SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
ANNUAL REPORT TO SECTION 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 1996
Commission file number: 1-11793
A. Full title of the Plan and address of the Plan, if different from that
of the issuer named below:
The Dial Corporation 401(k) Plan for Hourly Employees
B. Name of issuer of the securities held pursuant to the Plan and the
address of its principal executive office:
THE DIAL CORPORATION
1850 NORTH CENTRAL AVENUE
PHOENIX, ARIZONA 85004-4525
SIGNATURE
The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934,
The Dial Corporation 401(k) Plan for Hourly Employees has duly caused this
annual report to be signed on its behalf by the undersigned thereunto duly
authorized.
THE DIAL CORPORATION
401(k) PLAN FOR HOURLY EMPLOYEES
By \s\ Lowell L. Robertson
Lowell L. Robertson
Senior Vice President Finance
DATE: June 24, 1997
THE DIAL CORPORATION 401(k) PLAN
FOR HOURLY EMPLOYEES
Financial Statements for the Years Ended December 31, 1996
and 1995, Supplemental Schedules for the Year Ended
December 31, 1996, and Independent Auditors' Report
<PAGE>
THE DIAL CORPORATION
401(K) PLAN FOR HOURLY EMPLOYEES
TABLE OF CONTENTS
- --------------------------------------------------------------------
Page
INDEPENDENT AUDITORS' REPORT 1
FINANCIAL STATEMENTS AS OF
DECEMBER 31, 1996 AND 1995 AND FOR THE YEARS THEN ENDED:
Net Assets Available for Benefits 2
Changes in Net Assets Available for Benefits 3
Notes to Financial Statements 4-12
SUPPLEMENTAL SCHEDULES AS OF
DECEMBER 31, 1996 AND FOR THE YEAR THEN ENDED:
Assets Held for Investment Purposes 13
Reportable Transactions 14
EXHIBIT 24 - INDEPENDENT AUDITORS' CONSENT 15
<PAGE>
INDEPENDENT AUDITORS' REPORT
Plan Administrator and
Plan Participants of
The Dial Corporation 401(k) Plan for Hourly Employees
Phoenix, Arizona
We have audited the accompanying statements of net assets available for
benefits of The Dial Corporation 401(k) Plan for Hourly Employees (the
"Plan"), formerly The Dial Consumer Products Group 401(k) Plan for Hourly
Employees of Fort Madison and Aurora, as of December 31, 1996 and 1995, and
the related statements of changes in net assets available for benefits for
each of the three years in the period ended December 31, 1996. These financial
statements are the responsibility of the Plan's management. Our responsibility
is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audits provide a reasonable basis
for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for benefits of the Plan as of
December 31, 1996 and 1995, and the changes in net assets available for
benefits for each of the three years in the period ended December 31, 1996 in
conformity with generally accepted accounting principles.
Our audits were conducted for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules for the year
ended December 31, 1996 on pages 13 through 14 are presented for the purpose
of additional analysis and are not a required part of the basic financial
statements, but are supplementary information required by the Department of
Labor's Rules and Regulations for Reporting and Disclosure under the Employee
Retirement Income Security Act of 1974. These schedules are the responsibility
of the Plan's management. Such schedules have been subjected to the auditing
procedures applied in our audit of the basic 1996 financial statements and, in
our opinion, are fairly stated, in all material respects when considered in
relation to the basic financial statements taken as a whole.
