1900 1905 1910 1915 1920 1925 1930 1935 1940 1945 U.S. STEEL CORPORATION AND SUBSIDIARIES 1950 10 7 (USS Over the life of United States Steel its income per share for common stock has averaged $2.03, based on the number of shares now outstanding. Losses per share for common stock in 8 years ranged from a few cents to $3.69 per share. No dividends on common stock were declared in 9 years. Dividends on the common stock have averaged about $1.05 per share over the life of the corporation, or about 52 percent of income available for common dividends. The average of United States Steel's rates of return on investment for the years 1902-49 is 5.18 percent. A return of about 5 percent over nearly half a century is proof that profits have not been excessive. For the past 10 years of peace and war the return on investment has averaged less than 6 percent. EXHIBIT S-235 CHART 6.-Distribution of the sales dollar, 1949, United States Steel Corp. and In 1949 about 41 cents out of every dollar of United States Steel's receipts from customers was required for employment costs-wages, salaries, socialsecurity taxes, and pensions; about 39 cents was needed for products and services bought from other employers to carry on the business; about 8 cents was required for taxes to support government; about 5 cents was the cost of wear and exhaustion of plant and other facilities. Of the sales dollar, about 1 cent was needed for meeting dividends on the cumulative preferred stock; between 2 and 3 cents for dividends on the common stock; and the balance, equal to between 3 and 4 cents, was reinvested in the business. EXHIBIT S-236 CHART 7.-Distribution of the sales dollar, 1949 versus 1940, United States Steel Corp. and subsidiaries |