insane dividends

[wzebra33]

MKTX NEW YORK (AP) — Electronic trading platform MarketAxess's board has approved a special dividend of $1.30 per share, a move many companies are taking ahead of potential tax increases in 2013.

If the White House and Republican congressional leaders can't strike a deal on taxes and spending cuts, tax rates on dividend income will rise. That's prompted many companies to review their policies on payouts for shareholders, setting special one-time payments in December or moving up payments originally slated for 2013 to this year.

MarketAxess Holdings Inc. said Wednesday that the special dividend will be paid on Dec. 27 to shareholders of record on Dec. 14. Based on the company's shares outstanding, the total payout will be about $50 million.

[wzebra33]

The ProAssurance Corporation (NYSE: PRA) Board of Directors has authorized a 2-for-1 stock split. Following the split, shareholders will also receive a special dividend of $2.50 per common share and a regular dividend of $0.25 per common share.

The stock split will be in the form of a 100% stock dividend, payable on December 27, 2012, to shareholders who own our stock as of December 17, 2012. The same record and payment dates will apply to the $2.50 per common share special dividend and the regular dividend, both of which will be paid on total shares held after the stock split. This accelerated payment of the regular quarterly dividend will replace the dividend that would normally be paid in January 2013.

[wzebra33]

PRNewswire/ -- The Board of Directors of Dick's Sporting Goods, Inc. (NYSE: DKS) has declared a special cash dividend of $2.00 per share on the Company's Common Stock and Class B Common Stock, payable on December 28, 2012, to stockholders of record at the close of business on December 17, 2012. The special dividend payment, which is expected to be funded from the Company's excess cash on hand, is in addition to the previously announced quarterly dividend of $0.125 per share payable on December 28, 2012, to stockholders of record at the close of business on November 30, 2012.
PR Newswire (http://s.tt/1w09C)

[wzebra33]

PRNewswire/ -- Diamond Hill Investment Group, Inc. (NASDAQ: DHIL) today announced that its board of directors has approved an $8.00 per share special cash dividend to shareholders of record on December 17, 2012 payable December 21, 2012. The company will finalize tax characterization of the dividend in February 2013 and expects a portion will be return of capital.
PR Newswire (http://s.tt/1w09D)

[wzebra33]

Nothing from my alert feed,the stock is up a lot today.It trades on a low PE

[diannedawn]

Hey Guitarman...
I'll bet you're sure SORRY about buying that LPHI stock!!!

After I had the audacity to mention it here on 10/22 (@$2.30ish)
it is now looking to hit $3...
just the other day they "announced that it would pay a quarterly dividend of $0.10 per share to be paid on or about December 17, 2012 for shareholders of record as of December 14, 2012"
and Tad Ballantyne bought up 126,300 shares between 9/28 and 11/7
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001372361

I guess he must be as stupid as we are, EH???

Too FUNNY!!!

[fung_derf]

Have you seen anything on STX paying a special dividend? I'm seeing one and can't figure out where it's coming from.

[wzebra33]

DORM
COLMAR, PA, Dec 05, 2012 (MARKETWIRE via COMTEX) -- Dorman Products, Inc. DORM +0.91% today announced that it will pay a $1.50 per share special cash dividend. The special cash dividend will be payable on December 28, 2012 to shareholders of record at the close of business on December 17, 2012. The aggregate amount of payment to be made in connection with this special dividend will be approximately $55 million based on the current number of shares outstanding.

[wzebra33]

PIKE The board of directors for Pike Electric Corp. declared a special dividend of $1 a share, payable Dec. 21 to shareholders registered Dec. 14.

[the cork]

Hecla Declares Preferred Dividend
Hecla Mining (NYSE:HL)
Today : Monday 3 December 2012

Hecla Mining Company (NYSE:HL) today announced its Board of Directors has elected to declare the regular quarterly dividend of $0.875 per share on the outstanding Series B Cumulative Convertible Preferred Stock.

The regular quarterly dividend of $0.875 per share, on a total of 157,816 shares outstanding of the Series B Cumulative Convertible Preferred Stock, represents a total amount to be paid of approximately $138,000. The cash dividend is payable January 2, 2013, to shareholders of record on December 14, 2012.

