Word: dividend
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...child support. He sold off parts of his Brooklyn Heights brownstone, gradually marooning himself on its spacious fourth floor. A house in Provincetown, Mass., was sold at an Internal Revenue Service auction. He interrupted his work on Ancient Evenings to write books for quick money. One paid an unexpected dividend: The Executioner's Song, his account of the life and death of Gary Gilmore, won the 1980 Pulitzer Prize for fiction...
...issue is a law that requires banks and other financial institutions, beginning July 1, to withhold 10% of interest and dividend payments for tax purposes. (The first $150 of interest income is exempt; the poor and the elderly get special treatment.) Unexpectedly passed last year as part of President Reagan's $98.3 billion tax package, the measure has provoked intense reaction. Spurred on by the A.B.A., banks posted flyers and distributed hundreds of thousands of postcards and letters to customers urging repeal. Sample slogan: "The Government will be picking the taxpayers' pockets...
...performance blocked Du Pont's earnings last year from being even lower than they were. But the recession has weighed heavily on the chemical giant, making the huge debt from the Conoco purchase harder to carry, and forcing the company to omit its customary extra year-end dividend. To save money, Du Pont executives have announced plans to close Conoco's Connecticut headquarters next July and move selected employees to Du Pont's home base in Delaware...
...Harvard Coop gives dividends to people in the Harvard community, but regular citizens can't join.... The mayor can only listen to their complaints all year long.... but when I put my money into a tie, Harvard students get the dividend...
Last week Citicorp's pursuit of consumer cash paid its biggest dividend so far. After a four-month campaign that in directly pitted it against the only larger U.S. financial institution, San Francisco's BankAmerica Corp. (assets: $121.5 bil lion), the Federal Home Loan Bank Board approved Citicorp's bid to buy the troubled Fidelity Savings & Loan Association of San Francisco. If upheld by the Federal Reserve Board, as expected, the takeover would mark the first time feder al regulators have allowed a bank holding company to cross both state and industry lines to buy a thrift...