\s\ Deloitte & Touche LLP
Deloitte & Touche LLP
Phoenix, Arizona
June 23, 1997
<TABLE>
<CAPTION>
THE DIAL CORPORATION
401(K) PLAN FOR HOURLY EMPLOYEES
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
DECEMBER 31, 1996 AND 1995
- ----------------------------------------------------------------------
<S> <C> <C>
ASSETS 1996 1995
INVESTMENTS AT FAIR VALUE:
Shares of registered investment companies:
Vanguard Windsor II Fund $ 6,957,048 $ 5,023,430
T. Rowe Price Stable Value Fund 3,312,154 3,013,117
Vanguard Fixed Income Securities Fund 1,146,238 1,056,000
Common stock:
The Dial Corp Common Stock Fund - 1,467,184
The Dial Corporation Common Stock Fund 1,088,706 -
The FINOVA Group Inc. Common Stock Fund 107,308 87,393
Viad Corp Common Stock Fund 1,013,058 -
Participant notes receivable 354,374 190,794
----------- -----------
Total investments at fair value 13,978,886 10,837,918
DIVIDENDS RECEIVABLE 10,806 -
CONTRIBUTIONS RECEIVABLE 27,108 54,777
----------- -----------
NET ASSETS AVAILABLE FOR BENEFITS $14,016,800 $10,892,695
=========== ===========
</TABLE>
See notes to financial statements.
<TABLE>
THE DIAL CORPORATION
401(K) PLAN FOR HOURLY EMPLOYEES
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
YEARS ENDED DECEMBER 31, 1996, 1995 AND 1994
- ---------------------------------------------------------------------------------------
<CAPTION>
<S> <C> <C> <C>
1996 1995 1994
ADDITIONS:
Contributions:
Employer $ 154,467 $ 119,283 $ 94,235
Employee pre-tax 1,661,313 1,296,899 1,046,785
Employee after-tax 85,118 59,932 44,560
----------- ----------- -----------
Total contributions 1,900,898 1,476,114 1,185,580
----------- ----------- -----------
Investment income:
Dividends 610,129 370,891 224,582
Interest 205,813 177,633 138,173
Net appreciation (depreciation) in fair value
of investments 934,868 1,557,968 (227,582)
----------- ----------- -----------
Total investment income 1,750,810 2,106,492 135,173
----------- ----------- -----------
Transfer of assets 7,669 1,151,904 -
----------- ----------- -----------
Total additions 3,659,377 4,734,510 1,320,753
DEDUCTIONS - Benefits paid to participants 535,272 666,518 181,976
----------- ----------- -----------
NET INCREASE 3,124,105 4,067,992 1,138,777
NET ASSETS AVAILABLE FOR BENEFITS,
BEGINNING OF YEAR 10,892,695 6,824,703 5,685,926
----------- ----------- -----------
NET ASSETS AVAILABLE FOR BENEFITS,
END OF YEAR $14,016,800 $10,892,695 $6,824,703
=========== =========== ===========
See notes to financial statements.
</TABLE>
THE DIAL CORPORATION
401(K) PLAN FOR HOURLY EMPLOYEES
NOTES TO FINANCIAL STATEMENTS
YEARS ENDED DECEMBER 31, 1996 AND 1995
- ------------------------------------------------------------------------------
1. DESCRIPTION OF THE PLAN
The following brief description of the Dial Corporation 401(k) Plan for
Hourly Employees (the "Plan"), formerly The Dial Consumer Products Group
401(k) Plan for Hourly Employees at Fort Madison and Aurora, is provided for
general information purposes only. Participants should refer to the Plan
agreement for more complete information.
The Plan, commonly known as the Planning Retirement Income Management
Earnings Plan ("PRIME"), was established October 1, 1991. Employees of certain
facilities of The Dial Corporation (the "Company") who are covered by a
collective bargaining agreement are eligible to participate in the Plan after
completing at least 1,000 hours of service in a twelve consecutive month
period. Employees are able to contribute to the Plan by reducing their wages
on a pre-tax basis, and make after-tax contributions, subject to certain
limitations.
The Plan is subject to various regulations, particularly those under
Internal Revenue Code Section 401(k) and the Employee Retirement Income
Security Act of 1974 ("ERISA").
a. Investment Programs - Contributions to the Plan are invested by
the Plan's trustee, T. Rowe Price, at the designation of the participants. The
Plan has offered participants the following funds in which to invest pre-tax,
after-tax and rollover deposits.