About Hecla Mining Company

Established in 1891, Hecla Mining Company is one of the largest and lowest-cost silver producers in the U.S. The company has two operating mines and exploration properties in four world-class silver mining districts in the U.S. and Mexico.

Cautionary Statements

Statements made which are not historical facts, such as anticipated payments, litigation outcome, production, sales of assets, exploration results and plans, prospects and opportunities including reserves, resources, and mineralization, costs, and prices or sales performance are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.

http://ih.advfn.com/p.php?pid=nmona&article=55279732&symbol=HL

[wzebra33]

HCA Holdings, Inc. (NYSE: HCA) today announced that it intends, subject to applicable legal and contractual restrictions, to declare and pay a special cash dividend of $2.00 per share to stockholders and certain optionholders on or prior to December 31, 2012. The dividend is expected to be funded through the net proceeds from the Company’s offering of $1.0 billion aggregate principal amount of senior notes due 2021. HCA’s ratio of debt-to-Adjusted EBITDA at September 30, 2012 was approximately 4.1x compared to 4.5x at December 31, 2011. The Company’s ratio of debt-to-Adjusted EBITDA is estimated to have been approximately 4.5x on September 30, 2012 adjusted for financing transactions completed in the fourth quarter of 2012 and the anticipated impact of the special dividend and incremental financing. There can be no assurance that the special dividend will be declared and paid.

[wzebra33]

Whole Foods to Pay Special Dividend in December (WFM)
By Shauna O'Brien
November 30th, 2012

whole-foods-to-pay-special-dividend-in-december-wfm



Organic supermarket chain, Whole Foods Market, Inc.(WFM) reported on Friday that they will pay a special dividend next month of $2.

The company reported that it will be paying a special dividend of $2 per share on December 21 to shareholders of record on December 10. The estimated cost of this dividend to the company will be $370 million.

WFM will also pay their regular dividend of 20 cents per share on January 29 to shareholders of record on January 10.

Co-founder and co-chief executive officer John Mackey commented, “today’s announcement of a $2.00 special dividend, payable prior to the end of the calendar year, provides us with another opportunity to return capital to our shareholders.”

[fung_derf]

If you could post the symbol along with the story, that would be lovely.

[wzebra33]

KNOXVILLE, Tenn. (AP) — Movie theater owner Regal Entertainment Group said Thursday that its board had declared a special cash dividend of $1 per share, payable on Dec. 27 to stockholders of record as of Dec. 11. Its shares rose in extended trading.

The special dividend will not affect the previously announced dividend of 21 cents per share, payable on Dec. 14 to stockholders of record on Dec. 5.

[wzebra33]

NAPERVILLE, Ill. (AP) — Tellabs Inc. is joining the list of companies paying a special dividend to reward shareholders before a potential tax hike kicks in next year.

The cash dividend of $1 per share announced Thursday will be paid Dec. 21 to stockholders of record on Dec. 14. That schedule means the dividend will fall under the 15 percent tax rate that has been applied to stock dividends since 2003. That could change beginning next year, unless Congress and President Barack Obama reach a compromise on taxes and government spending.

[wzebra33]

NORTHBROOK, Ill., Nov. 28, 2012 /PRNewswire/ -- KapStone Paper and Packaging Corporation (NYSE: KS), (the "Company" or "KapStone") announced today that its Board of Directors approved a $2.00 per share special cash dividend. The dividend payout will total approximately $95 million based on the current shares outstanding.

Roger W. Stone, Chairman and Chief Executive Officer of the Company commented, "Given the uncertain tax environment, we believe that it is prudent to return to our shareholders in a tax efficient method a portion of the significant gains that the Company has generated. After the dividends are paid, KapStone's balance sheet will remain very strong with an EBITDA to debt leverage ratio still below two times. In addition, we have amended our senior secured credit agreement to lower our interest pricing grid by 25 bps. With KapStone's low leverage ratio, the $450 million accordion provision in our credit facility, and our even lower borrowing costs, KapStone is very well positioned to continue to pursue growth opportunities."

The special cash dividend will be payable on December 20, 2012 to shareholders of record at the close of business on December 10, 2012. The NYSE has determined that the ex-dividend date will be December 6, 2012. Shareholders who sell their shares on or before the December 6, 2012 ex-dividend date will also be selling their rights to receive the $2.00 per share cash dividend. Shareholders are advised to contact their financial advisor before selling their shares.

