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Show DECLARE DIVIDEND ON PENNEY STOCK QUARTERLY PAYMENT AMOUNTS TO DOLLAR AND HALF A SHARE Announcement of a quarterly dividend divi-dend on the outstanding ,' Preferred i Stock of the J. C. Penney Company of $1.50 per share declared out of current earnings for quarter ending March 31, is made by Earl C. Sams, j The Board of Directors of the 1 Penney company at a meeting held j February 24, 1928, declared-the dividend divi-dend payable March 31, 1928 to pre-j ferred stockholders of record at the close of business March 20, 1928. ! The announcement follows closely. k , tne publication of the net earnings of the Penney company for the year I ending Dectrnjjer 31, 1027 when the I fisurfe. fur this period were given as :-S,O18.r,:O.O0 ufter deductions for FeJi.-ral taxes as compared to net earnings of .S.rnS.272.00 for the calendar cal-endar year of 1926. Xet earnings, after deductions for preferred stock requirements and applicable ap-plicable to common stock, were $1 -!82,S31 or at the rate of $11.78 per ;;hare on the ounstanding issue of 574,274 shares of common stock. In 1926 rate of JJ10.G2 per share was declared on the common stock. Total sales of the J. C. Penney company for 1927 were $151,957,865 as 'compared with total sales of $115,-C83.023 $115,-C83.023 for 192G, an increase of $36,-274,842. $36,-274,842. t At the close of 1927 there were 954 Penney stores as compared with the total of 745 at the close of 1926, an increase of 209 store units during the year. This marks the largest growth ever registered in one year in the history of the company. |