Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-10-29
FAT DIVIDENDS
DECLARED BY FIVE
COMPANIES AT n. Y.

New York, Oct. 2s.-(By the Asso-
ciated Press)-wall Street looked for.
ward today to an unusually happy hol-,
iday season when directors Of nvs,
companies declared Christmas divi-..
dends" to stockholders. so called be-,
cause they represent special distribu-'
lions payable around the end Of the
year. Scores of other extra or increass,
ed dividends are looked for during the.
next six weeks with Indications that.
the total of such payments will run.
Into hundreds of millions of dollars.
Directors of the American Tobacco.
Company. who have been paying $1.7S.
quarterly on the class A and class b.
stocks $3.50 par), today placed the,
stock on an IS annual basis by declar-..
ing a quarterly payment of 81, and
In addition, declared an extra divi-
dend of 81 on each class Of stock, all
payable December 1 to stock OF record
November 10.
Common stock of the Kelyinator.
Corporation. which was brought OUT
last February at SIG share and today,
sold above $40 on the New York curb.
market, was placed on a 50 annual
! cash and per cent. annual stock
dividend basis. as against the old
yearly rate of $3.50 in cash. There are
100000 shares Of stock outstanding.
Directors of the BarnBdall Corpor-
alton, who have not paid dividends on
the common stock since April, 1921,
today resumed payments by declaring
dividends of so cents each on the class
A and class B stocks ($25 par). Of
which $4,000 shares are outstanding.
The dividends are payable January
to stock of record December is.
Directors of the American Banknote
Company declared an extra dividend of
So on the common stock, payable Mo-
vember 80 to stock of record Novem-
Der Is. Stockholders win vote DecenI-
Der on a proposal to split up the COM
mon stock FIVE for one, changing the
par value from $50 share to $40
share. IF the change Is approved.
President Daniel E. Woodruff stated
that the directors expect to initiate
regular dividends on the new stock At
the rate of $1.60 q share per annum.
The American Stores Corporation des
clared an extra dividend Of 10 cents
payable December l to stock Of record
December "A. and also declared four
50-cent quarterly dividends for 1925.
The previous rate was 20 cents quar-
terly.
Several railroads are expected to In
creases their dividends before the end
of the year. Southern Railway, Mhfeh
earned $10.21 a share on $120,000,000
common stock in the first nine months
Of the year. is expected to increase
the annual rate from SIS to 81. Balti-
more & Ohio is scheduled to increase
it's rate from IS to Sc; New York Cen
tral from 81 to IS, and Bangor =
Aroostook from SO to SIS.
The General Motors Corporation,
which nearly doubled its annual divi-
dend requirements in the first nine
months of this year. is expected to de-
clare an extra cash dividend Of So on
the 100000 shares of common stock
outstanding at the next meeting. 9th
er corporations for which higher rates
are looked for include American Met
ais, Union Gas, Loew's. General Amer
lean Tank, Brooklyn Union Gas, and
Underwood Typewriter. Armour Pack
ing stock will probably be placed on
So annual dividend basis soon a1tsF
the first Of the year.