PR Newswire (http://s.tt/1v9KN)

[bar1080]

Most stupid is filling your house with gold, like that guy in Nevada, and dying. Afterward the real estate agent found something like $6 million in gold bullion and coins in the old guys shabby home.

Did you read that story? Last I heard they wondered how he got the funds since he hadn't worked since he was in his 20s.

Maybe made a killing in hot penny stocks!!!!!!!!! LOL

Gotta run

[fung_derf]

LOL! Much more stupid is the collection of gold for an apocalypse.

[fung_derf]

If they don't like the taxes in the US, they're gonna hate them in Australia! Incredibly high.
As far as taking social security, usually better if one spouse does and the other waits. Breakeven age around 72 if I recall correctly.

[the cork]

Good point bat1080. Simplistic thinking doesn't solve anything, and just perpetuates the ignorance. Just look at the spike in the sale of guns, ... "so Obama doesn't take my guns away." They always have to feel like victims, so they can justify an otherwise stupid position.

[bar1080]

I see some element of political protest with such divs. Similarly, some people who are taking Social Security early (often poor financial planning) justify that on political grounds. "Obama's Not Getting MY Retirement Money!"

It's like the new bout of states wanting to secede from the union. For as long as I can recall there have always been a few stories about people leaving the U.S. after each election. Of course they always go to Australia, never some third world cesspool.

[fung_derf]

Interesting viewpoint. What I'm finding (at least with the legit companies) is these companies heavily laden with cash and wanting to get it out to investors (especially the insiders) before Obama claims it as his own.
For instance, COST isn't borrowing money to pay out a dividend.

Costco generated over $1.9 billion
in free cash flow in 2011; and returned over a billion dollars to shareholders in the form of dividends
($389 million) and share repurchases ($624 million).

[bar1080]

Agree, it's something to follow down the road. I can even imagine a few troubled firms paying special dividends just to drain cash before problems become evident to creditors. In that case. a red flag for bankruptcy on the horizon.

Sometimes a big div may be a sign the company sees few growth opportunities. Perhaps a sign they're going to wind down operations.

Offhand, I don't see these one shot divs as any big deal one way or the other. My best guess: a very slightly bullish indicator, one factor to be considered among many.

[fung_derf]

Good article, but may have missed the point....

About half of the companies this quarter have seen their shares rise more than 1 percent from the time they announced the dividend until the record date,

More importantly, what did the stock do AFTER the dividend was issued?

[bar1080]

The "insane dividend" trend is certainly real.... probably driven more by insiders' special interest than by desire to help shareholders in general. The percent of stocks paying these special divs is still very small.

"So far this quarter, about 63 companies with market caps greater than $500 million in the Russell 3000 index have issued special—or one-time—dividend payments. That compares with only 44 for all of 2011."

[wzebra33]

The problem with the story (IMO) is some companys take loans to pay special dividends with the board members collecting the most,and that has a negative impact on the stock.A company that hords cash like apple could pay a huge dividend and make a comeback in stock price because of earnings.
Only pick dividend payers that make so much that they have quarter to quarter surplus cash flows.

[bar1080]

"Do Special Dividends Boost Stock Price?"

http://www.cnbc.com/id/49979295?__source=yahoo|headline|quote|text|&par=yahoo

[wzebra33]

COSTCO $7
Costco to Pay Investors $3 Billion With Special Dividend
Nov 28, 2012 5:34 AM PT

Costco Wholesale Corp. (COST), the largest U.S. warehouse-club chain, plans to pay a special dividend of about $3 billion as it returns increasing cash to investors.

The $7-a-share payment reflects the company’s “strong balance sheet and favorable access to the credit markets,” Chief Financial Officer Richard Galanti said today as Costco reported a 10 percent increase in first-quarter sales.

Costco joins a growing number of U.S. companies, from Wynn Resorts Ltd. (WYNN) to Tyson Foods Inc. (TSN), which are announcing special dividends at four times the pace of last year ahead of pending tax increases in 2013. The rate on dividends, which was reduced to 15 percent during the George W. Bush administration, is set to go up as President Obama and congress work to draw more revenue from top earners.

