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The Special Dividend Craze Continues

Electro Scientific Industries (NASDAQ: ESIO) declared a special dividend of $2.00 per share.  The dividend will be payable on December 27, 2012, to stockholders of record on December 13, 2012.  The annual yield on the dividend is 19.1 percent.

PetMed Express, Inc. (NASDAQ: PETS) declared a special dividend of $1.00 per share.  The dividend will be payable on December 24, 2012, to stockholders of record on December 14, 2012.  The annual yield on the dividend is 8.7 percent.

Campbell Soup (NYSE: CPB) declared a quarterly dividend of $0.29 per share, or $1.16 annualized.  The dividend will be payable on December 28, 2012, to stockholders of record on December 14, 2012, with an ex-dividend date of December 12, 2012.  The annual yield on the dividend is 3.2 percent.  Additionally, Campbell said that a quarterly dividend of $0.29 per share is now payable on Dec. 28, 2012 to shareholders of record at the close of business on Dec. 14, 2012. The dividend was previously scheduled to be paid on Jan. 28, 2013 to shareholders of record at the close of business on Dec. 26, 2012.

Oracle Corp (NASDAQ: ORCL) declared a special dividend of $0.18 per share after accelerating its Q2, Q3, Q4 dividend for fiscal 2013 ahead of the fiscal cliff.  The dividend will be payable on December 21, 2012, to stockholders of record on December 14, 2012, with an ex-dividend date of December 12, 2012. The annual yield on the dividend is 0.6 percent.

Carnival Corp. (NYSE: CCL) declared a special dividend of $0.50 per share.  The dividend will be payable on December 28, 2012, to stockholders of record on December 7, 2012.  The annual yield on the dividend is 1.3 percent.  Holders of Carnival Corporation common stock or Carnival plc ADSs will receive a dividend payable in U.S. dollars. The quarterly dividend for Carnival plc ordinary shares will be payable in sterling unless shareholders elected to receive the dividend in U.S. dollars by November 23, 2012. The special dividend for Carnival plc ordinary shares will be payable in sterling unless shareholders elect to receive the dividend in U.S. dollars by December 7, 2012.

Sun Hydraulics, Inc. (NASDAQ: SNHY) declared a special dividend of $1.00 per share.  The dividend will be payable on December 28, 2012, to stockholders of record on December 14, 2012.  The annual yield on the dividend is 3.8 percent.

Espey Manufacturing & Electronics Corp. (NYSE: ESP) declared a special dividend of $1.00 per share.  The dividend will be payable on December 20, 2012, to stockholders of record on December 10, 2012.  The annual yield on the dividend is 3.8 percent.  Espey Manufacturing also declared a quarterly dividend of $0.25 per share, or $1 annualized. This is an 11.1% increase from the prior dividend of $0.225. The dividend will be payable on December 20, 2012, to stockholders of record on December 10, 2012, with an ex-dividend date of December 6, 2012.

New Special Dividends from DDS, SLI and LVS

Dillard’s, Inc. (NYSE: DDS) announced that the Board of Directors declared a regular, quarterly cash dividend of$0.05 per share as well as a special, one-time cash dividend of $5.00 per share.  Both dividends are payable on the Class A and Class B Common Stock of the Company on December 21, 2012 to shareholders of record as of December 7, 2012.  The dividends combine for a yield of 5.9%.

DDS has an equity summary score of 7.6 out of 10 for a Bullish outlook.

SL INDUSTRIES, INC. (NYSE: SLI) announced that its board of directors declared a cash dividend of $2.00per share of Common Stock outstanding, payable in cash on December 17, 2012 to shareholders of record as of the close of business on December 6, 2012. The dividend yield is 11.6%.

SLI has an equity summary score of 9.3 out of 10 for a VERY Bullish outlook.

Las Vegas Sands Corp.’s (NYSE: LVS) board has approved a special dividend of $2.75 a share, as the casino operator looks to boost shareholder returns.  The dividend will be paid on Dec. 18 to shareholders of record as of Dec. 10 and will cost the company about $2.26 billion.