1) VANGUARD WINDSOR II FUND - This fund invests in the common stock
of selected companies. The fair value of the fund is dependent upon the market
value of the stocks. Any dividends received are reinvested.
2) T. ROWE PRICE STABLE VALUE FUND - This fund invests in a
diversified portfolio of Guaranteed Investment Contracts ("GIC") issued by
insurance companies, bank investment contracts issued by financial
institutions, and strategic investment contracts issued by insurance
companies, financial institutions and other entities. Income is earned based
upon a blended interest rate determined by the various investments and is
reinvested. The fair value of the fund approximates contract value which
includes contributions made, plus interest at blended rates, less withdrawals
by participants. Crediting interest rates for the fund's underlying GICs
ranged from 4.75% to 8.41%, allowing for a blended rate of return for the fund
for 1996 of 6.55%.
<PAGE>
3) VANGUARD FIXED INCOME SECURITIES FUND - This fund invests
primarily in Government National Mortgage Association ("GNMA") certificates.
These securities represent ownership in pools of approved mortgage loans which
provide a yield based on the ratios of return of the GNMA holdings that
comprise the portfolio. The fair value of the fund is dependent upon
fluctuations in market conditions.
4) THE DIAL CORP COMMON STOCK FUND - This fund invested in the common
stock of The Dial Corp and any dividends paid on the stock were reinvested in
the fund. On August 15, 1996, The Dial Corporation ("Dial") was spun off from
Viad Corp ("Viad"), formerly The Dial Corp. Effective August 15, 1996,
participants in this fund received an equal number of shares or partial shares
of Viad Corp Common Stock and The Dial Corporation Common Stock for every
share or partial share of The Dial Corp stock they held in their accounts. As
of August 15, 1996, this fund has been closed and all assets have been
transferred to the Viad and Dial Common Stock Funds.
5) THE DIAL CORPORATION COMMON STOCK FUND - This fund invests in the
common stock of Dial and any dividends paid on the stock are reinvested in the
fund. The fair value of this fund is dependent upon the fluctuations in the
market value of Dial stock.
6) THE FINOVA GROUP INC. ("FINOVA") COMMON STOCK FUND - This fund
invests in the common stock of FINOVA. Due to this fund being closed to
additional contributions, any dividends paid on the stock are reinvested
according to the participant's contribution mix. The fair value of this fund
is dependent upon the fluctuation in the market value of FINOVA stock.
7) VIAD CORP COMMON STOCK FUND - This fund invests in the common
stock of Viad. Due to this fund being closed to additional contributions, any
dividends paid on the stock are reinvested according to the participant's
contribution mix. The fair value of this fund is dependent upon the
fluctuation in the market value of Viad stock.
b. Contributions - Voluntary wage reductions may be elected by the employee.
These pre-tax reductions are contributed to the Plan and may range from 1% to
12% of compensation. Company matching contributions will be 25% of wage
reductions up to a certain maximum contribution per week. Each employee may
elect an after-tax contribution of between 1% and 10% of compensation. No
Company matching contributions are made based on after-tax contributions. All
contributions are limited to the applicable amounts as prescribed by the
Internal Revenue Code.
c. Transfer of Assets - Effective June 30, 1995, assets representing the
account balances of certain of the participants in The Dial Corporation 401(k)
Plan, commonly known as the Taxsaver Investment Plan ("TIP"), were transferred
to the Plan.
d. Payment of Benefits - Benefits are paid to participants upon termination
from the Company, disablement, retirement or death.
e. Participant Loans and Hardship Withdrawals - Effective September 1, 1995,
the Plan was amended to allow participants covered by the collective
bargaining agreements at Fort Madison and Aurora to borrow against their
401(k) account balances in an amount not to exceed the lesser of 50% of their
vested balance or $50,000. The applicable interest rate is determined by the
committee responsible for administering the Plan and shall be equal to the
prime rate in effect the first business day of the preceding month for the
subsequent quarter. Loans shall be repaid in equal installments over a period
of up to five years, except for loans for purchasing a home which can be
repaid over a maximum of 15 years. Withdrawals of employee wage reduction
contributions, after-tax contributions and rollover deposits, may be made by
the participant in the event of a qualified financial hardship, subject to
certain tax penalties. Such withdrawals will only be considered necessary to
satisfy a financial hardship if all nontaxable loans available under the Plan
have already been obtained.
