Word: dividend
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...still obtusely sees his past behavior and dreadful judgment as tactical errors. If somehow he had been able openly to accept his errors for what they were, his comeback might seem more plausible. But there was one happy glint. His personal problems, Hart observed, had brought him a dividend he never imagined. "For a lot of people," he said, "I've become more human. I was always seen as a one-dimensional figure. Now people walk up to me differently. They see me as a person who's suffered. They see me as one of them...
...downs continued. The next day, U.S. Steel declared an extra dividend, the market took heart and the Times industrials gained 31 points. John D. Rockefeller, now 90, announced his optimism: "Believing that fundamental conditions of the country are sound . . . my son and I have for some days been purchasing sound common stocks." Retorted Comedian Eddie Cantor: "Sure, who else had any money left...
Nervous professionals point out that dividend yields on many stocks are averaging only around 2%, while some types of bonds pay interest of 9% or more. Right now that disparity is being more than offset by the big price gains in stocks, but there is always a chance that many investors will be tempted to switch their money out of corporate shares and into interest- bearing securities...
...everyone is willing to risk such setbacks, especially if the savings in question are earmarked for retirement or education. J.H. Freeman, a 70-year- old former financial manager of a Houston law firm, is primarily interested in steady-dividend income rather than a zooming but precarious stock price. Thus he prefers companies with reliable profits, like power utilities. Though his taste is conservative, Freeman has doubled the value of his portfolio in five years...
Harcourt's riposte pleased investors, who saw their shares surge from 44 7/ 8 to a close of 55 1/4. But the company will more than treble its $837 million debt to come up with the special dividend. Executives say they might sell off some assets but stress that Harcourt's publishing ventures, its HBJ Insurance subsidiary and its three Sea World amusement parks will not be up for grabs...