Dividend Cuts

Two of the biggest U.S. corporations cut their first quarter common stock dividends last week. Chrysler declared $1 against $1.50 last year; Du Pont will pay $1.25 against $1.75. A month ago General Motors declared 50-c-, against $1.

Many smaller companies did the same: Bigelow-Sanford from $1 to 50-c-, Columbia Broadcasting from 45 to 30-c-, West Virginia Pulp from 50 to 25-c-, Lake Shore Mines (gold) from 50 to 20-c-, Toolmaker L. S. Starrett from $1 to 50-c-.

These reductions did not, in all cases, reflect lower profits. Chief explanations: 1) higher taxes; 2) cash must be saved for war work and post-war adjustments.

This file is automatically generated by a robot program, so reader's discretion is required.