LVS has an equity summary score of 1.6 out of 10 for a Bearish outlook.

Arden Pays a $20 Special Dividend

Arden Group, Inc. (NASDAQ: ARDNA) declared a special dividend of $20 per share. The dividend will be payable on December 18, 2012, to stockholders of record 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.

The annual yield on the dividend is 20.4 percent.

Arden also approved a dividend of 0.25 per share. The dividend is payable on January 18, 2013 to shareholders of record on December 28, 2012.

Arden Group, Inc., through its subsidiaries, operates supermarkets in southern California.

More Special Dividends on Tap from 2% to 18%

As the year comes to a close, there are more special dividend announcements.  Company’s continue to pay cash to shareholders before the decision to raise taxes in 2013.  Here is a list of special dividends from 2.0% to 18%:

Republic Bancorp, Inc. (NASDAQ:RBCAA), parent company of Republic Bank & Trust Company and Republic Bank, announced today that its Board of Directors has approved a one-time special cash dividend of$1.10 per share on Class A Common Stock and $1.00 per share on Class B Common Stock. The special cash dividend will be payable December 21, 2012 to shareholders of record as of November 30, 2012.  In addition, the Board also declared the Company’s regular quarterly cash dividend of $0.165per share on Class A Common Stock and $0.15 per share on Class B Common Stock. The regular quarterly dividend payment will be payable January 18, 2013 to shareholders of record as of December 21, 2012.

The combined dividend payments are a dividend yield of 5.81% on Class B shares.  Republic Bancorp has an equity summary score of 9.9 out of 10 for a VERY Bullish outlook.

The Board of Directors of Waddell & Reed Financial, Inc. (NYSE:WDR) approved a special cash dividend on its Class A common stock of$1.00 per share payable on December 6, 2012 to stockholders of record as of November 26, 2012.  In addition to the special cash dividend, the Board has approved an increase in the
quarterly dividend to $0.28 per share payable on February 1, 2013 to stockholders of record as of January 11, 2013. This new quarterly rate represents an increase of 12% over the previous$0.25 dividend per share rate.

The combined dividend payments are a dividend yield of 3.97%.  Waddell & Reed Financial has an equity summary score of 9.0 out of 10 for a Bullish outlook.

NetEase (NASDAQ:NTES) makes the lion’s share of its revenue from online games.  The company said Tuesday it is paying a special dividend of $1 per American depositary share, and launching a share buyback program of $100 million, as it seeks to boost shareholder returns. The dividend will cost the company around $131 million.

The special dividend payment is a dividend yield of 2.0%.  NetEase has an equity summary score of 5.7 out of 10 for a Neutral outlook.

Primus Telecommunications Group, Incorporated (NASDAQ:PTGI) , a global facilities-based integrated provider of advanced telecommunications products and services, announced that its Board of Directors has approved a special cash dividend of$2.50 per share on all issued and outstanding PTGI common stock. The special cash dividend will be paid on December 11, 2012 to holders of record of PTGI common stock as of November 27, 2012.

The special dividend payment is a dividend yield of 18.0%.  Primus Telecommunications Group has an equity summary score of 2.0 out of 10 for a Bearish outlook.

RLI Corp. (NYSE:RLI) announced today its board of directors has declared an extraordinary cash dividend of $5.00 per share of common stock, which is expected to total approximately $105 million, and a regular quarterly cash dividend of $0.32 per share. Both dividends are payable on December 20, 2012, to shareholders of record as of November 30, 2012.

The combined dividend payments are a dividend yield of 7.97%.  RLI Corp. has an equity summary score of 3.7 out of 10 for a Neutral outlook.

Get a Special Dividend with a 71% Yield

China Digital TV Holding Co., Ltd. (STV) , the leading provider of conditional access systems to China’s expanding digital television market, today declared a special cash dividend of US$2.30 per share on the Company’s ordinary shares, par value US$0.0005 per share. Each of the Company’s American depositary shares represents one ordinary share.

