OCR Text |
Show J. C. PENNEY DECLARES AN EXTRADIVIDEND At a meeting of the board of directors of the J. C. Penney company com-pany held November 24, 1936, a dividend of $1.00 per share on the common stock was declared for the quarter ending December 31, 1936. The board of directors also approved ap-proved the payment of a special Christmas bonus for associates of the company. This bonus will equal two weeks pay for employees employ-ees in the stores, offices and warehouses ware-houses of the company who have been regularly employed for over one year, and a proportionate amount for those employed for shorter periods. Mr. E. C. Sams, president of this company, stated that this is not a payment on any permanent plan but it additional 1936 remuneration for loyalty and service that have played a part in making this the greatest year in the history of the Penney company. com-pany. The number of employees affected af-fected will be somewhat in excess of 25,000. On Friday, November 20, 1936, at a special meeting of the stockholders stock-holders of the J. C. Penney company, com-pany, the stockholders approved the company's proposal to issue and to sell to qualified associates of the company, at the discretion of the board of directors, 150,000 shares of common stock of which not more than one half will be offered of-fered in any one year. |