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[Hamilton Manufacturing Company meeting minutes, 1941-1947]
(1941-1947)

1941


'84,000 of undistributed earnings for 1941 and also a balawce
in the earned surplus account; that no dividend can be de-
clared on the common stock until after the Class A Prefer-
ential participating stock has received a total dividend out
of 1941 earnings of $1.00 per share. Following a discussion,
Director H. G. Evans offered the following resolution:
"WHEREAS, it appears that the net earnings of the cor-
poration for the first quarter of the year 1941 will be
in excess of $100,000 after depreciation, bond interest
and estimated taxes on income, and
WHEREAS, all accumulated dividends on the First Preferred
stock of the corporation have been paid to date and quar-
terly dividends have been paid on the First Preferred and
Class A Preferential Participating stocks of the corpora-
tion to December 31, 1940, and
WHEREAS, a quarterly dividend of 1a on the First Preferred.
$100 par stock and a quarterly dividend of 25  per share o-.
the Class A Preferential Participating stock would require
approximately $16,717.50, leaving an excess of $84,000 of
undistributed earnings for 1941 and also a balance in the
earned surplus account, now therefore
BE IT RESOLVED, that this corporation pay a dividend of I1%
payable in cash, on the outstanding First Preferred $100
par value stock of the corporation, this cash dividend being
paid on March 28, 1941 from earnings of the year 1941, to
all stockholders of record at the close of business on
March 21, 1941, said dividend covering the period from
January 1, 1941 to March 31, 1941.
RESOLVED FURTHER, that this corporation pay a dividend of 25
per share, payable in cash, on the outstanding Class A Prefer-
ential Participating stock of the corporation, said cash divi-
dend being paid on March 28, 1941, from earnings of the year
1941, to all stockholders of record at the close of business
on March 21, 1941.
I


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