STEEL TRUST
failure to pay dividend. AS OUTCOME OF THE SLUMP. (United Press Association—By Electric Telegraph.—Copyright.) NEW YOB K, April 26. Tluj United States Steel Corporation called “the world’s largest corporatiou,’’ to-day omitted the dividend on its common stock for the first time since the year 1915. However, the Corporation declared its regular clivi dend on the preferred stock, A report issued concurrently, reveals that the losses sustained in the first three months of 1932 were 13,318,549 dollars. Following on the slump of 1915. the Corporation resumed payment on its five-dollar per share yearly basis until 1926, when the dividend was increased to seven dollars. In September op 1931 it was reduced to four dollars, and in January of this year to two dollars. The announcement of the dividend omission came altar the close of the Stock Exchange, where the common stocks were quoted at 28 7-8 dollars, compared with 261 dollars early in 1929. Further declines are expected on tomorrow’s trading.
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Hokitika Guardian, 28 April 1932, Page 5
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162STEEL TRUST Hokitika Guardian, 28 April 1932, Page 5
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