(This article was originally published Monday.)
--Limited Brands, TD Ameritrade and others declare special
dividends
--PetSmart, Paychex are among those accelerating their dividend
payouts
--Many companies cite impending fiscal cliff as the reason
By Saabira Chaudhuri and Nathalie Tadena
Limited Brands Inc. (LTD), PetSmart Inc. (PETM) and TD
Ameritrade Holding Corp. (AMTD) are among a growing list of
companies that have declared special dividends or accelerated their
dividend payouts ahead of next year's possible "fiscal-cliff."
In January, several hundred billion dollars in automatic tax
increases and spending cuts--dubbed the fiscal cliff--will begin if
Congress and the White House don't intervene. The increases include
a higher tax rate on dividends, and dozens of companies have
approved one-time special dividend payments for December, while
others have moved their quarterly payouts to December instead of
early 2013.
Retailer Limited unveiled a special dividend of $3 a share,
which will be paid on Dec. 26.
EMagin Corp. (EMAN), which develops virtual imaging and organic
light-emitting diodes, said its board has authorized a special
dividend of 10 cents a share, payable on Dec. 26.
Clothing maker Perry Ellis International Inc. (PERY) and nut and
dried-fruit products company John B. Sanfilippo & Son Inc.
(JBSS) will both pay special dividends of $1 a share on Dec.
28.
Texas Roadhouse Inc. (TXRH), a casual dining steak restaurant
operator, and Emclaire Financial Corp. (EMCF), the parent company
of Farmers National Bank of Emlenton, both said they would pay
special dividends of 10 cents a share on Dec. 28.
U.S. Silica (SLCA) will issue a special dividend of 50 cents a
share on Dec. 28. Depending on the upcoming resolution of the
federal tax policy on dividends, the industrial mineral producer
said it may consider instituting a quarterly dividend in the
future.
Air medical transportation company Air Methods Corp. (AIRM)
declared a special dividend of $7 a share, while Almost Family Inc.
(AFAM), a provider of nursing and personal care services, unveiled
a special payout of $2 a share. Shiloh Industries Inc. (SHLO),
which supplies steel blanks for the automotive and heavy truck
industries, said it will pay a special dividend of 25 cents a
share. Air methods, Almost Family and Shiloh's special dividends
will also be paid on Dec. 28.
CYS Investments Inc. (CYS) declared a special dividend of 52
cents a share to distribute the remaining real estate investment
trust taxable income earned during the year. The special payout, as
well as the REIT's quarterly dividend of 40 cents a share for the
fourth quarter, will be paid on Dec. 28.
Ikonics Corp. (IKNX) will pay a special dividend of $1 a share,
the first cash dividend in the imaging technology company's
history, on Dec. 31.
Green-energy company Rentech and retail industry supply
solutions marketer Core-Mark Holding Co. Inc. (CORE) have both
declared a 19 cent a share special dividend. Rentech's will be paid
Dec. 27, while Core-Mark's will be paid Dec. 31.
Ameritrade and CapitalSource Inc. (CSE) both declared a 50 cent
per-share special dividend that will be paid Dec. 31 and Dec. 26,
respectively.
Multimedia entertainment retailer Hastings Entertainment Inc.
(HAST) said its board has approved a 35 cent per-share special
dividend, payable on Dec. 31.
Meanwhile, Coherent Inc. (COHR) declared a per-share special
dividend of $1, as did Interactive Brokers Group Inc. (IBKR).
Coherent's is payable Dec. 27, while Interactive's is payable Dec.
28.
"Given the unique uncertainty surrounding future tax rates, we
elected to return money to our stockholders by way of a special
one-time dividend," Coherent Chief Executive John Ambroseo
said.
PetSmart said it is accelerating its quarterly dividend of 16.5
cents a share to Dec. 31. The pet-products retailer would normally
have paid its fourth-quarter dividend in February.
Paychex Inc. (PAYX), which provides payroll and human resource
services to small- and medium-sized businesses, will pay its fiscal
third and fourth-quarter dividends totaling 66 cents a share on
Dec. 28. It otherwise would have paid the dividends in February and
May.
Steel-processing and metal-products company Worthington
Industries Inc. (WOR) is also accelerating its third and fourth
quarter dividends totaling 26 cents a share, to be paid on Dec.
28.
Consol Energy Inc. (CNX) accelerated the payment of its regular
quarterly dividend of 12.5 cents a share to Dec. 28.
Financial holding company Fulton Financial Corp. (FULT) moved up
the payment of its January quarterly cash dividend to Dec. 27.
A. Schulman Inc. (SHLM), a maker of plastic compounds and
resins, said it will pay its regular cash dividend of 19.5 cents a
share on Dec. 31, in lieu of the dividend it would have otherwise
paid after release its first-quarter results in January.
Ennis Inc. (EBF) has accelerated its third- and fourth-quarter
cash dividends, totaling 35 cents a share. These will be paid Dec.
28, rather than in 2013.
Cardinal Financial Corp. (CFNL) has raised its quarterly
dividend by 25% to five cents a share for the first quarter of
2013, and accelerated its payment to Dec. 28.
RF Industries Ltd. (RFIL) said its board will accelerate a
portion of its anticipated 2013 dividend payments into the current
calendar year. The company, which makes products like medical
cabling, fiber optic cable, and radio frequency connectors, will
pay a per-share dividend of 10 cents Dec 28.
NB&T Financial Group Inc. (NBTF) has accelerated its 30 cent
per-share dividend, also to Dec. 28, citing the potential dividend
tax increase.
Write to Saabira Chaudhuri at saabira.chaudhuri@dowjones.com and
Nathalie Tadena at nathalie.tadena@dowjones.com
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