Word: dividend
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...cattle drover named Daniel Drew, a director from 1853 to 1868. "Uncle Dan'l" made millions juggling Erie stock* on Wall Street, but never gave the common stockholders a nickel, giving rise to the saying: "Icicles will sprout in hell before Erie common pays a dividend...
When Boston's famed old Pepperell Manufacturing Co. mailed out a $1.25 first-quarter dividend to its 5,600 stockholders last week, it joined the select group of U.S. companies which have paid a dividend every year for a century. Moreover, with all four of its textile weaving mills (sheets, blankets, denim, etc.) booked solid, and with a tidy $4,000,000 profit on fiscal 1950's sales of $66 million, Chairman William Amory, 81, could report that Pepperell's future looked as promising as its past...
...equipment and improvements in five years. By 1949 Johnston had the Illinois Central in such healthy shape that he resumed payments on the preferred stock. Last year, when the road earned a net of $29,123,632, the fattest in its history, he plunked out the first common dividend ($3) since 1931. As a result, the common stock has soared from its 1941 low of $4.25 to $72.75 last week. This week, 53-year-old President Johnston was just as confident about the Main Line as Investor Cobden had been in the Panic of 1857. "That the stock will...
...years ago Smith bought 500 shares at $5.50 a share, kept adding to his holdings until he had 2,200. Then he sat back and waited to cash in. But the stock went down. Though the company grossed $17 million in fiscal 1949, it netted only $25,709. The dividend: 10? a share. Smith got hopping mad, got hold of Theodore Schofield, biggest stockholder (5,600 shares), who had been fired from the company after 41 years as an engineer. Schofield was mad too. Together, Smith and Schofield formed a coalition to set things right...
...Sparks-Withington's sales jumped to $14 million v. $8.6 million in the 1949 period. Earnings: $515,991. Since Smith took over, he has expanded advertising, cut costs, and snagged business that had been going to subcontractors. Smith's new board of directors declared a 20? dividend...