Word: dividend
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...prosperous C. & O., which earned $37,994,000 in the first eleven months of 1960 and has paid a dividend for all years except two since 1899, intends to pump money into the B. & O. system for a badly needed modernization program, will repair or replace the B. & O.'s worn freight cars. All told, Tuohy expects the merger ultimately to save the two lines $46 million a year...
INCREASED DIVIDENDS aregoing to shareholders in many companies. Chrysler announced 50? per share extra dividend, Union Pacific 40? per share, Santa Fe 25? per share. American Motors raised its quarterly dividend from 25? to 30? per share; Armour raised its from 30? to 35? per share...
When Young died, Kirby simplified the company's capital structure, placed the preferred stock on a current-dividend basis and let Alleghany's cash board build up. His reluctance to put Alleghany's cash to work caused a break with the Murchisons, as well as Young's widow who sold her stock to the Murchisons to abet their proxy battle...
...Avery's hoard. Last August, Avery could draw a measure of quiet satisfaction from the fact that Ward's new free-spending management, faced with six-month earnings of $5,000,000 v. $10 million the first half of 1959, had to halve Ward's quarterly dividend. Last week, just a few days be- fore his 87th birthday, Sewell Avery died of a cerebral hemorrhage...
Steel. In the depressed steel industry, U.S. Steel Chairman Roger Blough came up with a hit. Even though its mills were operating at only 47.8% of capacity, the company earned 85? per share in the third quarter, more than enough to cover its 75? quarterly dividend. While the third quarter was down steeply from the $1.38 per share earned in the second Quarter, nine-month earnings of $4.20 per share this year were well ahead of the $3.80 in strike-harassed...