Word: dividend
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...that they will have to borrow from government-controlled banks instead. The stock market, a major pillar of free enterprise, would thus become an ornamental façade for a socialist economy that is already 40% government-owned. Italian financial leaders have tried to convince the government that a dividend tax levied directly on corporations would be cheaper to collect and harder to dodge. But last week, after a long series of conferences with fellow Ministers, Finance Minister Giulio Andreotti was unable to draft a compromise. At a 17-hour meeting in Rome, stockbrokers from every city in Italy vowed...
...York Stock Exchange President Keith Funston made another objection: adoption of the annuities might make insurance "a vehicle for avoiding taxes on common stock investments." Funston explained that while individual investors pay capital gains taxes plus 16% to 87% tax on dividend income, insurance companies are exempt from capital gains and pay only an estimated 7.8% on net investment income. This might turn variable annuities into a tax dodge, he said, and "might even spark congressional action to reduce or remove the advantageous tax treatment of all life insurance companies...
This new and sudden cordiality paid Odria one quick dividend: APRA, with plenty of reason for joining any revolt against the dictator, gave no backing at all to the abortive February uprising of army officers at Iquitos (TIME, Feb. 27). Odria's negotiations with APRA grew serious. He offered the party eventual legality and the immediate right to run candidates for Congress if APRA would support his chosen successor...
With a court-appointed receiver and Judge Watkins keeping eyes on him, Lias has become a grudgingly effective overseer. Since 1952, Wheeling Downs has paid $4,000,000 in federal, state and local taxes and provided its stockholders a $50,000 dividend. Net worth of the racing association has climbed from $202,000 to $386,000; working cash has multiplied from $12,000 to $342,000. The Internal Revenue Service, which balked at Lias' offers to settle his tax bill-first for $500,000 and later for $1,600,000-makes no apology for allowing Wheeling Downs to operate...
WESTINGHOUSE LOSS during its strike-bound first quarter was $18.6 million v. a profit of $12.8 million in the first three months of 1955. Sales slumped nearly 40% to $225.4 million. However, Westinghouse declared a 50? common stock dividend for the quarter...