f. Vesting - All contributions to the Plan are 100% vested and nonforfeitable
at all times.
g. Participant Accounts - For each participant, various accounts are
maintained to record wage reduction contributions, Company matching
contributions, after-tax contributions, participant rollover deposits
transferred to the Plan, dividend and interest income and the net
appreciation/depreciation in the fair value of Plan investments. The benefit
to which a participant is entitled is the total benefit which can be provided
from the combined amount of these participant accounts less participant loans.
h. Plan Administration - The Plan is administered by a committee of at least
three persons appointed by the President of the Company. Expenses incident to
the operation of the Plan may be paid by the Plan or directly by the Company.
For the years ended December 31, 1996, 1995, and 1994, Plan expenses were paid
directly by the Company.
i. Plan Termination - While it is the Company's intention to continue the
Plan, the Company has the right to terminate the Plan provided that any
employer contributions due at the termination date have been paid.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Significant accounting policies are as follows:
a. Basis of Accounting - The financial statements of the Plan are prepared
under the accrual method of accounting.
b. Investment Valuation and Income Recognition - The Plan's investments are
stated at fair value. Shares of registered investment companies are valued at
quoted market prices which represent the net asset value of shares held by the
Plan at year-end. Common stock is valued at its quoted market price. Purchases
and sales of securities are recorded on a trade-date basis. Interest income is
recorded on the accrual basis. Dividends are recorded on the ex-dividend date.
c. Payment of Benefits - Benefits are recorded when paid.
d. Use of Estimates - The preparation of financial statements in conformity
with generally accepted accounting principles requires management to make
estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosures at the date of the financial statements and the
reported amounts of additions and deductions during the reporting period.
Actual results could differ from those estimates.
<PAGE>
3. NET ASSETS BY FUND
The following tables present the net assets of the Plan by fund as of December
31, 1996 and 1995:
<TABLE>
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
DECEMBER 31, 1996
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C>
THE
T. ROWE VANGUARD THE DIAL FINOVA VIAD
PRICE FIXED CORPORATION GROUP INC. CORP
VANGUARD STABLE INCOME COMMON COMMON COMMON PARTICIPANT
WINDSOR VALUE SECURITIES STOCK STOCK STOCK NOTES
II FUND FUND FUND FUND FUND FUND RECEIVABLE
---------- ---------- ----------- ------------ ----------- ---------- ------------
ASSETS
Investments at fair value:
Shares of registered
investment companies:
Vanguard Windsor II Fund $6,957,048
T. Rowe Price Stable Value Fund $3,312,154
Vanguard Fixed Income
Securities Fund $ 1,146,238
Common stock:
Dial Common Stock $ 1,088,706
FINOVA Common Stock $ 107,308
Viad Common Stock $1,013,058
Contributions receivable 11,832 6,004 3,439 5,833
Dividends receivable 5,705 134 4,967
Participant notes receivable $ 354,374
---------- ---------- ----------- ------------ ----------- ---------- ------------
NET ASSETS AVAILABLE
FOR BENEFITS $6,968,880 $3,318,158 $ 1,149,677 $ 1,100,244 $ 107,442 $1,018,025 $ 354,374
========== ========== =========== ============ =========== ========== ============
<S> <C>
TOTAL
-----------
ASSETS
Investments at fair value:
Shares of registered
investment companies:
Vanguard Windsor II Fund $ 6,957,048
T. Rowe Price Stable Value Fund 3,312,154
Vanguard Fixed Income
Securities Fund 1,146,238
Common stock:
Dial Common Stock 1,088,706
FINOVA Common Stock 107,308
Viad Common Stock 1,013,058
Contributions receivable 27,108
Dividends receivable 10,806
Participant notes receivable 354,374
-----------
NET ASSETS AVAILABLE
FOR BENEFITS $14,016,800
===========
</TABLE>
<TABLE>
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
DECEMBER 31, 1995
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C>
THE
T. ROWE VANGUARD THE DIAL FINOVA
PRICE FIXED CORP GROUP INC.
