16 A
THURSDAY, JANUARY 19, 1961 o
MEDFORD MAIL TRIBUNE, MEDFORD, ORE.
Stockholders Paid
$14.5 Billion in
Dividends in 1961
New York - IUPD - Stockhold
ers received record high divi
dends in 1960 amounting to
more than $14.5 billion.
The aggregate, however,
was disappointing in view of
earlier forecasts of a bumper
business year in 1960. '
The number of extra and
higher dividend declarations
has been lagging since last
spring. Decreases and ommis
sions have been greater in
number. As a rule, the clos
ing months represent the best
dividend period of the year,
since many companies follow
the practice when their prof
its permit, of supplementing
their regular rates with year
end extras. The I960 perform
ance, however, did not match
1959's declarations,
Dividends, after all, come out
of earnings, and these have
run below expectations. The
"profit squeeze" is one of the
highlights of the limp econ
omic picture of I960' and
signs of a notable improve
ment have yet to appear.
Record Payments
The payment for 1960 still
1 was the best for any previ
ous comparable period in U.S.
history, compared with $14.3
billion last year and with $5.8
billion in 1929.
The average stockholder re
ceived more than $1,000 In
cash dividends in 1960. Ac
cording to an estimate by the
New York Stock Exchange
there are approximately 12,
500,000 people who receive
dividend checks. In 1952
there were around 6,490,000
shareholders in the country.
Stock dividends ranging
from 1 per cent to 100 per
cent were distributed in vol
ume in 1960. The practice of
paying dividends in stock, ei
ther in lieu of cash dividend
or in combination has been
gaining favor. The income tox
is one reason, another is a
desire of a corporation to re
ward its stockholders and at
the same time conserve cash.
' What has happened is that
directorates have acted to
keep dividends attuned to bus
iness trands. They were quite
prompt In . liberalizing pay
ments as the economy
emerged from the 1958 reces
sion, but this pace could not
be maintained once earnings
started to level off.
Companies have been caught
in a vise consisting of excess
capacity and consumer reluc
tance to pay higher prices on
one side and rising labor and
other costs on the other side.
While fourth quarter earn
ings statements will not ap
pear for many weeks, present
Indications are that they will
reflect only a small improve
ment. It takes time for a prof
it trend to reverse itself.
Set Levels
The great majority of corpo
rations set their regular divi
dend rates at levels which
they are reasonably confident
can be maintained through
good and bad times.
Ownership in American cor
porations is ' steadily being
spread out among more peo
ple. During 1960 there were
39 corporations with more
than 100,000 stockholders
each. ,
American Telephone & Tele
graph Co. lead all companies
in 1960 with cash dividends
of $737,424,000 to its 1,754,
000 stockholders, the highest
distribution ever paid in Am
erican corporate history.
General Motors' . 785,000
stockholders received $504,-
108,000; Standard Oil Co.
$487,199,000; Du Pont, 205,
000 stockholders, $309,427,
000; United States Steel, 417,
000 shareholders, $161,076,-
000; Ford Motors, 274,000
stockholders, $164,622,000,
and General Electric, 205,000
shareholders, $177,390,000.
Record payments were made
by the utility companies re
flecting the highest earnings
ever reported by that indus
try. All but three of the 25 in
dustrial groups paid larger to
tal dividends compared with
1959.
SPECIAL
PURCHASE!
mwm
lean, rugged, good lookin'
CACTUS CASUALS
These are the slacks that give you what you want,
They're styled long legged and lean-hipped. Fab
rics and stitching are revved up (or wear and
repeated washing. They hold their crease and
keep their shapel Bellless, adjustable cactus cam
paigners In wash and wear rayon acetate flan
nel, 4 colors. NATIONALLY ADVERTISED AT 6.95.
4.44-2-8.00
i l 5 4 I i "
14
3 1 ' X-
f .'If.
IU!i il If
5 s;;ll
? IPSP PI WOT
.
a step into spring
JANUARY CURTAIN SALE
CRISP WHITE DACRON PANELS-popular size of 42x81. Completely washable
... little or no ironing required. Reg. 1.98.. . . 99c panel
NEW CAFE PRINT SHORTY DRAPES pinch pleat drapes in a gay array of new
spring prints. Size 42x36. Regular 2.98 '. 1.88 pair
TEXTURED WOVEN FIBERGLASS blouce panels. Assorted colors to brighten any
room. Size 42x81. Reg. 3.98 . .2.98 panel
DACRON PINCH PLEATED SHORTY DRAPES-beautiful floral flocked dacron with
crisp while chromspun underlining. Completely washable. A crisp bright look
for any room. Wanted sizes 50x36 and 50x45.
Regular 4.98.....J: '. 1 L..l.3.49 pair
Regular 5.98....: 1 '. '. : .4.49 pair
NYLON TIER CURTAINS-in pastel shades of yellow, green and pink with gold
mylar stripe. Size 30x30...!: '. - '...88e pair
FLOCKED DACRON PRISCILLAS crisp white dacron ground wtih dainty flocked
floral overlay. Completely washable. Sizes 50x81. Regular7.98..j...5.88 pair
famous brand
IRREGULAR HOSE SALE
Slight Imperfections In no way Impair the wearing quality and looks of these
fine hose. Slock up now while they're available at this unusual low pricel
now only
2 1.00
famed brand shoe reductions
SAVE AS MUCH AS Vi
Greatest savings everl Hurry In and choose from sky-high heels, styled-in-llaly
little heels . . . suede and calf starting '61 fashion-right In black, brown, green
olive, grey and more. All sizes.
reg. to 7.99 rog. to 14.99
Lark sports & flats Jacqueline & Corelli
4.49
7.47
reg. to 18.99
Marquise
9.47
a look at luxury
LIGHT AND AIRY
PURE SILK PRINTS
A wonderful way to welcome the new season.. Popular shirtwaist styles, rolled collar,
short cuffed sleeves, self-belt. Soft full skirts. The fabric resists water spotting.. Assorted
prints and colors. See them tomorrow! Mann's second floor. .
sizes 10-18
formerly sold for 14.98
now
11
"charge it at Mann's
last days to save
JAN. YARN SALE
Stock up now for many months of knitting
pleasure.
KNITTING WORSTED, Reg. 1.55 skein 1.19
MOHAIRSPUN, Reg. 98c skein .79
CUDDIESPUN, Reg. 98c skein 79
NYLO-GERMANTOWN, Reg. 98e skein .79
(Sale Ends January 21)
X
manufacturers close-out
FAMOUS GLOVES
New color Spring colors in your favorite
styles. White, bone, brown, navy, black.
Nylons and cottons. Embroidered and
plain. Hurry for best selection. Sizes 6-8.
reg. 3.00 - 4.00
o i
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6
8
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