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BUSINESS
August 27, 2012 | Bloomberg News
AOL Inc. announced a $600-million accelerated stock buyback agreement and a special cash dividend of $5.15 a share, the final steps in returning about $1.1 billion to shareholders. The Internet company said Monday that it will purchase $600 million worth of common stock under an agreement with Barclays. The one-time dividend will be payable Dec. 14. This month AOL, owner of the Huffington Post and TechCrunch websites, rose to its highest value since it was spun off by Time Warner Inc. in 2009, after an increase in advertising revenue and a one-time gain on a patent sale helped the company return to a profit in the second quarter.
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BUSINESS
November 28, 2012 | By Alana Semuels, Los Angeles Times
NEW YORK - Hoping to save shareholders money, Costco joined a growing list of companies issuing dividend payments this year, rather than waiting and seeing if tax rates rise as Congress wrangles over the "fiscal cliff. " The warehouse retailer said Wednesday that it would pay shareholders a special dividend of $7 a share before the end of the calendar year, "our latest effort in returning capital to our shareholders," said Chief Financial Officer Richard Galanti. Dividends, which are profits made from investing in stocks and bonds, are currently taxed at a rate of 15% for the top four tax brackets, and 0% for the bottom bracket.
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BUSINESS
March 16, 2004 | James Bates, Times Staff Writer
Metro-Goldwyn-Mayer Inc. is considering paying out as much as $2.1 billion to shareholders in a special dividend. Sources said the company was mulling over giving stockholders $6 to $9 a share. The bulk of the money would go to billionaire Kirk Kerkorian, who controls the Los Angeles studio with 74% of shares.
BUSINESS
August 27, 2012 | Bloomberg News
AOL Inc. announced a $600-million accelerated stock buyback agreement and a special cash dividend of $5.15 a share, the final steps in returning about $1.1 billion to shareholders. The Internet company said Monday that it will purchase $600 million worth of common stock under an agreement with Barclays. The one-time dividend will be payable Dec. 14. This month AOL, owner of the Huffington Post and TechCrunch websites, rose to its highest value since it was spun off by Time Warner Inc. in 2009, after an increase in advertising revenue and a one-time gain on a patent sale helped the company return to a profit in the second quarter.
BUSINESS
November 28, 2012 | By Alana Semuels, Los Angeles Times
NEW YORK - Hoping to save shareholders money, Costco joined a growing list of companies issuing dividend payments this year, rather than waiting and seeing if tax rates rise as Congress wrangles over the "fiscal cliff. " The warehouse retailer said Wednesday that it would pay shareholders a special dividend of $7 a share before the end of the calendar year, "our latest effort in returning capital to our shareholders," said Chief Financial Officer Richard Galanti. Dividends, which are profits made from investing in stocks and bonds, are currently taxed at a rate of 15% for the top four tax brackets, and 0% for the bottom bracket.
BUSINESS
March 2, 2006 | From Bloomberg News
Saks Inc. posted a fourth-quarter loss caused by expenses to close stores and said profit at its luxury chain plunged 87%. Saks plans to pay investors a $4-a-share special dividend after the sale of five chains to Bon-Ton Stores Inc. The net loss was $2.42 million, or 2 cents a share, contrasted with net income of $96.6 million, or 68 cents, a year earlier. Revenue dropped 14% to $1.77 billion, Birmingham, Ala.-based Saks said.
BUSINESS
August 24, 1989 | From Times wire services
Texaco Inc., the nation's third-largest oil company, today declared a special $1-billion dividend payable to its shareholders Sept. 18 as a result of the sell-off of companies to meet court-ordered payments in its fight with Pennzoil. The dividend is the second part of the $2-billion, $8-a-share distribution the company announced in January in its truce with corporate raider Carl Icahn, who sought to take over Texaco after its battle with Pennzoil.
BUSINESS
December 20, 2005 | From Reuters and Bloomberg News
Executives of Cablevision Systems Corp. said Monday that they canceled plans for a $3-billion special dividend payment to shareholders after finding that the cable TV company was in violation of certain terms of its bank credit agreement. The news sent Cablevision's shares down 85 cents, or 3.5%, to $23.15. The stock has plunged 29% since early July.
BUSINESS
September 8, 1989 | JAMES F. PELTZ, Times Staff Writer
Dataproducts Corp., responding to a hostile suitor, unveiled plans Thursday for a major overhaul that includes eliminating 400 domestic manufacturing jobs, mostly in Woodland Hills. Dataproducts, a leading independent maker of computer printers, said the plan also calls for a special cash dividend and the sale of a subsidiary. The company also will proceed with the previously announced sale of its 22-acre headquarters property in Woodland Hills to Trizec Properties Inc.
