Word: dividend
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...Wertheim & Co., or held for customers of two New York brokerage firms, Merrill Lynch, Pierce, Fenner & Beane, and Carl M. Loeb, Rhoades & Co. They have a tight grip on the board. But Harris felt they were less interested in long-range plans than in the quick resumption of dividend payments that would increase the market value of their common stock. To the board's distress, the stock sank lower under Harris, from 14½ in January 1953 to a year later, though net operating income rose 81% during 1953, from...
...workers in Britain alone), makes 12,000 products from table salt to fertilizer and bulletproof gas tanks. In 1952 the company's gross sales hit $774 million, its gross profits more than $100 million. The tally for 1953 will be even better, enough for a record 15% dividend to I.C.I.'s more than 250,000 stockholders...
...result seemed certain. Six of the directors, including President Francis W. White, favored a plan to sell off eleven of the company's high-cost northern mills (nine of which have already been closed down) and retire about $20 million of its preferred stock to cut dividend charges. They were opposed by a group of directors including Frederick C. ("Buck") Dumaine, 51, boss of the New Haven railroad. But Dumaine had only five votes on his side. Last week, in a surprise coup, the Dumaine faction won control of the board and apparent victory over the management plan...
...hired him away and made him a vice president. In 1941 he moved into the presidency of the ailing Delaware, Lackawanna & Western Railroad, cut down heavy overhead costs by merging 18 subsidiary lines into the system, built up profits and enabled the Lackawanna in 1948 to pay its first dividend in 16 years...
...obvious that cutting taxes on dividends would directly help only a minority. The Administration could frankly admit this and point out that it is precisely this minority that it most wants to help. It alone has the money to invest in industry and thus help the expansion that would provide more jobs. Furthermore, dividend tax cuts (including exemption on the first $50 in dividends) should also encourage small investors to buy shares in U.S. industry...