VANGUARD STABLE INCOME COMMON COMMON PARTICIPANT
WINDSOR VALUE SECURITIES STOCK STOCK NOTES
II FUND FUND FUND FUND FUND RECEIVABLE TOTAL
---------- ---------- ----------- ---------- ----------- ------------ -----------
ASSETS
Investments at fair value:
Shares of registered
investment companies:
Vanguard Windsor II Fund $5,023,430 $ 5,023,430
T. Rowe Price Stable Value Fund $3,013,117 3,013,117
Vanguard Fixed Income
Securities Fund $ 1,056,000 1,056,000
Common stock:
The Dial Corp Common Stock $1,467,184 1,467,184
FINOVA Common Stock $ 87,393 87,393
Contributions receivable 23,486 14,173 6,628 10,490 - 54,777
Participant notes receivable $ 190,794 190,794
---------- ---------- ----------- ---------- ----------- ------------ ------------
NET ASSETS AVAILABLE
FOR BENEFITS $5,046,916 $3,027,290 $ 1,062,628 $1,477,674 $ 87,393 $ 190,794 $10,892,695
========== ========== =========== ========== =========== ============ ===========
</TABLE>
<PAGE>
4. FUND INFORMATION
Employer contributions, employee pre-tax contributions, employee after-tax
contributions, dividend income, interest income, net appreciation
(depreciation) in fair value of investments, benefits paid to participants and
transfer of assets are as follows for the years ended December 31, 1996, 1995
and 1994:
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Employer contributions: 1996 1995 1994
----------- ---------- -----------
Vanguard Windsor II Fund $ 63,331 $ 45,229 $ 33,994
T. Rowe Price Stable Value Fund 42,028 37,039 34,737
Vanguard Fixed Income Securities Fund 19,449 16,458 13,909
The Dial Corp Common Stock Fund 16,595 20,557 11,595
The Dial Corporation Common Stock Fund 12,383 - -
Viad Corp Common Stock Fund 681 - -
----------- ---------- -----------
Total $ 154,467 $ 119,283 $ 94,235
=========== ========== ===========
Employee pre-tax contributions
Vanguard Windsor II Fund $ 725,506 $ 530,474 $ 406,231
T. Rowe Price Stable Value Fund 421,163 391,125 376,929
Vanguard Fixed Income Securities Fund 195,008 162,908 143,281
The Dial Corp Common Stock Fund 171,946 212,392 120,344
The Dial Corporation Common Stock Fund 140,195 - -
Viad Corp Common Stock Fund 7,495 - -
----------- ---------- -----------
Total $1,661,313 $1,296,899 $1,046,785
=========== ========== ===========
Employee after-tax contributions:
Vanguard Windsor II Fund $ 41,800 $ 23,855 $ 19,174
T. Rowe Price Stable Value Fund 21,467 19,173 16,780
Vanguard Fixed Income Securities Fund 6,845 5,416 5,684
The Dial Corp Common Stock Fund 8,600 11,488 2,922
The Dial Corporation Common Stock Fund 6,024 - -
Viad Corp Common Stock Fund 382 - -
----------- ---------- -----------
Total $ 85,118 $ 59,932 $ 44,560
=========== ========== ===========
Dividend income:
Vanguard Windsor II Fund $ 486,473 $ 283,668 $ 164,229
Vanguard Fixed Income Securities Fund 76,222 64,432 46,151
