Word: dividend
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...only 2.4%, but profits, beset by higher costs, slumped 16% to $1.8 billion. Ford, too, felt the chill: profits down 12% to $621 million despite record sales. Looking ahead, G.M.'s board gave 1967 a vote of confidence last week, maintained the company's 85? quarterly stock dividend...
...Steel, which surprised Wall Street last fall by raising its dividend from 50? to 60?, was not being overconfident after all: even though the company's profits slipped 11% to $249 million for all of 1966, earnings rebounded 22% in the fourth quarter. "About what we expected," smiled Chairman Roger Blough, who saw the surge as a sign that the industry's major sales problem-the big steel inventories built up by its customers during 1965-had about run its course...
Wilson's maneuver paid a fat dividend in the final ten minutes, as Gustavson wore the visitors down with his radar passing. As Columbia grew desperate, they were forced to foul the 6 ft. 3 in. guard, and Gustavson responded by making both shots in a one-and-one situation time after time...
With sales off 10% from a year earlier, to $257 million, the company lost another $8,459,917 in the first quarter of its 1967 fiscal year. For the sixth straight quarter, the directors voted to skip a dividend. To reduce inventories, American's plants will close for ten working days, the second such shutdown in two months. Having virtually exhausted a $75 million line of credit from 24 banks the company last month arranged an additional $20 million loan. All $95 million is due in May, but Chapin called the loans "renegotiable...
...merger. N. & W.'s profits rose 8.6%, to a record $98 million, even though it paid the Pennsy some $10 million-which accounted for almost half of Pennsy's earnings gain- to buy back some of its own stock. > Trans World Airlines began 1966 with its first dividend in 30 years and high hopes for soaring profits- only to be grounded along with four other airlines during the 43-day machinists' strike. TWA wound up the year with earnings down 40%, to $30 million, but it still plans to keep up its $1-a-year dividends...