Word: dividend
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...showed up less in dividends. Last month 165 companies increased their dividends, as against 154 in October of 1961. The biggest exception was the steel industry, now pouring at only 60% capacity. Three of the top five companies slashed their dividends. Last week Chairman Roger Blough grimly announced that U.S. Steel was paring its quarterly dividend, from 75? to 50?, for the first time since the Depression year of 1938. For the whole industry, profit margins plunged from 5.5? on the dollar in the third quarter of last year to 2.7? in this year's third quarter...
Heaviest losers were the steelmakers. Bethlehem Steel, the nation's second largest producer, shaken by a 59% drop from last year's $33.9 million to this year's $13.9 million, chopped its quarterly dividend from 60? to 37½?. Jones & Laughlin's earnings melted from $10.1 million to $1.9 million while deficits were reported by Pittsburgh Steel ($814,000) 'and Kaiser Steel ($2.5 million). By contrast, steel's tough competitor, Aluminum Co. of America, increased its earnings 26% from $9.4 million to $11.8 million...
...world's biggest source of industrial diamonds. After independence came in 1960, the Belgians put their weight behind an eccentric Baluba chief named Albert Kalonji, and went right on mining diamonds while the Congolese central government floundered helplessly in Leopoldville. Wallowing in Forminiere's lavish tax and dividend payments, the bearded Kalonji donned a diamond-studded crown and leopard apron, found himself a scepter, and dubbed himself Kasai's King Albert...
...permit," and extended a warm welcome to foreign investors: "Canada's foreign development will continue to require imports of capital, and to this end will maintain a climate hospitable to foreign investment." As evidence of the clearing climate, the Tories are expected to remove a 15% tax on dividend payments to foreign investors imposed in December...
...conference committee that must compromise differences between the Senate version, which the Treasury Department estimates would reduce tax revenues by $210 million a year, and the House measure, which would increase revenues by $325 million. The biggest difference between the two bills is that the House version includes dividend and interest withholding...