Word: dividend
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...other industry giants, General Foods Corp. and American Tobacco Co., also had good news for stockholders. General Foods directors recommended a 2 for1 split, boosted the quarter common-stock dividend from 65? to 70?. At the annual meeting, American Tobacco Co. stockholders approved a 2-for-1 split, with a planned quarterly dividend increase of 7½? per share, to 57½? on the new shares. Company President Paul M. Hahn told shareholders that sales and earnings in the first quarter this year would exceed the first quarter last year, when American Tobacco earned $1.85 per share on sales...
...reduced its long-term debt by $96 million (to $729 million), cut its passenger deficit from $42 million in 1953 to $24.8 million last year, piled up earnings of $1.29 per share in 1959 (double the previous year). Last week the Central's directors declared a 25? dividend, the second this year...
Hottest listing on the board, which contains only local stocks is Kowloon Docks, which last week declared a 35? dividend and $1.40 bonus, at once leaped to $16.47, a week's gain of $3.68. Other active stocks are local telephone and textile companies...
WITHHOLDING TAXES on stock dividends will finally pass Congress this session, if Senate Finance Committee Chairman Harry Byrd has his way. Byrd is concerned over official estimates that some $1.5 billion annually of dividend income goes unreported (tax loss to the U.S.: $400 million), has ordered committee staff to draft a tax amendment. House is traditionally in favor, has twice before passed withholding taxes...
...said he. "A fellow in my position under the tax laws is not in a position to buy stock except by borrowing." Romney borrowed enough money to buy 20,500 shares, leaving 14,500 shares still to go. At that it was a gamble: with American Motors' spotty dividend record, the carrying charges on a big loan could be a sizable expense. As American Motors moved ahead, Romney got two more sets of options over a period of years: one for 21,000 additional shares at $31.82½-per share in 1958, another for 21,000 shares...