Word: dividendless
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...sporting a big dividend yield on turn-of-the-millennium Wall Street is like going to school with a KICK ME sign stuck to your back. You'll probably get pummeled. Investors want growth and capital gain. Period. That's apparent in today's fury to own money-losing, dividendless Internet and other tech stocks. Meanwhile, there is some question whether the rash of REITs will smooth the real estate cycle as advertised. The theory goes like this: with many real estate companies dependent on stock sales to fund projects, Wall Street becomes a long-sought governor over the industry...
Southern got its membership the hard way. Mired during the depression, it borrowed $31,405,000 from RFC. Things got better and in 1936-40 Southern earned a cool $18,457,000. But its management plugged its ears against the squawks of dividendless shareholders (the last Southern dividend was in 1931), used these profits to pay debts. RFC was paid in full in May 1941, three years ahead of time...
Congoleum-Nairn had a banner year, making $1,239.000 against $208,000. Although this amounted to only 90? a share, the company's strong financial position enabled it to go on a $1 dividend basis last summer after six dividendless years...
Last week the preferred stock, now dividendless, sold as low as 21 while the common, now Durantless, went to 4. Although both stocks had already suffered during the break, last week's decline had its own reason-"friendly" receivers were appointed as the result of a petition by Bethlehem Steel Corp., said to be a $400,000 creditor. In this receivership there was not evident the aftermath of the market's break, as had been true in the Fox trusteeship (TIME, Dec. 16), nor of poor trade conditions as in the American Piano receivership (see p. 30). There...
...large earnings of the road, however, stuck in the crop of some of the preferred stockholders, who had waited dividendless for years. Presently some of them brought suit for $29,000,000, approximately, earned but not paid on the preferred prior to 1923. Talk of a 6% dividend on the common was promptly dropped...
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