Word: dividend
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...Pennsylvania Railroad, after paying its first dividend this year, canceled a 10% pay cut for its 633 officials earning above $10,000 yearly. The line also gave a 10% pay hike to nonunion workers making less than $10,000, plus an 8? hourly boost to all union workers...
...have done much to help their fellows live longer useful lives are physicians who now share the benefits. Boston's Dr. Elliott Proctor Joslin, 91, top authority on diabetes, still examines patients six days a week at the famed Joslin Clinic, gets a big extra dividend from continuing practice because no other man has studied diabetes, or the same patients, for so long. Retired in Florida after 57 years of practice, Dr. Charles Ward Crampton, 81, still keeps his hand in as a consultant to the Geriatric Institute at the University of Miami's School of Medicine...
...While 534 companies have reduced or omitted dividends to date in 1958, May marked the bottom of the dividend casualties. July cuts were the fewest of the year...
...biggest producer in the nation's most basic industry but also the most efficient one among the majors. Though it operated at only 53% of capacity in the second quarter, Big Steel announced that it earned $73.2 million or $1.25 a share, amply covered its regular quarterly dividend of 75?. Earnings declined far less from the year-ago level ($115,943,000 while at 89.5% capacity) than most Wall Streeters had expected. The report at long last destroyed Wall Street's old assumption that Big Steel needed to pour at 65% capacity just to break even. Furthermore...
...reported sales down 17% (to $51 million), profits off nearly 50% (to $3,000,000) for the first six months of 1958. Ford Motor Co. was even worse off. Its earnings dropped 77% to only $22.7 million in 1958's first quarter, thus failing to earn the 60? dividend. Last week the company gave stockholders more bad news. It cut its dividend to 40? per share, raising speculation that it might have run in the red in the second quarter...