Shareholders of record as of the close of business on November 26, 2012 will be eligible to receive the dividend. This cash dividend is currently expected to be paid in two installments of US$1.00 and US$1.30 on or around December 3, 2012 and February 4, 2013, respectively.

STV is trading at $3.24 so the special dividend will yield 71%.  China Digital TV has an equity summary score of 8.1 out of 10 for a Bullish outlook.

Company to Pay $29 Special Dividend with 37% Yield

Loral Space & Communications Inc. (NASDAQ: LORL) announced that, in connection with receipt of proceeds from the sale of its former subsidiary Space Systems/Loral, its Board of Directors has declared a special distribution of $29.00 per share for an aggregate distribution of up to $899.3 million. The distribution is payable onDecember 4, 2012 to holders of record of Loral voting and non-voting common stock as ofNovember 19, 2012.

The special dividend has a dividend yield of 37%.

Get a 9.6% Special Dividend from this Retailer

The Buckle, Inc. (NYSE: BKE) announced that at a meeting of the Board of Directors, held on November 5, 2012, the Board authorized a $4.50 per share special cash dividend to be paid to shareholders of record at the close of business on December 7, 2012.

The Board also authorized a $0.20 per share quarterly dividend to be paid to shareholders of record at the close of business on December 7, 2012. The $0.20 per share quarterly dividend accelerates and replaces the regular quarterly dividend that has historically been paid in January.

Both the special cash dividend and the regular quarterly dividend are payable on December 21, 2012 and will be paid together.

The combined special and regular dividends are a dividend yield of 9.6%.

Buckle Inc. is a retailer of moderate to better-priced casual apparel, footwear and accessories for fashion-conscious men and women between the ages of 15 and 30, with the “sweet spot” being college students and recent college graduates.  About 40% of the company’s merchandise mix is men’s and the remaining 60% women’s.

BKE is known as a denim destination; the company carries more than 1,000 denim styles from over 20 leading brand names, including Buffalo, 7 For All Mankind, Diesel, GStar RAW and Buffalo, as well as its own private label brands such as BKE, ReClaim, Buckle Black and Daytrip.

The company operated 439 stores in 43 states as of August 30, 2012. Stores average about 5,000 square feet, with individual store inventories tailored to reflect climate and seasonal differences, as well as historical sales data. In FY 12 (Jan.), average sales per store were $2.3 million and average sales per square foot were $462, up 8.5% and 7.9% from FY 11, respectively.

The Buckle has an equity summary score of 7.3 out of 10 for a Bullish outlook.  The Buckle has a 12-month price target of 52.

REIT Conversion with 18% Special Dividend Yield

Ryman Hospitality Properties Inc. (NYSE: RHP) declared a special dividend of $6.84 a share, marking another step towards the hospitality-and-entertainment company’s conversion into a real estate investment trust.  The dividend is payable to stockholders of record as of Nov. 13. The company plans to pay the dividend on Dec. 21.

The special dividend equates to a dividend yield of 18.14%.

Ryman, formerly known as Gaylord Entertainment, owns four massive conference resorts and had previously disclosed plans to offer a special dividend as part of its conversion to a REIT. In May, Gaylord Entertainment agreed to sell its brand and management operations to Marriott International Inc. (MAR) for $210 million, following a strategic review of its business.

Shareholders will have the option to receive the dividend in the form of cash or shares of common stock, with the total amount of cash payable to shareholders limited to about $61.9 million.

“The special dividend brings us one step closer to completing our conversion to a REIT effective January 1, 2013,” said Colin Reed, chairman, CEO and president of Ryman Hospitality Properties.  “We believe the REIT structure will support our strategic direction and the tax efficiency of the REIT structure will provide a benefit to our shareholders.”

Company Shares Blowout Earnings with a Special Dividend

Television broadcasting company Sinclair Broadcast Group, Inc. (NASDAQ: SBGI) sees revenues increase 49% in quarter, 36% in 9 months and net income increase of 59% over 9 months 2012.  Sinclair rewarded shareholders with a special dividend added to the regular quarterly dividend.

