Word: dividend
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...party line was obviously a special dividend to De Gaulle, who insists that Russia has not yet paid enough for a summit (TIME, Nov. 2). By delaying a summit, De Gaulle hopes to be able to ensure Russia's good behavior during the U.N. debate on Algeria. Fortnight ago summit-hungry Nikita Khrushchev swallowed hard and publicly proclaimed: "President de Gaulle's recent proposal that the Algerian problem be solved on the basis of self-determination . . . may play an important part in the settlement of the question." Until then, French Communists had dismissed De Gaulle's offer...
...stock-split announcements last week there was a standout: Westinghouse Electric Corp. With the company's nine months' earnings soaring ($3.17 per share v. $2.79 in 1958) on only slightly higher sales than last year, its directors recommended a two-for-one stock split, boosted the annual dividend rate from $2 to $2.40. For Westinghouse, the nation's oldest (73 years) and second largest electrical equipment maker (first: General Electric), the split climaxed a three-year drive to reorganize the company and recover from a crippling five-month 1955-56 strike...
...corporations-including such giants as General Electric, General Motors and Standard Oil (New Jersey)-bank with Morgan Guaranty. The U.S. Government leans on Morgan Guaranty as one of the principal dealers in government securities. The bank annually sends out more than 9,200,000 dividend checks worth $1 billion for corporations, takes care of investing $6.5 billion in trust funds. Morgan Guaranty runs pension funds for such big corporations as Johns-Manville, Kennecott Copper, Philip Morris, the New York Times. It runs them well. Alexander's current appraisal of the stock market is one of caution; the bank...
...electrical-equipment firm. Giant International Business Machines had a nine-month profit of $102 million, up 10%. Drugs, retailing and food companies all were up, with cheery reports from R. H. Macy & Co., Upjohn Co., Kroger Co. Ford Motor was doing so well that it declared a 60? extra dividend, the first since public sale of its stock...
...Sunderland saw World War II service in the Army Air Forces, became a Standard director and vice president in 1949. At United Fruit, he hopes to revive wilting profits ($1.15 per share in the first six months of 1959 v. $1.94 last year) and restore United Fruit's dividend, dropped in August for the first time in 60 years...