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r ,1d0G¢dz 5~ NEW YORK TIMES, /obZ ~~2 Soq q Reynolds Sets Dividend J WINSTON-SALEM, N. C. - R. J. Reynolds Tobacco Co. has declared& a regular quarterly dividend of 90 cents per 3.6 per cent preferred share, pay- able October 1 to holders of record as of Septemeber 10. U. S. Tobacco Raisel On Common Shares United States Tobacco Co• has in~ creased its regular quarterly dividend from 221/2 to 25 cents per commonn share and declared a regular dividend' of 433/4 cents per share on the prefer- red stock. The common stock of the company was split 2-for-1 on April 3 of this year. First payment to st'ockholders under the new quarterly rate will be made on September 16' to stockholders of record on September 3. Under this new dividend rate; payments per year ad- vance from 90 cents to $1 on each common share. Louis A. Bant'le, U. S. Tobacco pres- ident, said earnings by the company have increased every year since 1961, and that with the action just an- nounced, regular dividends have been ~J raised four times during this period ~ and several! extras declared. "our successful acquisition and di- versification program is proving an important factor in our sustained gains," Mr. Bantle said. "Growth is continuing along many lines through- out the parent company, its divisions and subsidiaries, as record sales and earnings for the first half of 1968 indicate." '~ Net' earnings for the first two quar- " t'ers of 1968 totaled $2,722,000,, or 72 ~ cents per common share, compared \ with $2;456,000, or 66 cents per com- mon share for the corresponding per- iod in 1967,, after provision for the 1969 ' tax increases. Per share earnings have been adjusted to reflect the 2- fcir•1 stock aplit. Sales during the first half of this year totaled $31,(320;000,, compared with $30,168,000 a year earlier. August 28, 1968' mer r Zd s even ated, a with roeess- profiti share, in the Fuller auton- Bid United yester- to ac- com- g Coo- . Cole- castro, .t, re- L8M Declares Dividend V Liggett & Myers Inc. has declared a regular quarterly dividend of $1.75 per 7 per cent preferred share, payable October 10 to holders of record as of September 3. UNITED STATES TOBACCO JOURNAL . ^ ~ Au ust 29, 1968 . U.S. CONCERN WINS GALLAHER CONTROI American Tobacco's Offer Succeeda in Britain LONDON, Aug. " 27 (UPI)-- ' Apart The American Tobacco Com- ,~ts, an ging t pany has secured control of phitheate; Gallaher, Ltd~, and one of no produc American's biggest competi- attention tors, Philip Morris, Inc., has tional I made progress in its bid for than the control of another British home. At Mia tobacco companY..Godfre ~ Y dates use Phillips, Ltd. of these The British Board' of Trade niaations, said today iti would not refer 4uarters; the proposed purchase of God- Chicago, frey Phillips to the Monopolies Daley has Commission, thus removin his city . g ~vhat mig7 bne possible obstacle to Philip heaply t Morris's goal. the urbat Philip Morris made a bid on The int Aug. 19 to purchase more than cult to de 99 per cent'of Godfrey Phillips makes. N for approximately $27.5-mil- when Hui lion: nounced In accordance with the terms emerging of its offer to purchase 27,- ~ut they 325,000 Gallaher shares, Amer- ave no N ican Tobacco said it would new factor purchase about 63 per cent of complete i the shares forwarded by each ances d stockholder. American had sho f sought'enough shares to give to er to it a 50 per cent interest. units. I a ten* rehold- emain- -inding ;ompa- de for wealth $1.05 stock, I mt to' Cofi- ;17.25.1 Mr. .o $35 stock 0 pur- i share v yes-{ 4 that nts he liqui- n2 (13) I* ~ F l f 1