Word: dividend
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...breweries, real estate-and the largest single share in Cecil King's mammoth Daily Mirror group (15%-20%; there is no majority stockholder). "I wanted responsibility, and they simply wanted a good investment," says Thomson of the negotiations with the Illustrated group, which left Ellerman with a sizable dividend-bearing interest in the organization. "Now they have the investment and I have the responsibility...
...strength of this promised new product, C-W shares jumped 8¼ points in the next two days, to reach the year's high of 40¾. But at the C-W directors' meeting on the 25th, the decision was made to cut the quarterly dividend from...
Call to the Office. According to the rules of the New York Stock Exchange, the dividend reduction should have been flashed at once to the Exchange and the Dow-Jones ticker service. Through a series of secretarial slipups, the messages were delayed by nearly an hour. Unaware of this, J. Cheever Cowdin, who was both a C-W director and a partner in Cady, Roberts, telephoned his office and left a message for Gintel about the dividend reduction. For a few moments, Gintel was the only outsider with the news. Instinctively, he sold-and made for his clients...
Short Fall, High Bounce. Many other companies also boosted dividends. Jersey Standard added a nickel, fattening the pocketbooks of its 665,000 owners by $11 million. Boeing, Brunswick and U.S. Gypsum also announced raises. In all, dividend payments by U.S. corporations are expected to grow from an annual rate of $14.3 billion in the third quarter to more than $15 billion in the fourth...
Behind the dividend spurt are a pair of cheering facts about corporate profits: 1) they slipped less during the recent recession than in any other since World War II, and 2) they have snapped back better than in any other postwar recovery. From an annual rate of $47.4 billion in first-quarter 1960, pre-tax profits slid steadily to $40 billion in first-quarter 1961. Virtually all that loss came in the manufacturing sector. But with manufacturing leading the way, the rate went back up to $45.5 billion in second-quarter 1961, then moved on to $47 billion...