SPECIAL DIVIDEND TIME: Joining the ranks of firms declaring special dividends or accelerating dividends already planned in advance of the so-called “fiscal cliff” and anticipated tax increases for capital gains and dividends, Limited Brands Inc. said Monday that it would pay a special $3-a-share dividend on Dec. 26 to stockholders of record Dec. 20. With about 294.4 million shares outstanding at the end of its third quarter, the payout would come to about $883.2 million.
Among other firms in the fashion space issuing special dividends have been Perry Ellis International Inc. and The Cato Corp., both of which plan to gift shareholders with $1 in cash for each share held.
This story first appeared in the December 11, 2012 issue of WWD. Subscribe Today.