1908 - Dividend Declared

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Roanoke Times - April 25, 1908

DIVIDEND DECLARED

Directors of N. & W. Met In New Your Thursday

  The Board of Directors of the Norfolk & Western Railway Company, at 
a meeting held in New York Thursday, declared a dividend of 2 per 
cent on the common stock. This is a reduction of one-half of one per 
cent as compared with the dividend of the last previous six months.

   New York, April 24, - Special - The Norfolk & Western Railway 
Company yesterday declared a semi-annual dividend of two per cent on 
its common stock. This is a reduction of one-half of one per cent for 
the six months period, and place the stock again on a four per cent 
annual basis. In October, 1906, the dividend rate was raised from two 
to two and one-half per cent, semi-annually. The dividend declared 
yesterday is payable June 18, to all stockholders of record up to May 29th.
   The action taken is regarded as distinctly bullish, as for some 
time past, grave fears have been entertained that the dividend might 
be cut in two, or entirely passed for a six months period. After the 
result of the meeting became known the stock advanced to $65 per 
share. Stock now purchased on basis of $65 per share net the 
purchaser 6.15 per cent on his investment; and, of course, there is 
also the possibility that with a resumption of general business, the 
five per cent annual rate may be restored.

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- Ron Davis, Roger Link