Salt Lake Telegram | 1932-06-03 | Page 19 | Few Dividends June Forecast

JEW FEW DIVIDENDS JUNE FORECAST I Thirty Four Companies Expected Expected Ex Ex- 1 to Pass orCut or orCut Cut Payments McCONNELL B Bv By FRANK n. n tJ Press Financial Writer V NEW EW YORK June 3 P June JP-June June i is 1 divi- divi f of Wall streets street's important f r months ranking second in fri Im m 4 Knee to the season when so called I f ChrIstmas divIdend meetings ar are lre 1 hc held No less Jess than 52 leading corporations corpora corpora- lions will act on dividend payments this month There will also be meet meet- I jags ings y by directors of oC many sm small U companie com com- l' l 4 panie whose stocks stock are arc not listed orthe on or J the two principal New Ne York ex ex- angeL angeLS S Awhile While forecasting probable dividend divi- divi dead actions is admittedly precarious I fn statisticians statisticians are obliged i to attempt to determine the abilities One such statistician forecasts fore forc- SS casts that 11 corporations this month monti will pay their regular rates Fourteen companies this authority calculates will omit their dividend l payments while 20 companies arc expected to reduce their schedules I Of nf the remaining seven companies their probable action falls in the cate cate- gor tory gory of uncertain In some cases case casesi i it is probable that the directors themselves themselves them them- selves are arc not certain whether they the I should omit cut or pay the regular regula quarterlY rates I Among the principal dividend meetings scheduled this month are arc Standard Gas and Electric Western Westeri UnIon Air Reduction National Steel Westinghouse Electric American Gas and Electric New Haven preferred Otis Elevator Pullman Pacific Gas and Electric Sears Scars Roebuck Electric Elec Elec- I Inc Power and Light Northern PacifiC Pacific Par Pa- Pa r Corn Products Allied Chemical Chem Chern ical Jeal American Can and Westinghouse Westinghouse house Electric Auburn Auto directors decide tomorrow to tomorrow tomorrow to- to morrow on dividend payments The They were voted last quarter on the basis of 1 in cash and 2 per cent in stock on the thc outstanding common Total dividend payments by all American corporations reached their zenith in 1930 although business downturn had started the year be be- fore Dividend payments that year totaled or an average monthly rate of oC In 1931 the total was or at It a month a rate In the first four months of oC this year the total was or at a month a pace This rate has been reduced substantially in recent weeks Changes announced last week for instance included a reduction by the General Electric i company and omission of all dividends divi deeds by the Cities Service corpora corpora- tion lion