EARNINGS: Stockholders' Delight

For U.S. stockholders, there was good news on all sides as company after company raised dividends. International Business Machines hiked its quarterly dividend on common stock from 60¢ to 75¢. Swift & Co., the nation's largest meat packer, declared a special dividend of 25¢ a share in addition to its regular quarterly dividend of 40¢ a share. Directors of American Tobacco Co. voted an extra dividend of $1 on top of its regular $1 quarterly dividend. American News Co. raised its quarterly dividend from 40¢ to 50¢ a share, Johnson & Johnson from 20¢ to 25¢, Associated Dry Goods...

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