Costco, based in Issaquah, Washington, held $3.47 billion of net cash as of September, the most at that point in at least two decades, even after spending about $760 million to acquire the partner in its Mexican joint venture. Galanti said on an analyst call last month that there wasn’t “a great sense of pressure to change our modus operandi” with regard to dividends.
Rewarding Shareholders

“It’s a tangible way of rewarding shareholders that avoids the lottery of a share buyback,” said Bryan Roberts, an analyst at Kantar Retail in London. “They’ve amassed significant cash reserves, partly due to their success. They have been one of the most successful retailers in the past 20 years.”

Costco rose 4.7 percent to $101.05 at 7:25 a.m. in New York. The shares had advanced 16 percent this year through yesterday.

Congress is expected to let the dividend tax rate revert to the ordinary income rate, which tops out at 39.6 percent. From the end of September through today, 71 companies in the Russell 3000 stock index have declared a one-time cash payment to shareholders, up from 15 percent in the year-earlier quarter, according to data compiled by Bloomberg.

Also today, Costco said comparable sales rose 6 percent in the four weeks ended Nov. 25, with growth slowing from 7 percent in the previous month. Excluding the effects of gasoline prices and currency movements, monthly growth was 5 percent, it said, unchanged from October.

The special dividend will be paid on Dec. 18 and is in addition to the regular quarterly cash dividend of 27.5 cents a share that was declared on Oct. 30, Costco said.

[wzebra33]

LOUISVILLE, Ky., Nov 27, 2012 (BUSINESS WIRE) -- Brown-Forman Corporation's BF.A +2.12% BF.B +1.79% Board of Directors has declared a special cash dividend of $4.00 per share on its Class A and Class B Common Stock that will be paid on December 27, 2012 to stockholders of record on December 12, 2012. This special cash dividend is in addition to the 9.3% increase in the company's regular cash dividend announced by the company on November 15, 2012.

[wzebra33]

LITTLE ROCK, Ark. (AP) — Department store operator Dillard's Inc. said Monday it will pay a special cash dividend of $5 in December.

The company also declared a quarterly dividend of 5 cents. Both dividends will be payable Dec. 21 to shareholders of record on Dec. 7.

[wzebra33]

NEW YORK (AP) — Casino operator Las Vegas Sands Corp. said Monday it will pay a special dividend of $2.75, distributing about $2.26 billion to its shareholders by the end of the year.

The company said the dividend will be payable Dec. 18 to shareholders of record on Dec. 10. Chairman Sheldon Adelson said returning capital to shareholders is a priority for the company.

The casino operator is the latest company to move up its quarterly payout or issue a special end-of-year payment to protect investors from potentially having to pay higher taxes on dividend income starting in January.

Many companies are reviewing their dividend policies now that it appears investors could soon pay higher taxes. Since 2003, investors have paid a maximum 15 percent on dividend income. But that historically low rate will expire in January unless Congress and President Barack Obama reach a compromise on taxes and government spending. As it stands, dividends will be taxed as ordinary income in 2013, the same as wages, so rates will go up depending on which income bracket a taxpayer is in. For the highest earners, the dividend rate would jump to 43.4 percent.

Las Vegas Sands runs casinos in Las Vegas, Pennsylvania, Singapore and Macau. The company had 823.4 million shares on the market as of Nov. 1.

Adelson is the majority shareholder in Las Vegas Sands, holding 431.5 million shares, or more than 52 percent of the company, according to FactSet. Based on that total Adelson stands to receive $1.19 billion from the special dividend payment.

[wzebra33]

Nov. 26, 2012 /PRNewswire via COMTEX/ -- Drew Industries Incorporated DW +2.11% , a leading supplier of components for recreational vehicles (RV) and manufactured homes, today announced that its Board of Directors has approved a special cash dividend of $2.00 per share of common stock.

The dividend is payable on December 20, 2012 to stockholders of record at the close of business on December 10, 2012.

[wzebra33]

SOUTHFIELD, Mich. — Detrex Corporation (Pink Sheets: DTRX) today announced that it will pay a special dividend of $1.00 per share payable December 17, 2012 to shareholders of record as of the close of business December 7, 2012.

