Word: dividend
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...stock. This requirement, set up in a 1954 move to make Fannie May's "secondary market" operations eventually privately financed, applies any time a lender sells the agency a mortgage. Last week stockholders, who own 25,820 shares, got a pleasant surprise. Fannie May declared a 17? stock dividend, its first. The $100-par shares, selling on the over-the-counter market at around $55, are expected...
...Dividend. In Indianapolis, Criminal Court Judge Saul I. Rabb rejected a request that the jury members in a robbery case be examined by a psychiatrist, commented: "There's no statutory requirement that a juror be sane...
...under Lake Maracaibo to add to its Venezuelan affiliates. Now the Creole Petroleum Corp. (formed from those affiliates) is the biggest overseas investment in any single country by any U.S. company. It is also Jersey's best money earner, accounting for 48% of the parent company's dividend income in 1954. All by itself, Creole provides Venezuela with about 30% of government revenue. This week, in its fourth study entitled U.S. Business Performance Abroad, the National Planning Association took a searching look at Creole...
STOCK-SPLITTING WAVE is rolling higher. Montgomery Ward proposes a 2-for-1 of its 6,502,378 shares (now selling around $100), will also boost its quarterly dividend from 75? to $1 on present shares, and hand out a year-end extra of $1.25. Other splits last week: Federated Department Stores (Boston's Filene's, Manhattan's Bloomingdale's, etc.), which will split 3,598,067 common shares 2-for-1; Phillips-Jones Corp. (shirts, men's wear), which wants to split 263,805 shares...
...Dividends. Looking at 1955's stock market, Wall Street's specialists think that it is based, to a large degree, not on speculation but on the present prosperity and the bright future of U.S. business. For the first half of 1955, corporate profits after taxes hit an annual rate of $21 billion, 162% better than 1929. And the forecast for the second half year is even better: profits of $23 billion, well over last year's figure and almost equal to the 1950 record. On the basis of sales and earnings, many stocks are not regarded...