Word: dividend
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...nine months of the year, the bank suffered $628 million in loan losses, compared with $431 million in all of 1983. Federal regulators want the institution to increase its capital by about 20% in order to create a larger reserve against uncollectible loans. This can be done by limiting dividend payments to shareholders or issuing additional stock. After the disciplinary action, Bank of America Chairman Leland Prussia admitted, "I guess you could say it was our turn." But, he added, "we have a very stable, solid institution...
...Rate increases. Married couples with adjusted gross incomes of more than $60,000 a year ($45,000 for single taxpayers) would lose the reductions they got in July 1983, when the third stage of the Reagan tax cuts took effect. Adjusted gross essentially is salary, interest and dividend income plus some additions-a portion of capital gains, for example-and minus such things as alimony paid and contributions to an IRA. For a couple with two children, personal exemptions and average itemized deductions would shrink an adjusted gross of $60,000 to a taxable income of around...
...Disney. Said Chairman Dave Williams: "We feel like we've had the rug pulled out from under us." Three Disney shareholders filed suit in superior court in Los Angeles asking that Disney's purchase of Steinberg's shares be rescinded and that Disney pay a dividend to all shareholders...
...bank revealed last week the stringent terms that it had been forced to accept to receive an emergency $1.5 billion loan from the Federal Deposit Insurance Corp. The FDIC insisted that it have the power to fire Continental directors, that the bank suspend its 50?-per-share quarterly dividend payment and that the bank's officials refrain from giving themselves large severance bonuses, known as golden parachutes, in the event another financial institution takes over Continental...
Owning stock in Reuters, the London-based international news wire, used to be considered less an asset than a potential liability for the British and Commonwealth newspapers that hold most of the shares: the company sometimes lost money and paid no dividend for more than 40 years. Proprietors of defunct journals treated their residual interest in Reuters as worthless, omitting mention of the stock in their wills. Sellers of papers regarded their percentage of Reuters as at most an incidental value. This week, however, Reuters for the first time will offer shares to the public, and the once disgruntled owners...