U.S. STEEL TRUST

Grey River Argus, 28 April 1932, Page 5

U.S. STEEL TRUST

Fails to Pay Dividend SLUMP IN SHARES. (Aus. & N.Z. Cable Assn - ). (Received April 27 at 9. p.m.) NEW YORK. April 26. The United States Steel Corporation called “the world’s largest corporation,’’ to-day omitted the dividend on its common stock for the first time since the year 1915. However, the Corporation declared its regular dividend on the preferred stock. A report, issued concurrently, reveals tnat the losses sustained in the first three months of 1932 were 13,318,549 dollars. Following on the slump of 1915, the Corporation resumed payment On its five-dollar p'er share yearly basis until 1926, when the dividend was increased (o seven dollars. In September of 1931 it was reduced to four dollars, and in January of this year to two dollars. The announcement of the dividend omission came after the close of the Stock Exchange, where the common stocks were quoted at 28 7-8 dollars, compared with 261 dollars early in 1929. Further declines are expected on tomorrow’s trading.