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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.

List of 8 Special Dividend Offers Before Year End Tax Changes

Given the potential significant increases in tax rates on dividends beginning next year, and their strong levels of capital, it is an opportune time for many companies to provide special dividend distributions to their shareholders before the end of the year.  While most companies are sitting on higher levels of cash than in years past, it is becoming the common thing to pass more dividends to their shareholders before yearend.  Here is a list of notable special dividends being offered to shareholders over the past week.

On October 30, 2012, Select Medical (NYSE: SEM)‘s board of directors declared a special cash dividend of $1.50 per share, totaling approximately $210.8 million.  This special cash dividend will be paid on or about December 12, 2012 to all stockholders of record at the close of business on December 5, 2012. The special dividend has a current yield of 13%.

“The dividend allows us to return capital to stockholders without diminishing our ability to pursue investment and acquisition opportunities,” stated Robert A. Ortenzio, Select Medical’s Chief Executive Officer. The dividend is expected to be funded with cash on hand and borrowings under Select Medical’s existing revolving credit facility.  Select Medical (SEM) anticipates using approximately $100.0 million of available cash on hand toward the funding of the dividend.  Select Medical’s leverage ratio (total debt to Adjusted EBITDA) at September 30, 2012 was 3.35, compared to 3.62 at December 31, 2011.

Select Medical has an equity summary score of 9.6 out of 10 for a VERY BULLISH outlook.

Sinclair Broadcast Group, Inc. (NASDAQ: SBGI) says its board 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.

 

The combined dividend is a yield of 9.25%. Sinclair Broadcast has an equity summary score of 9.9 out of 10 for a VERY BULLISH outlook.

 

Commerce Bancshares, Inc. (NASDAQ: CBSH) announced that its Board of Directors approved a 5% stock dividend payable on December 17, 2012 to shareholders of record at the close of business on November 30, 2012. Commerce Bancshares closed at $38.38.  This makes the 5% stock dividend worth $1.92 in current stock value.

For beginners, Commerce Bancshares is offering .05 shares of stock for each 1 share owned by the investor (this excludes fractional shares).  For example, an investor holding 100 shares of CBSH will receive an additional 5 shares for their 5% stock dividend.

Also the Board of Directors approved a regular quarterly dividend of $0.23 per share on the company’s common stock and also authorized a special cash dividend of $1.50 per share.  This is a combined cash yield of 4.51% for the special and regular dividends.

Both dividend payments will be payable December 17 to stockholders of record at the close of business on November 30, 2012. The dividend will not be payable on any shares to be issued pursuant to the 5% stock dividend also declared on this date.

Commerce Bancshares has an equity summary score of 7.6 out of 10 for a BULLISH outlook.

HollyFrontier Corp.’s (NYSE: HFC) Board of Directors approved a 33% increase in its regular quarterly cash dividend to $0.20 per share from the current rate of $0.15 per share. The regular dividend will be paid on December 21, 2012 to holders of record of common stock on December 10, 2012.

The company also announced today a special cash dividend in the amount of $0.50 per share. The special dividend will be paid on November 30, 2012 to holders of record of common stock on November 15, 2012.

HFC is trading at $37.72 making the combined dividend payout with a yield of 1.86%.  HollyFrontier Corp has an equity summary score of 9.7 out of 10 for a VERY BULLISH outlook.

Masimo (NASDAQ: MASI)  announced that its Board of Directors has declared a special cash dividend of $1.00 per share, payable onDecember 11, 2012 to stockholders of record as of the close of business on November 27, 2012.  The special dividend is a yield of 4.5%.

The payout for the special $1.00 per share cash dividend announced today is expected to be about $57.2 million, based on the current shares outstanding, and will be reflected in the company’s fourth quarter and full year 2012 financial statements.  The special dividend payout represents only a portion of the company’s cash reserves, which the Board believes is sufficient to cover operational needs, and fund continued research and development investments and strategic initiatives.

Masimo has an equity summary score of 6.9 out of 10 for a NEUTRAL outlook.

