Word: dividend
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...major steelmakers reporting for the third quarter last week, higher earnings were registered by two-Bethlehem and Jones & Laughlin-and lower earnings by four -National, Armco, Inland and, most significantly, U.S. Steel. That giant's profits were off 14%, to $62 million, but its directors raised the quarterly dividend from 500 to 600, and they would not have done so unless they felt that the company could comfortably stick with the higher dividend. Industry analysts expect that steel production this year will reach another historic high of just over 130 million tons, and that output next year will...
...Steel's surprising dividend cheered Wall Street's professionals. So did a New York Times survey showing that the profits of 485 major companies rose by an average 6.7% in the first nine months; without General Motors, the average gain would have been 12.5%. Also bullish: reports from Washington and from the American Bankers' Association convention in San Francisco last week that the worst of the credit squeeze appears to be over; forecasts by the Commerce Department that in 1967 capital spending will increase by a healthy 8% and the gross national product will expand...
...president (1935-49) and board chairman (1949-51) of the Pennsylvania Railroad, who handled practically every job on the country's biggest road at one time or another, becoming a happy blend of operating and financial man, which let him maintain the Pennsy's unbroken record of dividend payments throughout the Depression while electrifying the line from New York to Harrisburg; of severe anemia; in Rosemont...
...within 1%, or $47,500,000, of the ceiling on the amount of money that they can lend; many banks are calling some current loans. At the same time, British corporations will have to scrape up around $1.5 billion by year's end to pay taxes on their dividend payments as well as the new selective employment...
...board. A surprise exception: the Reader's Digest's 11% drop in ad revenues. Such varied magazines as Cosmopolitan, Teen and Motor Trend all announced revenue increases of more than 50%. Hugh (Playboy) Hefner's HMH Publishing did well enough to declare its first cash dividend, 75? per share, though it was a bit like transferring cash from one pocket to the other. Hefner himself owns 80% of the stock, giving him a personal, first-half profit of roughly...