Nixon price freeze prompts dividend move for elderly widows
The decision aims to aid retirees and widows dependent on dividend income as the stock market reacts poorly to President Nixon's oil day price freeze. Butts said the change would benefit seniors though the market shows little response to the policy.
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Market Rally Fades As Dividend News Hits Wall Street
New York stocks swung early on news that companies may pay higher dividends, then pared gains by midday. The Dow Jones industrial average rose 6.32 to 879.97, after a brisk first half hour push that saw the 40 Industrials up 19. Trading volume on the Exchange reached 10.36 million by noon, the highest since mid February. Analysts cautioned that dollar uncertainty and interest rate trends still cloud outlook. The Dow closed at 879.65, its lowest since December 16, 1971.
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