Astec Industries, Inc. (NASDAQ: ASTE) announced that the Board of Directors declared a special one-time dividend of $1.00 per share to be paid on December 12, 2012 to shareholders of record as of November 20, 2012. The special dividend is a yield of 11.1%. Astec Industries has an equity summary score of 2.6 out of 10 for a BEARISH outlook.

Commenting on the declaration of the Astec dividend, Dr. Brock said, “We have maintained a strong balance sheet for several years but have not found the right acquisitions in which to invest our excess cash.  While acquisitions are still a high priority for us, the Board of Directors decided to declare a special one-time dividend as a tangible return of value to our shareholders while the tax rates are still advantageous.”

On November 1, 2012 the board of directors at Universal American Corp (NYSE: UAM) approved a dividend of 1.00 per share. The dividend is payable on November 19, 2012 to shareholders of record on November 12, 2012.  The special dividend is a yield of 11.1%. Universal American has an equity summary score of 2.6 out of 10 for a BEARISH outlook.

The Board of Directors of RGC Resources, Inc. (NASDAQ: RGCO) declared a special dividend of$1.00 per share on the Company’s common stock. The dividend will be paid on December 17, 2012 to shareholders of record on November 30, 2012.  The special dividend is a yield of 5.5%. RGC Resources has an equity summary score of 1.9 out of 10 for a BEARISH outlook.

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.

The House offers an $8.00 Special Dividend

Wynn Resorts (WYNN) announced today that the Company has approved an $8.00 cash dividend, which includes the $0.50 per common share quarterly dividend. This dividend will be payable on November 20, 2012, to stockholders of record on November 7, 2012 and the stock will begin to trade ex-dividend on November 5, 2012.  Wynn has a current dividend yield of 1.79%.  The $8.00 special dividend is a yield of 6.7%.

Additionally, the Company plans on increasing its quarterly dividend to $1.00 per share in 2013.

Net revenues for the third quarter of 2012 were $1,298.5 million, compared to $1,298.3 millionin the third quarter of 2011. Adjusted property EBITDA  was $402.6 million for the third quarter of 2012, compared to $381.1 million in the third quarter last year, as Wynn Las Vegas’ EBITDA increased $25.3 million.

Long-term growth potential of the Macau market remains solid. We also remain encouraged by the company s strong brand name, healthy balance sheet, strong cash flow position, relatively low capital requirements and its ability to perform in a difficult operating environment.

Wynn Resorts has an equity summary score of 7.3 out of 10 for a Bullish outlook.

Homeowners Choice is a Strong Buy with Special Dividend

Homeowners Choice, Inc. (HCII) announced that its board of directors has declared a regular quarterly cash dividend on its common shares in the amount of $0.225 per share, which represents a 12.5% increase over the previous quarterly rate of $0.20 per share.  Homeowners Choice has a current dividend yield of 3.74%.

In addition, the board declared a special dividend of $0.10 per common share.  Both the regular quarterly dividend and the special dividend will be paid Dec. 21, 2012 to shareholders of record on the close of business Nov. 16, 2012.

Homeowners Choice, a leading provider of homeowners’ insurance, today announced that it will transfer the listing of its common stock from the NASDAQ Global Select Market to the New York Stock Exchange. The company expects its shares to begin trading on the New York Stock Exchange on Oct. 25, 2012, under the new ticker symbol “HCI.” Until the transfer is complete, the company’s common shares will continue to trade under the ticker symbol “HCII” on the NASDAQ Global Select Market.

Better-than-expected second-quarter earnings, growth in revenues and strong credit quality are the primary rank drivers for this stock.

Homeowners Choice reported its second-quarter results on August 1 with earnings per share of 74 cents, beating the Zacks Consensus Estimate of 60 cents by 23.3% and year-ago earnings of 30 cents by 146.7%. Strong results for the quarter were primarily aided by substantially higher net premiums earned. However, slightly lower net investment income and higher expenses were the downsides.

Net premiums earned increased 112.8% to $36.3 million from $17.0 million in the year-ago quarter.

The Zacks Consensus Estimate for 2012 increased 8.8% to $2.46 per share based on two out of three upward estimate revisions over the last 30 days. The current estimate implies year-over-year growth of 101.4%.

