Salt Lake Tribune | 1917-01-31 | Page 2 | Steel Corporation Surpasses Record

STEEL CORPGRATIDFJ SURPASSES RECORD Extra Dividend Declared on Common Stock, Added to Regular. MSW YORK, Jan. 30. All previous "prosperity" records in the history of the (.'nited States Steel corporation were surpassed today when the directors declared de-clared an extra dividend of one and three-fourths per cent for the fourth quarter of 1916, and issued a statement of earnings for the same period exceeding exceed-ing bv far all similar exhibits of past years, as well as more than fulfilling tho most optimistic forecasts. The earnings for the quarter, amounting amount-ing to $105,969,347, brought the year's total earnings to $333,025,080, which more than doubled those of 1907, which, showing earnings of $160,964,674, stood as the record year until the close of 1916. The total earnings for the quarter covered in today's statement compare with the total for the third quarter of 1916. a sum which then constituted a record. The total 1916 earnings compare with $ 1-H).''50.0ti6 in 1915. - With today's extra disbursement, the total dividends on the common shares for 1910 amount to 8 per cent. The extra common disbursement calls for an outlav of $S.S95,294. This makes the total dividend disbursement for the fourth quarter, including the regular 1 ' i per cent common dividend, and the usual 1"! per cent, on the preferred stock amount to $'21,533,996. Some surprise was expressed in financial quarters because be-cause the directors did not declare a larger dividend return in the face of the enormous earnings of the fourth quarter. quar-ter. Analvsis of this final period shows that the corporation was not materially I handicapped by the shortage of coal and I cars and labor.