The Company announced that its Board of Directors has declared a special cash dividend of $1.00 per share and a quarterly cash dividend of $0.15 per share on the Company’s Class A and Class B common stock.  The dividends are payable on December 14, 2012, to the holders of record at the close of business on November 30, 2012.  Sinclair is currently trading at $13.21 so the combined dividend yield is 8.71%.

Net broadcast revenues from continuing operations were $226.4 million for the three months ended September 30, 2012, an increase of 49.0% versus the prior year period result of $151.9 million.  The Company had operating income of $78.6 million in the three-month period, as compared to operating income of $52.4 million in the prior year period.  Net income attributable to the Company was $26.2 million in the three-month period, versus net income of $19.2 million in the prior year period.

The Company reported diluted earnings per common share of $0.32 for the three-month period ended September 30, 2012 versus diluted earnings per common share of $0.24 in the prior year period. Excluding $3.4 million in one-time expenses related to the Company’s amendment of its bank credit facility, net of taxes, diluted earnings per share would have been$0.36 in the third quarter 2012.

Net broadcast revenues from continuing operations were $637.6 million for the nine months ended September 30, 2012, an increase of 36.5% versus the prior year period result of $467.2 million.  The Company had operating income of $210.2 million in the nine-month period, as compared to operating income of $162.1 million in the prior year period.  Net income attributable to the Company was $85.7 million in the nine-month period, versus net income of$53.1 million in the prior year period.

The Company reported diluted earnings per common share of $1.05 in the nine-month period ended September 30, 2012 versus diluted earnings per common share of $0.66 in the prior year period.

Sinclair Broadcast Group has an equity summary score of 9.9 out of 10 for a VERY Bullish outlook.  The stock has a 12-month price target of $15.

Sinclair Broadcast Group, the largest and one of the most diversified television broadcasting companies, owns and operates, programs or provides sales services to 74 television stations in 45 markets.  Sinclair’s television group reaches approximately 26.3% of U.S. television households and is affiliated with all major networks.

LyondellBasell offers a Special Dividend and Regular Dividend

LyondellBasell (NYSE: LYB) has authorized the company’s Management Board to declare a special dividend of $2.75 per share to be paid Dec. 11, 2012 to shareholders of record Nov. 19, 2012, subject to the adoption of a resolution by the Management Board, which is expected to occur Nov. 19, 2012.  The special dividend of approximately $1.6 billion will return value to shareholders and will be paid with existing cash on hand.

The special dividend is separate from and in addition to the company’s interim dividend of$0.40 per share, which is anticipated to be authorized by the Supervisory Board and approved by the Management Board for payment to shareholders of record at the same time as the special dividend.

The combined special dividend and regular dividend of $3.15 has a dividend yield of 5.82%.  The special dividend has a yield of 5.08%.  LyondellBasell has a regular dividend yield of 3.0%.

Overall, LyondellBasell posted a profit of $844 million, or $1.46 a share, versus $895 million, or $1.51 a share, the year earlier. The most recent period was helped by 11 cents in benefits from one-time items, while the year-ago period saw a three-cent charge from such items.

The most recent period included a $71 million reversal of a noncash, lower of cost or market inventory valuation adjustment recognized in the second quarter, while the year-before period included $100 million from a hurricane insurance settlement.

Revenue slumped 9.9% to $11.27 billion.

Analysts polled by Thomson Reuters most recently forecast earnings of $1.45 a share on$11.37 billion in revenue.

LyondellBasell is one of the world’s largest plastics, chemical and refining companies and a member of the S&P 500 Index.

On October 26, 2012 EVA Dimensions, LLC upgraded LYONDELLBASELL INDUSTRIES NV from HOLD to OVERWEIGHT.

LyondellBasell has an equity summary score of 9.6 out of 10 for a VERY Bullish outlook.  First Call analysts have a Buy recommendation with a 1.9 stock rating.

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