“We believe that our solid financial and operational condition merits a special dividend,” said Detrex President and CEO Tom Mark. “In addition to providing special and quarterly dividends, we are continuing to investigate strategic opportunities to enhance shareholder value.”

About Detrex Corporation

Founded in 1925, Detrex Corporation is a manufacturer of specialty chemical products for the global industrial manufacturing markets through its subsidiary The Elco Corporation. Elco is a leading manufacturer of high performance specialty chemicals including additives for industrial petroleum products

Read more here: http://www.heraldonline.com/2012/11/26/4439586/detrex-corporation-declares-a.html#storylink=cpy

[wzebra33]

Nov 23, 2012 (BUSINESS WIRE) -- National Beverage Corp. FIZZ +14.74% today announced that its Board of Directors has declared a special cash dividend to shareholders of record at the close of business on December 5, 2012. The Board directed a range of $1.50 to $3.00 per share and will finalize the per share amount no later than November 30, 2012. The payment date will be made to avail shareholders of the current tax treatment in calendar year 2012; and, further, should the Administration extend or modify its position relative to current tax on dividends, the Board may extend the payment date to February 1, 2013.

"Our Board views itself as 'Guardians' of the shareholders and, as such, will continue to explore all remedies to enhance shareholder values. The range of distribution, while protecting the integrity of our balance sheet, are shareholder values that we will not compromise," stated Nick A. Caporella, Chairman and Chief Executive Officer.

"Final services for President Kennedy's - 'What You Can Do For Your Country' were held November 6, 2012. Will traditional 'Golden Standards' also go the way of that challenge? Can the walls of a Fortress Balance Sheet be astute talent or dynamic creative and insure the same Philosophical Security to the investor? Does shareholder equity have a significant effect on a company's ability to create, innovate and make profits? Or . . . should it be the Idea - the generation of Cash Flow and the magnet that attracts genius to the Team . . . that comprise the real granite walls of the Fortress . . . on the Fortress Balance Sheet?" Caporella added.

[fung_derf]

Nice chart.

[wzebra33]

(Nasdaq:ARDNA) announced today that on November 20, 2012, its Board of Directors declared a special cash dividend of twenty dollars ($20) per share on its Class A Common Stock. The special cash dividend will be paid on December 18, 2012 to stockholders of record at the close of business on December 3, 2012. The special cash dividend will total approximately $61,420,000. The Company anticipates paying the special cash dividend from cash on hand. The special cash dividend is in addition to the current quarterly cash dividend.

The base price under all outstanding stock appreciation rights of the Company, including those issued to non-employee directors of the Company, is being amended and adjusted downward by $20 as of the record date for each unit of stock appreciation rights outstanding on the record date in connection with the payment of the special cash dividend

[wzebra33]

(GYRO) announced that its Board of Directors declared a special cash dividend in the amount of $56,786,644, or $38.30 per share. The dividend is payable on December 14, 2012 to stockholders of record as of December 1, 2012. The special dividend represents over 90% of the Company's REIT taxable income earned through September 30, 2012.

[wzebra33]

Sturm Ruger & Co. RGR +1.52% unveiled a special dividend of $4.50 a share, a shareholder-friendly move that reflects the firearms manufacturer's confidence in its future prospects.

Shares jumped 5.5% to $51.50 after hours. The stock has climbed 46% since the start of the year through Monday's close.

The special payout will cost Sturm Ruger about $86.2 million. The dividend will be paid on Dec. 21 to shareholders of record as of Dec. 7.

[wzebra33]

Aware, Inc. (NASDAQ: AWRE), a leading supplier of biometrics software and DSL service assurance products, today announced that its Board of Directors has declared a special cash dividend of $1.80 per share, or approximately $40 million in total. The special cash dividend will be paid on December 17, 2012 to shareholders of record as of December 3, 2012.

Read more here: http://www.sacbee.com/2012/11/19/4997885/aware-inc-declares-special-cash.html#storylink=cpy

[bar1080]

"avoid derivative products" Actually I worry about the word "product" perhaps more than "derivative."

[wzebra33]

Monday, Nov. 19, 2012 - 6:06 am ROTTERDAM, Netherlands, Nov. 19, 2012 -- /PRNewswire/ -- LyondellBasell (NYSE: LYB) today announced that its Management Board has declared a special dividend of $2.75 per share payable Dec. 11, 2012 to shareholders of record on Nov. 19, 2012, and an interim dividend of $0.40 per share payable Dec. 11, 2012 to shareholders of record on Nov. 19, 2012.

