Word: dividend
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Last week at the big coffee port of Santos, 13,000 dockers struck for even more, demanding a bonus on top of a bonus. Up to last December they received a yearly Christmas dividend equivalent to one-twelfth of their total earnings during the year. Then the federal government decreed that all Brazilian workers should receive a similar Christmas gift. The dockers reasoned that this entitled them to another bonus; the port concessionaire at Santos said no. Dockmen also demanded a 30-day paid vacation each year, full pay for days they are on strike, and a 20% "shame" bonus...
...been a good year for widows and orphans - and the other millions of Americans who regularly look in their mails for that tangible token of people's capitalism: the dividend check. With corporate profits running at record highs, the U.S.'s 17 million stockholders have watched expectantly to see what firms would share their prosperity by increasing dividends. Last week's cliffhanger was giant A.T. & T., which kept 2,200,000 shareholders agonizing while its 18 directors debated behind closed doors whether to raise the 900 quarterly dividend of the world's largest utility...
Rearguard Action. On the average, U.S. corporations pass out nearly two-thirds of their profits to shareholders. To many businessmen, this seems too much; they contend that firms often give out money that really should be used to expand and improve operations."There are some companies paying out dividends that would actually be showing no profit at all if they were making the proper set-aside for depreciation of their facilities," says Charles B. ("Tex") Thornton, chairman of California's fast-rising Litton Industries. Litton has never in its ten-year history declared a cash dividend, preferring-as many...
Growth-conscious Wall Street also puts dividend payments second in importance to earnings in appraising a company, but this idea is harder to sell to stockholders-particularly the smaller investor who tends to put his money into blue chips. Many corporate managers are still convinced that their little stockholders want and deserve those regular checks. "Shareholders are businessmen too," says President William G. Stewart of Universal-Cyclops Steel Corp., "and they're entitled to a reasonable return on investment-or there won't be any investment." Just about everyone agrees that companies should be sure that they...
...announced that its earnings climbed 15% to $76 million and sales rose to $2,098,000,000 for 1963's first half, proposed a 4-for-3 split of both the British and Dutch shares. As an added fillip, the Unilever directors promised to pay a 30? interim dividend on British shares and a 50? dividend on Dutch shares as soon as the shareholders approve the split. On the New York, London and Amsterdam stock exchanges, Unilever stocks soared...