Word: dividend
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...certainties in Wall Street's uncertain world is that American Telephone & Telegraph Co., the "widows' & orphans' stock," will always pay its $9 yearly dividend. A.T.&T., which has not missed a dividend in 50 years, has been paying $9 since 1922 when the rate was upped from $8.50. But last week Wall Street's faith in "Telephone" trembled for a moment. When A.T.&T.'s President Leroy A. Wilson asked his stockholders to okay a 10,000,000-share increase in stock (to 45,000,000 shares), traders began to wonder if Telephone could...
Chrysler Corp., which jolted its competitors a fortnight ago by giving a $25 million cost-of-living wage rise to its workers (TIME, Sept. 4), last week served up another surprise. The company declared an extra $3 dividend, payable this month on top of the $1.75 quarterly dividend. This will boost dividends so far this year to $7.75, v. $5.25 for all of 1949. When the New York Stock Exchange rang the gong to open trading the next morning, Chrysler stock shot up 3½ points to 71¼, giving the entire market a fillip. At week...
Said General Motors Corp. Chairman Alfred P. Sloan Jr. last week: "A dividend increase at this time will help to keep [stockholders'] returns since the war more in line with the increased cost of living." G.M.'s contribution to the cause: a fat $2.50 extra dividend on top of its regular $1.50 quarterly payment. All told, G.M. stockholders will get $176 million for the quarter, of which $40 million will go to Du Pont, biggest G.M. stockholder. G.M. dividends this year already amount to $7 a share v. 1949's total payment...
Other big companies followed suit. U.S. Rubber tacked a 25? extra on its regular 75? dividend; International Paper gave its shareholders a 25% stock dividend plus 75? in cash; U.S. Gypsum doubled its $1 quarterly payment. By midweek this flood of dividends had stimulated another upsurge in the stock market. The Dow-Jones industrial average reached 216.97, highest since the Korean invasion, before traders began to cash in some of their profits...
...keeping a close eye on costs (the airline has no headquarters of its own, shares offices with a state-subsidized steamship company), Pacelli, Mazzarini and Gallo are able to undercut the railroads on some domestic routes and still make a profit. L.A.I, has paid a 5% dividend to its' stockholders every year...