Word: dividend
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...discounting Mr. Farley's native optimism, the prospects of big Christmas spendings were rosy indeed. Aside from the continuing upward drive of Recovery, there are two good reasons for this rosiness, for both of which Mr. Farley could claim Democratic credit. One is the rising tide of extra dividend declarations, the other the nation-wide movement to raise wages, pay bonuses...
...tide of extra dividends continued to rise last week. Chrysler Corp. voted a $5.50 payment, bringing its dividend total for the year to $12 per share. Gulf Oil Corp. proposed to split its stock two for one, added a 50? payment to the regular 25? quarterly. Eastman Kodak ordered an extra of 75? per share, Columbian Carbon $1.25, Jewel Tea $2. In some cases the tax law has prompted resumption of dividends, Western Maryland Ry. last week voting the first payment ($7) on its first preferred since it was reorganized in 1917 and Libby, McNeill & Libby the first common dividend...
...corporations, a prime property right received new sanction last week-but not precisely to the liking of the corporation involved-which was Wilson & Co. Last year this big Chicago packing house put through a recapitalization plan providing, among other things, for the payment of $12,600,000 in dividend arrears, not in cash but in stock. The payment was accepted as a satisfactory settlement by the owners of 99% of the shares affected. Among the holdouts was a Wall Streeter named Joseph Keller, who figured that if back dividends were to be paid at all he was entitled to hard...
...index of Recovery, U. S. Steel's dividend policy may have been distorted by the new Federal tax on undistributed profits, a measure calculated to spur any directorate to generous treatment of stockholders. What was significant was that U. S. Steel's directors had the means with which to be generous. In the past five years the net result of U. S. Steel's operations was a loss of $132,000,000. In announcing the dividend action Chairman Myron Charles Taylor reported that U. S. Steel's profits for the third quarter of 1936 were...
...running as high as 27% on earnings retained in the business. Last week in Chicago the directors of Sears, Roebuck & Co. made their decision. After marking the company's 50th anniversary by voting a special $1,500,000 "Jubilee" wage bonus, the Sears board declared a $1.75 extra dividend representing an estimated one-half of the year's profits not needed for the $2 Sears regular. In December, when full-year figures can be estimated more closely, the directors will meet again, probably vote another extra of at least the same amount. In effect...