Stock dividends

Bibliographic data

Monograph

Identifikator:: 175754061X

URN:: urn:nbn:de:zbw-retromon-136496

Document type:: Monograph

Title:: Stock dividends

Place of publication:: Washington

Publisher:: U.S. Gov. Print. Off.

Year of publication:: 1927

Scope:: vii, 273 S.

Digitisation:: 2021

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Capitalization and dividends for 14 years for corporations reporting stock dividends, 1920 - 1926

Collection:: Economics Books

STOCK DIVIDENDS 7 all these corporations is not available for the two full 7-year periods prior and subsequent to the date of closing nearest January 1, 1920. Only 2,846, or considerably over one-half the total number, furnished this information and this number represents the largest group for which it is possible to compare both stock capitalization and stock dividends for approximately the same periods. Such comparisons are subject to some slight qualification, however, with reference to those corporations which did not close their books as of December 31. The majority of the reports were on a calendar-year basis and in consequence the capitalization at the beginning and end of the two periods and the dividends reported in each period are for exactly the same seven years. Where a corporation reported for the full 14 years but closed its books on other than a calendar-year basis, the dividends reported may have referred to either the fiscal or the calendar year. On the fiscal-year basis the dividends reported in each period would cover the full seven years between the beginning and the ending balance sheets in each period but neither would coin- cide exactly as to time with the capitalization and dividends of the calendar-year companies, even though the dividends in the former case are for a full seven years in each period and the beginning and ending capitalization in each period are exactly seven years apart. Furthermore, if the books were closed on a fiscal-year basis divi- dends may have been reported on a calendar-year basis, in which case the dividends reported cover the same period of time as those of the calendar-year companies, but the capitalization reported for the two periods, though covering seven years in cach case, begins and ends either a little earlier or a little later than those of the calendar year companies. As each of the periods covered, however, is so long and the majority of corporations are on a calendar-year basis, the foregoing discrepancies may be safely disregarded for purposes of statistical comparisons. During the first seven years the increase in stock capitalization of these corporations aggregated only 36.36 per cent, while during the second seven years the increase was 142.27 per cent. This appears from the following table of stock capitalization at the beginning and end of each period: TasLr 3.—Slock capitalization of 2,846 corporations for the seven-year periods beginning and ending as of the closing date nearest to January 1, 1920 FITSE7] YOrS. conn ennecrmes numa aman mmm Becond 7. Years. i ceee rs taanmnrmrinnsnan tram: 14 years... a Stock capitalization Beginning balance sheet Ending balance sheet 1, 580,870,985 $2, 155, 754, 346 2,156, 754,846 5, 222, 673, 092 1, 580, 870, 985 | 5, 222, 673, 092 Inerease Amount Per cent $574, 883, 361 3, 066, 918, 746 | 3 641. 802. 107 36. 36 142.27 230.37

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