For 2013, two out of three estimates was revised higher over the same time frame, lifting the Zacks Consensus Estimate by 23.1% to $2.45 per share.

Homeowners Choice has an equity summary score of 9.7 out of 10 for a VERY Bullish outlook.

2 More Special Dividend Offerings from Bullish Companies

HCA Holdings, Inc. (HCA) announced today that it intends, subject to applicable legal and contractual restrictions, to declare and pay a special cash dividend of $2.50 per share to stockholders during the fourth quarter of 2012.   With the stock trading at $31.88, the special dividend will be a 7.85% dividend yield.

HCA anticipates revenues for the third quarter will approximate $8.062 billion, compared to $7.258 billion in the third quarter of 2011.  Net income attributable to HCA Holdings, Inc. for the third quarter of 2012 is anticipated to be approximately $360 million, compared to $61 million in the third quarter of 2011.  Earnings per share (EPS) is estimated to be $0.78 for the third quarter of 2012 compared to $0.11 per share in the third quarter of 2011.

HCA has an equity summary score of 9.8 out of 10 for a VERY Bullish outlook.  HCA has a 12-month target price of $38.

 

Murphy Oil Corp. (MUR) declared a $500 million special dividend and a stock repurchase plan of up to $1 billion. It plans to pay the special $2.50 dividend on, or about, Dec. 3, to shareholders of record as of Nov. 16. With the stock trading at $59.00, the special dividend will be a 4.24% dividend yield.

Murphy Oil Corp.’s board approved the spinoff of its U.S. downstream unit, Murphy Oil USA Inc., as the company intends to focus on exploration and production activities in the U.S.,Canada and Malaysia.

Earlier this month, Murphy Oil said it was meeting with Third Point LLC–a hedge fund run by Dan Loeb that had accumulated a “significant stake” and had recently filed for regulatory approval to increase that position, if it desired.

Third Point had spelled out a four-step process for the energy company that included a spinoff of the retail business, selling its Canadian Natural Gas assets, completely exiting the U.K. refining business and selling its 5% stake in Syncrude oil sands projects.

Murphy Oil said it expects to complete the spinoff of Murphy USA in 2013.  Murphy USA’s business will consist of retail marketing of petroleum products, a chain of retail gasoline stations, seven product distribution terminals and two ethanol production facilities inNorth Dakota and Texas.

Murphy Oil has an equity summary score of 8.3 out of 10 for a Bullish outlook.  Murphy Oil has a 12-month target price of $63.60.

A Solid Company offering a 9% Special Dividend

TransDigm Group Incorporated (TDG) declared a special cash dividend of $12.85on each outstanding share of common stock and cash dividend equivalent payments under certain of its stock option plans. The record date for the special dividend is October 25, 2012, and the payment date for the dividend is November 5, 2012.

TDG is currently trading at $148.70 so the special dividend is an 8.64% dividend yield.  TransDigm Group does not pay a regular dividend.

TransDigm Group is a leading global designer, producer and supplier of highly engineered aircraft components for use on nearly all commercial and military aircraft in service today.  The Company is up 72% in the last year and has exceeded analysts’ earnings estimates the past 6 quarters.  EPS has increased 116% in the past year compared to the same period one year earlier.

The improved results were aided by acquisitions of Schneller, Harco and AmSafe, which increased the company’s backlog.  Commercial OEM (original equipment manufacturer) markets were major benefactors. TransDigm raised its guidance driven by the good performance in the first half of the year.  The company’s strong free cash flow and well planned capital structure creates shareholder value

W. Nicholas Howley, TransDigm Group’s Chairman and Chief Executive Officer – “With approximately $440 million of cash as of September 30, 2012, an available revolver of approximately $300 million and our strong ongoing cash generation, we feel we have adequate capital to meet our likely acquisition needs.  Additionally, given current capital market conditions, we believe we have access to significant additional capital if an attractive larger opportunity becomes available.”

Zacks Investment Research has an OUTPERFORM rating with a 12-month price target of $166.

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