Word: dividend
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...Other dividend cutters were Sperry Corp., farm-machinery maker Deere & Co., American Rolling Mill, undie-maker Munsingwear...
Although aggravated by wartime taxes and operating costs, the current wave of dividend reductions is actually part of a decade-old U.S. economic trend. The August issue of FORTUNE points out that between 1929 and 1942 U.S. national income rose 35% to an estimated $113 billion, wages & salaries jumped 46% to $76 billion, net agricultural income soared 48% to $8 billion. But at the same time, interest, rents and royalties dropped 11% to $8 billion, dividend payments flopped 25% to $4 billion...
...clearheaded U.S. economist expects any sudden reversal of this dividend trend...
...York Central common sold down to an alltime low of 6⅜ last week-just a few cents above its current earnings rate of $6 a share. Central has not paid a dividend since its $6 disbursement in 1931, and in the intervening years 1932-41 has earned a grand total of only...
...meantime it has cleaned off some $140,000,000 on its debt, mostly out of its $18,000,000-a-year depreciation reserve. It has promised to consider dividend resumption before...