Word: cashes
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Dates: during 1950-1959
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...buyer for his Morse holdings, even if the court permitted him to sell, because the buyer would also be purchasing a lawsuit. But if Morse could persuade the court to make Silberstein stop buying, then the price of Morse stock might well continue to fall and drain Silberstein of cash until he is forced to settle on Morse's terms...
DIVIDEND PAYMENTS are rising in spite of worry over possible profits squeeze. In first nine months of 1957, cash dividends on New York Stock Exchange stocks hit record $6.4 billion v. $6 billion in same 1956 period. In all, 439 big-board stocks paid higher dividends than before, 430 paid as much, only 103 paid less...
...standard method of gauging a company's health is to inspect its net profit-its earnings after all costs, taxes, depreciation and interest charges are deducted. In turn, net profit is split into dividends and cash retained for investment. Before World War II, when expansion was comparatively small, such a breakdown gave an accurate idea of profits. But today, because of expansion, many economists, including those at the Federal Reserve Bank of Chicago, think that it gives a misleading impression...
...Chicago Fed argues that profit reports should not be limited to cash available for dividends and retained earnings, but should also include such things as depreciation, i.e., funds set aside to help pay for new plants and replacement-in effect, profits plowed back into the business. To get a better idea of profits, the Chicago Fed uses "gross returns to capital," counts the total profit after taxes, including all depreciation, interest, retained earnings and dividends. On that basis, there is no profit squeeze. Gross profit margins have actually gone up, will total 7.6% on sales...
Many an investor does not realize how expensive industry's expansion has become. International Business Machines Corp., for example, had gross returns after taxes of $35.10 per share last year, paid out only $3.80 per share as cash dividends; of the remaining $31.30 per share, $20 was charged off as depreciation, $9.30 was retained as cash, and another $2 per share went to pay interest on IBM's debt. In years past, U.S. manufacturing corporations were able to finance most of their expansion by retained earnings, had a relatively small debt to worry about. But today so many...