Salt Lake Telegram | 1932-06-29 | Page 14 | Dividends

I I I I I Dividends Directors o of Westinghouse Electric and Manufacturing company omitted the quarterly quarterly terly terl dividend o of 25 cents on the common stock but declared the te regular disbursement of 87 81 cents a share on the preferred In In view o of the earnings situation o of the company corn com pany pan for some sorno little time said a B statement It I was the opinion o of the directors that tho company should hould conserve It It cash re resource resources resources re- re sources source and not further reduce the tho surplus by payment of pf any ani dividend e on the common cornmon corn com mon or stock r tt The e company has s no J outstanding Inc ing bonds or OT bank loans and is 1 in ery very sound financial condition ns as to cash and net quick assets sub Three months ago aso liO th th common common cornmon com corn mon dividend was reduced to 25 cents from 62 cents which had been bern paid for two quarters Prior to that the rate rte had hod been bem bemS SI St S quarterly for tor two periods compared with wih the 15 annual rate of 1920 The preferred r t tord nl tl toT dividend Is U payable f July 30 to stock c of rec record record rec- rec ord Jul July 11 11 1