BUSINESS
December 29, 1988 | From Reuters
Quantum Chemical Corp. on Wednesday announced a far-reaching restructuring that includes selling its specialty chemical division and paying a special $50-a-share cash dividend in order to boost the price of its stock, which it said is undervalued. The move worked. Quantum's shares jumped $18.625 to $107.125 on the New York Stock Exchange. The company said the special dividend will be paid from the proceeds of a $1.15-billion bridge loan from investment banks Dillon, Read & Co.
BUSINESS
March 2, 2006 | From Bloomberg News
Saks Inc. posted a fourth-quarter loss caused by expenses to close stores and said profit at its luxury chain plunged 87%. Saks plans to pay investors a $4-a-share special dividend after the sale of five chains to Bon-Ton Stores Inc. The net loss was $2.42 million, or 2 cents a share, contrasted with net income of $96.6 million, or 68 cents, a year earlier. Revenue dropped 14% to $1.77 billion, Birmingham, Ala.-based Saks said.
BUSINESS
December 20, 2005 | From Reuters and Bloomberg News
Executives of Cablevision Systems Corp. said Monday that they canceled plans for a $3-billion special dividend payment to shareholders after finding that the cable TV company was in violation of certain terms of its bank credit agreement. The news sent Cablevision's shares down 85 cents, or 3.5%, to $23.15. The stock has plunged 29% since early July.
BUSINESS
April 30, 2005 | Charles Duhigg, Times Staff Writer
Clear Channel Communications Inc., the nation's largest radio broadcaster, announced Friday a 59% drop in net income in the first quarter and confirmed that it would split up the media giant by spinning off its live-entertainment division. The announcement is the latest evidence that media empires constructed in the late 1990s are rethinking their strategies because the whole has not proved more valuable than the sum of its parts. Viacom Inc.
BUSINESS
April 7, 2004 | James Bates
Metro-Goldwyn-Mayer Inc. said its management would recommend that directors set $8 a share as the size of a special dividend the Los Angeles studio is considering paying shareholders. MGM previously said it may issue the dividend, which would total nearly $1.9 billion, because it was generating ample cash and had become debt free. About $1.4 billion of the payout would go to controlling shareholder Kirk Kerkorian.
BUSINESS
March 16, 2004 | James Bates, Times Staff Writer
Metro-Goldwyn-Mayer Inc. is considering paying out as much as $2.1 billion to shareholders in a special dividend. Sources said the company was mulling over giving stockholders $6 to $9 a share. The bulk of the money would go to billionaire Kirk Kerkorian, who controls the Los Angeles studio with 74% of shares.
BUSINESS
January 21, 2003 | Tom Petruno, Times Staff Writer
If investors come to want higher dividend payments from companies, it could cause problems for firms whose earnings can be volatile from quarter to quarter or year to year. The answer may be for corporate managers to take a page from the not-so-distant past and bring back the "extra" or "special" cash dividend. From the 1950s through the 1970s, the extra was well known to investors.
BUSINESS
September 16, 1993 | From Times Staff and Wire Reports
General Dynamics Sets Third Special Dividend: The diversified defense contractor said it set a special dividend of $12 a share on its common stock and raised its regular quarterly dividend 50% to 60 cents a share. On Wall Street, the stock was boosted $2.875 to end at $99.50 on the New York Stock Exchange. The special distribution, payable Oct. 12 to holders of record as of Sept.
CALIFORNIA | LOCAL
September 5, 2000
Public Storage Inc., Glendale, announced a special cash dividend of 60 cents per regular common share payable on Sept. 29 to shareholders of record as of Sept. 15. The special dividend is in addition to the regular third quarter dividend of 22 cents per regular common share. Public Storage is a fully integrated real estate investment trust that primarily acquires, develops, owns and operates self-storage facilities.
BUSINESS
April 16, 1997 | From Associated Press
The distributor of television programs such as "The Oprah Winfrey Show" and "Wheel of Fortune" is no longer up for sale and instead said it plans to invest in expanding its business. King World Productions Inc. also said Tuesday it is rewarding stockholders with a special dividend and the repurchase of about 13% of its common stock. In addition, the television syndicator reported its earnings rose 4% in its second fiscal quarter, beating analysts' expectations by a penny a share.
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