The Dial Corp Common Stock Fund 24,954 21,470 13,097
The Dial Corporation Common Stock Fund 10,696 - -
The FINOVA Group Inc. Common
Stock Fund 1,693 1,321 1,105
Viad Corp Common Stock Fund 10,091 - -
----------- ---------- -----------
Total $ 610,129 $ 370,891 $ 224,582
=========== ========== ===========
Interest income:
T. Rowe Price Stable Value Fund $ 185,415 $ 177,109 $ 138,173
Participant Notes Receivable 20,398 524 -
----------- ---------- -----------
Total $ 205,813 $ 177,633 $ 138,173
=========== ========== ===========
Net appreciation (depreciation) in fair value
of investments:
Vanguard Windsor II Fund $ 809,756 $1,053,674 $ (198,244)
Vanguard Fixed Income Securities Fund (21,098) 79,179 ( 51,671)
The Dial Corp Common Stock Fund (435,098) 394,433 17,930
The Dial Corporation Common Stock Fund 246,081 - -
The FINOVA Group Inc. Common
Stock Fund 27,426 30,682 4,403
Viad Corp Common Stock Fund 307,801 - -
----------- ---------- -----------
Total $ 934,868 $1,557,968 $ (227,582)
=========== ========== ===========
Transfer of assets:
Vanguard Windsor II Fund $ 5,673 $ 526,192 $ -
T. Rowe Price Stable Value Fund 802 207,113 -
Vanguard Fixed Income Securities Fund - 131,545 -
The Dial Corp Common Stock Fund - 275,367 -
The Dial Corporation Common Stock Fund 1,194 - -
The FINOVA Group Inc. Common
Stock Fund - 11,687 -
----------- ---------- -----------
Total $ 7,669 $1,151,904 $ -
=========== ========== ===========
Benefits paid to participants:
Vanguard Windsor II Fund $ 213,085 $ 145,237 $ 94,107
T. Rowe Price Stable Value Fund 190,568 389,827 57,504
Vanguard Fixed Income Securities Fund 40,995 74,250 27,337
The Dial Corp Common Stock Fund 43,286 55,200 2,673
The Dial Corporation Common Stock Fund 20,687 - -
The FINOVA Group Inc. Common
Stock Fund 5,088 2,004 355
Viad Corp Common Stock Fund 21,563 - -
----------- ---------- -----------
Total $ 535,272 $ 666,518 $ 181,976
=========== ========== ===========
</TABLE>
5. RELATED PARTY TRANSACTIONS
Plan investments include shares of the T. Rowe Price Stable Value Fund managed
by T. Rowe Price. T. Rowe Price is the trustee as defined by the Plan and,
therefore, these transactions qualify as party-in-interest.
6. FEDERAL INCOME TAX STATUS
The plan obtained its latest determination letter on March 12, 1996, in which
the Internal Revenue Service stated that the plan, as then designed, was in
compliance with the applicable requirements of the Internal Revenue Code. The
plan has been amended since receiving the determination letter. However, the
plan administrator and the plan's tax counsel believe that the plan is
currently designed and being operated in compliance with the applicable
requirements of the Internal Revenue Code. Therefore, no provision for income
taxes has been included in the plan's financial statements.
