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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Mar 10, 1920
Page
18
Stocks advanced on optimism over Supreme Court rulings but afternoon profit taking trimmed gains. New York and Boston volume showed heavy trading with 1.5 million shares in early session and calls around 7–8 percent as investors weighed stock dividends and railroad valuation impacts against money market pressures.
Financial notes argue stock dividends are not income and do not create new wealth. They explain how surpluses remain in the corporation and that any benefit to shareholders comes only from higher cash returns or easier selling when share prices adjust, not from a real increase in assets.
The Board of Directors declares an initial dividend of fifty cents per share on outstanding common stock and a two percent quarterly dividend on outstanding preferred stock. Dividends payable April 1, 1920 to stockholders of record March 15, 1920. Checks mailed. Transfer books close March 15 and reopen April 2. Benjamin B. Kahane Asst. Sec. New York March 1, 1920.
Seamans Oil Co. announces a regular quarterly dividend of five percent payable March 31 1920 to stockholders of record March 15 1920. Treasurer Houston B. Teehee signs the notice.
The United Fruit Company declares a quarterly dividend of three percent or three dollars per share on capital stock payable April 15 1920 to stockholders of record at close of business March 20 1920.
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