture is Amanda Petersen, Utah Department of Agriculture and Food.
• Resonant, a Salt Lake City-based Renew Biotechnologies subsidiary developing novel diagnostic tools for neurodegenerative diseases, has received the “DNA Sequencing Innovation Of The Year” honor in the fifth annual BioTech Breakthrough Awards program. The awards are conducted by BioTech Breakthrough, an independent market intelligence organization that recognizes standout life sciences and biotechnology companies, products and services worldwide. Resonant’s blood test transforms next-generation sequencing into a practical window on active brain injury.
• Chartway Credit Union, based in Virginia and with customers in Virginia, Utah and Texas, has been recognized with the 2025 Luminaries Award for Excellence in Marketing by Credit Union Times. The national award recognizes Chartway’s 2024 campaign to empower the Hispanic community in its Utah market by expanding access to financial services. Through the initiative, Chartway helped individuals without Social Security numbers obtain home and auto loans using an ITIN, expanded its Spanish-speaking team by 60 percent, and introduced fully bilingual branches in Utah, Texas and Virginia.
RETAIL
• Smith’s Food & Drug has announced plans to build a new Smith’s Marketplace in Cedar City. The 123,000-square-foot multi-department store will be at 1247 S. Main St. and will offer a range of products and services, including full-service grocery, pharmacy, apparel, fuel and household goods. The $50 million investment will anchor an 18-acre retail development. Upon completion, expected in early 2027, the existing Smith’s Food & Drug store at 633 S. Main St., Cedar City, which opened in 1996, will close, and all employees will have the opportunity to transfer to the new store.