- 16 -
dividends on its outstanding common stock ranging from a low of
$.85 per share in its 1993 fiscal year to a high of $3.21 per
share in its 1998 fiscal year. The total and the per-share cash
dividends paid by TPC in its 1993-2002 fiscal years to its common
and to its nonvoting preferred stockholders is set forth below:
Cash Dividends
Fiscal Total Per Share
Year Cash Dividends Common Preferred*
1993 $2,022,900 $0.85 $6
1994 2,259,900 0.95 6
1995 2,259,900 0.95 6
1996 2,259,900 0.95 6
1997 2,615,400 1.10 6
1998 7,616,100 3.21 6
1999 2,615,400 1.10 6
2000 2,615,400 1.10 6
2001 2,828,700 1.10 6
2002 2,899,800 1.22 6
* TPC only had 1,400 shares of nonvoting preferred
stock and approximately 99 percent of TPC’s cash
dividends paid each year were paid to TPC’s common
stockholders.
As of May of 1998, TPC’s management planned to continue paying
annual cash dividends to its stockholders.
As of the date of decedent’s death in May of 1998, the
management of TPC had no intent to liquidate or to sell TPC.
In the early fall of 1998, in anticipation of the filing of
a Federal estate tax return on behalf of the estate, even though
he lived in Alaska, the executors of the estate hired George E.
Goerig (Goerig), an Alaskan lawyer to appraise and to prepare a
valuation report for the estate’s 20-percent stock interest in
TPC.
Page: Previous 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 NextLast modified: May 25, 2011