Word: dividend
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Actually Harvard hasn't won a sailing regatta all spring. But its almost daily practice routine in the Charles River Basin has paid the curious dividend of 12 second places in the 14 regattas raced so far. The last chance to win comes Sunday in the Boston Dinghy Club Championships...
With all these fat earnings, some stockholders got fatter dividends. U.S. Steel, which had paid a $1.25 quarterly rate since December 1947, shucked out $1.50. Jones & Laughlin paid 35% extra dividend in stock. Colorado Fuel & Iron Corp., whose regular basis is 25? quarterly, topped them all with a special dividend...
Pepsi-Cola had not been hitting the spot. Earnings had slipped, the last quarterly dividend had been omitted, and within a year Pepsi's stock on the New York Stock Exchange had skidded from 24⅛ to as low as 7½ a share. Pepsi's President Walter S. Mack Jr. thought it time to hire halls in New York and Chicago and tell stockholders the score...
...asked President Mack, did anybody have any questions? One stockholder, who had not been wasting his time on soft drinks, staggered down the center aisle and peered blearily at Mack. Why, he demanded, had executive bonuses been maintained while the dividend had been passed? Said Mack: bonuses had been scaled down according to the earnings (in 1948, Mack got $20,000 on top of his $104,000 salary). Anyway, he added, good executives "don't come a dime a dozen...
...Frazer bore the title of president. Edgar and father Henry differed with Joe Frazer on many company questions, the most recent being whether K-F should declare a dividend or cut prices. The Kaisers, who wanted to cut prices...