The company announced on Oct. 26 that its Supervisory Board had authorized the Management Board to declare the special dividend and announced on Nov. 6 that the Supervisory Board had authorized the Management Board to declare the interim dividend.

Read more here: http://www.sacbee.com/2012/11/19/4996795/lyondellbasell-declares-special.html#storylink=cpy

[wzebra33]

Jovian Capital Corp. (TSX:JOV) says it plans a special dividend of $3 per common share.

The Toronto-based wealth and asset manager says the dividend is based on proceeds from two sales made a year ago — the Horizons ETFs business sold last November and MGI Financial Inc. sold in October 2011.

The dividend will be paid Dec. 13 to shareholders of record on Nov. 28.

Jovian said the payment coincides with the release of funds from escrow and a reduction in Jovian's potential indemnification liabilities with respect to the Horizons ETFs transaction.

The Jovian group of companies oversees some $6.4 billion of client assets —$5 billion in client assets managed or advised and $1.4 billion in assets under administration.

[fung_derf]

A very smart man back around '93 warned me to always avoid derivative products.
The only thing I've ever messed with were stock and index options.

[bar1080]

I don't like ANY CEF gimmicks:

- no leverage,
- no monthly dividends,
- no div capture,
- no inscrutable option strategies,
- no emerging markets,
- no managed distributions.

Mostly those are used to justify higher fees for management. If the fund portfolio generates a reasonable 2% yield, then pay me 2%.

The marketing often boils down to this:
"Buy Our "Product" Because We're So Much Smarter Than You... Grandpa!

[bar1080]

"The [CEF] Flash Crash You Missed" Not me!

http://www.fool.com/investing/mutual-funds/2012/11/19/the-flash-crash-you-missed-last-week.aspx

[fung_derf]

There's a pretty simple key, if the closed end fund includes leverage, stay away from it.

[wzebra33]

(AP) - Westlake Chemical has declared a special dividend of $3.75 per share and a quarterly dividend of 18.75 cents per share.

The chemical company said Monday that the dividends will be paid on Dec. 12 to shareholders of record on Nov. 26.

The special dividend will cost the company about $250 million while the regular dividend will be about $12.5 million, the company said. The company has about 66.7 million shares outstanding.

Westlake Chemical Corp. said that the dividends will be paid with available cash.


Read more: http://www.vcstar.com/news/2012/nov/19/westlake-chemical-declares-special-dividend/#ixzz2CgLeSRYZ
- vcstar.com

[bar1080]

Barrons: "Fed driving income investors to become reckless"


http://blogs.barrons.com/focusonfunds/2012/10/17/these-rich-yielding-closed-end-funds-trade-at-a-discount/?mod=BOL_qtoverview_barlatest

[fung_derf]

First off, why do you respond to her when I asked the question?
I owned 550 of the B shares of Berkshire at one time. I had someone try to talk me into buying a couple A shares back when it was around $17k, but passed because I was concerned about Buffet's health. Obviously a poor decision.
3M has done little over the last few years.
BTW, in my profile I have my larger positions....if you're interested.
Oh, and the CMKX board has become an off topic board these days. So it's a place to gather.

[wzebra33]

Waddell & Reed joins list of special dividend payers ahead of tax law change
Waddell & Reed Financial Inc. on Thursday declared a special dividend of $1 a share to be paid ahead of the scheduled Jan. 1 expiration of the 15 percent tax rate on dividend income.

The Overland Park-based mutual fund company is at least the fourth public company in the area to declare a special payout of cash to its shareholders ahead of possible tax law changes. Barring a resolution of the “fiscal cliff” standoff in Washington, dividend income will be taxed at the recipient’s individual income tax rate rather than the special rate that is part of the Bush tax cuts.

Waddell’s special dividend will be paid Dec. 6 to its owners of record as of Nov. 26. The company also raised its regular quarterly dividend to 28 cents, payable Feb. 1 to owners as of Jan. 11.

Read more here: http://www.kansascity.com/2012/11/15/3918474/waddell-reed-joins-list-of-special.html#storylink=cpy