GENERAL MOTORS

Poverty Bay Herald, Volume LII, Issue 17157, 6 October 1926, Page 7

GENERAL MOTORS

FORTUNATE SHAREHOLDERS NEW YORK. Aug. 14. The enormous profils of the Genera'. Motors Corporation were passed along to stockholders yesterday, as reported in the Unify Telegraph, by the distribution of 50 per cent, stock dividend, which is equivalent to a payment of £120,000.000, in addition to the regular cash dividend <rf 7 per. cent, per annum. The stock dividend means an increase, of nearly 3,000,000 shares in the common slock, bringing the total of outstanding shaves to about 9,000,000, with a present market value of roughly £369,C09,000. thus placing the corporation in a position of unrivalled supremacy among Aonorhan industrial enterprises. The 7 mu. ednt. cash dividend per year will mean a distribution on the common stock of £12,000,000. In January last the company declared an extra cash dividend of £1 per share, and in July announced another extra 16s nor share. Before the year’s end Wall* Street expects other extra dividends, because it- is the policy of the company to give the shareholders 50 per cent, of the net profits, which are expected to reach £40,000,000 by December.