Show Transamerica Annual Dividen Rate to 40 Cen CenI nl I SAN FRANCISCO June 18 UP UP- UP Approximately outstanding shares of Transamerica corporation stock were on a 40 cents a share annual an an- nual basis today as the result of a quarterly dividend of 10 cents da- da dared by directors here In the preceding quarter a dividend divi of 25 cents a share was paid and directors estimated that the lowered low low- erect ered dividend will mean a saving to the corporation of The dividend payable July 25 23 to stockholders of record July 6 will bring payments to as compared com COIn pared with paid in the pre previous sious quarter The directors subject to stockholders stockholders' approval also aljo au authorized au- au a change of the shares to no par value Ellsha Elisha Walker chairman of the board said that a reduction was believed believed be be- necessary because prevailing low interest rates had affected the earnings of subsidiaries but that the profits were considered reasonably satisfactory under existing business business- conditions |