Pays Big Stock Dividend.
|Topics: General Motors
The New York Times
October 30, 1909
General Motors Company Distributes 1½ Shares for Every One Now Held.
Holders of the common stock of the General Motors Company, of which there is now $5,500,000 outstanding, will receive on Nov. 15 additional common shares at the rate of one and one-half for every one now held.  This stock dividend of 150 per cent. was declared yesterday as payable to stockholders of record of Nov. 4, and it will be paid out of the increase of $34,500,000 recently made in the common stock.  The capital of the General Motors Company, which at the time of its organization about a year ago was $7,000,000 7 per cent. preferred and $5,500,000 common, was recently increased to $20,000,000 preferred and $40,000,000 common.  The preferred shares have received 7 per cent. dividends since the company's organization, but the common has as yet receieved no cash dividend, it being the company's policy to put the funds available back into the business, which is being constantly extended.
The General Motors Company, which is a holding company originally combining the Rainier, the Olds, the Buick and other automobile manufacturing concerns, now controls thirteen motor companies and is planning to extend its holdings.
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