<PAGE>
<TABLE>
THE DIAL CORPORATION
401(K) PLAN FOR HOURLY EMPLOYEES
SUPPLEMENTAL SCHEDULE
DECEMBER 31, 1996
- --------------------------------------------------------------------------------------------
ITEM 27A - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
<CAPTION>
<S> <C> <C> <C>
COLUMN B COLUMN C COLUMN D COLUMN E
- ------------------------------- --------------------------------- ----------- -----------
Description of Investment
Identity of Issue, Including Collateral, Rate of
Borrower, Lessor or Interest, Maturity Date, Current
Similar Party Par or Maturity Value Cost Value
- ------------------------------- --------------------------------- ----------- -----------
Vanguard Windsor II Fund Common Stock Fund
(291,945 shares) $ 5,247,061 $ 6,957,048
T. Rowe Price Stable Value Fund GIC Fund (299,040 shares) 3,312,154 3,312,154
Vanguard Fixed Income
Securities Fund GNMA Fund (112,156 shares) 1,139,511 1,146,238
The Dial Corporation Common Stock (73,811 shares) 846,965 1,088,706
The FINOVA Group Inc. Common Stock (1,670 shares) 22,818 107,308
Viad Corp Common Stock (61,866 shares) 711,467 1,013,058
Participant Notes Receivable Participant loans
(Interest at 8.25% to 9.00%,
maturing from 1997 to 2012) 354,374 354,374
----------- -----------
Total Total assets held for investment
purposes $11,634,350 $13,978,886
=========== ===========
</TABLE>
<PAGE>
<TABLE>
THE DIAL CORPORATION
401 (K) PLAN FOR HOURLY EMPLOYEES
SUPPLEMENTAL SCHEDULE
YEAR ENDED DECEMBER 31, 1996
ITEM 27D - SCHEDULE OF REPORTABLE TRANSACTIONS
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
COLUMN A COLUMN B COLUMN C COLUMN D COLUMN G COLUMN H COLUMN I
IDENTITY DESCRIPTION PURCHASE SELLING COST OF CURRENT
OF OF PRICE PRICE ASSET VALUE OF NET
PARTY ASSET ASSET ON GAIN
INVOLVED TRANSACTION OR
DATE (LOSS)
SINGLE TRANSACTIONS
None
SERIES OF TRANSACTIONS
Common
The Dial Corp Stock Fund $ 437,597 - $ 437,597 $ 437,597 -
- ------------------------ ----------- ---------- ---------- ---------- ------------ ----------
Common
The Dial Corp Stock Fund - $1,469,684 1,428,125 1,469,684 $ 41,559
- ------------------------ ----------- ---------- ---------- ---------- ------------ ----------
Vanguard Windsor II Fund Mutual Fund 1,427,297 - 1,427,297 1,427,297
- ------------------------ ----------- ---------- ---------- ---------- ------------ ----------
Vanguard Windsor II Fund Mutual Fund - 303,435 222,101 303,435 81,334
- ------------------------ ----------- ---------- ---------- ---------- ------------ ----------
Common
The Dial Corporation Stock Fund 865,129 - 865,129 865,129 -
- ------------------------ ----------- ---------- ---------- ---------- ------------ ----------
Common
The Dial Corporation Stock Fund - 22,496 19,060 22,496 3,436
- ------------------------ ----------- ---------- ---------- ---------- ------------ ----------
Common
Viad Corp Stock Fund 740,462 - 740,462 740,462 -
- ------------------------ ----------- ---------- ---------- ---------- ------------ ----------
Common
Viad Corp Stock Fund - 35,205 18,874 35,205 16,331
- ------------------------ ----------- ---------- ---------- ---------- ------------ ----------
T. Rowe Price
Stable Value Fund GIC Fund 560,564 - 560,564 560,564 -
- ------------------------ ----------- ---------- ---------- ---------- ------------ ----------
T. Rowe Price
Stable Value Fund GIC Fund - - 261,523 261,523 -
- ------------------------ ----------- ---------- ---------- ---------- ------------ ----------
</TABLE>
NOTE: REPORTABLE TRANSACTIONS ARE THOSE TRANSACTIONS WHICH EITHER
SINGULARLY OR IN SERIES OF COMBINED PURCHASES AND SALES DURING THE YEAR
EXCEEDED 5% OF THE FAIR VALUE OF THE PLAN'S ASSETS AT THE BEGINNING OF THE
YEAR.
EXHIBIT 24
INDEPENDENT AUDITORS' CONSENT
We consent to the incorporation by reference in Registration Statement No.
333-10157 of The Dial Corporation on Form S-8 of our report dated June 23,
1997, appearing in this Annual Report on Form 11-K of The Dial Corporation
401(k) Plan for Hourly Employees for the year ended December 31, 1996.
\s\ DELOITTE & TOUCHE LLP
DELOITTE & TOUCHE LLP
Phoenix, Arizona
June 23, 1997
