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Las Vegas, NV - Adelson To Profit $1.19 Billion On Sands $2.26B Special Stock Dividend

Published on: November 26, 2012 07:15 PM
By: AP
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File - American Sheldon G. Adelson (L), Chairman and CEO of the Las Vegas Sands Corporation, speaks at a press conference for the Opening Ceremony of the Sheraton Macao at Catai Central in Macao SAR, China, 20 September 2012.  EPA/David G. McIntyreFile - American Sheldon G. Adelson (L), Chairman and CEO of the Las Vegas Sands Corporation, speaks at a press conference for the Opening Ceremony of the Sheraton Macao at Catai Central in Macao SAR, China, 20 September 2012.  EPA/David G. McIntyre

Las Vegas, NV - 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.

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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.

Las Vegas Sands shares lost 15 cents to $44.03 Monday and gained $2.02, or 4.6 percent, to $46.05 in aftermarket trading.


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Read Comments (15)  —  Post Yours »

1

 Nov 26, 2012 at 07:48 PM Kzler Says:

The epitomy of rectitude, high ethical behiavor and anti-liberal behavior, gambling in the U.S., profits from harlotry in Macau and shopping sprees in Communist China. That is how a Jew should be viewed by the non-Jews , rich and corrupt

2

 Nov 26, 2012 at 07:54 PM Anonymous Says:

He gets over a billion dollars in "special" dividends which means federal taxpayers will have to pay even more in January.....me kamocha yisroel.

3

 Nov 26, 2012 at 09:00 PM Brian Says:

Adelson is a good man.

4

 Nov 26, 2012 at 09:20 PM Anonymous Says:

Wow. More money for the next sleaziest candidate!

5

 Nov 27, 2012 at 05:48 AM Kzler Says:

Sleaze attracts sleaze

6

 Nov 27, 2012 at 08:46 AM LuckyStrike Says:

He needs to unbutton his suit!

7

 Nov 27, 2012 at 09:23 AM Yawvous Says:

Envious voices here of other's riches.

8

 Nov 27, 2012 at 10:28 AM PMOinFL Says:

Reply to #3  
Brian Says:

Adelson is a good man.

Adelson is a "good man"? Why? Because he donated money to your political candidate of choice?

Does a "good man" use his his financial power to buy influence in the government?
Does a "good man" fight tooth and nail to prostitution legal in countries where he has resorts?
Does a "good man" make profits by selling women in the sex trade?
Does a "good man" celebrate pornography by hosting the pornography award shows and largest pornography conventions at his resorts?

Adelson is a sleaze and always has been. That's why he aligned himself so tightly with Gingrich. They are both two of the most morally corrupt people in our nation today.

9

 Nov 27, 2012 at 10:36 AM PMOinFL Says:

Reply to #3  
Brian Says:

Adelson is a good man.

So... I guess the Obama years haven't been ALL bad for Adelson after all. In a "down economy" his company has enough money to pay him a $2.26 billion DIVIDEND.

It makes you wonder how much is enough for people like him? How much is enough that he was willing to spend the kind of money he spent on Gingrich and Romney on the CHANCE he might save 1-2% on his taxes.

My guess is it had more to do with removing some regulation that would have allowed him to further expand his sleaze-peddling.

Adelson is nobody to be celebrated. In fact, it is people like him that we should be turning our backs on, no matter how tempting it is to take his money. With every dollar we accept, we endorse his empire of sleaze. That is not to say what he does is illegal. In Macau prostitution is 100% legal (thanks in large part to Adelson himself) and while he doesn't employ prostitutes himself, they are readily available at his resorts and it is the #1 reason that American men travel there.

If there is one thing Dwek taught us. Sleazy money or dirty money has no place in our community. Just say "No".

Sleaze only buys more sleaze.

10

 Nov 27, 2012 at 01:41 PM Anonymous Says:

So I guess the consensus on Adelson is that he is a sleaze peddler. That is about all you can say huh? I mean, what if this guy actually reads this and wants to fix his neshama? Could it be possible for the VIN readers to send a message to this sleaze lord of the jewish faith? What can we do to help this poor slob be a more successful jew? Just curious. I mean, it makes me sick to know this guy. Does this guy understand humanity? Go back to 2nd grade Mr. Adelson!

11

 Nov 27, 2012 at 03:54 PM Buchwalter Says:

Reply to #10  
Anonymous Says:

So I guess the consensus on Adelson is that he is a sleaze peddler. That is about all you can say huh? I mean, what if this guy actually reads this and wants to fix his neshama? Could it be possible for the VIN readers to send a message to this sleaze lord of the jewish faith? What can we do to help this poor slob be a more successful jew? Just curious. I mean, it makes me sick to know this guy. Does this guy understand humanity? Go back to 2nd grade Mr. Adelson!

Mr. Adelson fits perfectly within the milieu of sleaze and some of the people posting on this website have called him a "good man". Apparently there a lot of zleazy "torah" people around

12

 Nov 27, 2012 at 04:28 PM ShmutzVesh Says:

Omg you idiots believe everything you hear? He is a good man with a good neshama! It's really none of anyone's business what he does. I'm sure noonday on this site ever dis anything wrong, or was accused of any wrongdoing. Everyone should be quiet and look at themselves.

13

 Nov 27, 2012 at 04:45 PM Kzler Says:

The obscenity is that he spent 53 million dollars to defeat Obama, allegedly his wife went on a shopping spree in the democratic conservative town of Beijing and here people are faced with increased taxes and various cuts. I wonder why there is not more hatred against us.

14

 Nov 27, 2012 at 04:56 PM Kzler Says:

Reply to #7  
Yawvous Says:

Envious voices here of other's riches.

Not envious but remarking the obscenity of his profits from gambling and [prostitution and then he is conservative and wants save E.Y. No contradiction.

15

 Nov 27, 2012 at 08:52 PM PMOinFL Says:

Reply to #12  
ShmutzVesh Says:

Omg you idiots believe everything you hear? He is a good man with a good neshama! It's really none of anyone's business what he does. I'm sure noonday on this site ever dis anything wrong, or was accused of any wrongdoing. Everyone should be quiet and look at themselves.

Nobody has to "believe" anything. Adelson's company PROUDLY and PUBLICLY lobbied the government to keep prostitution legal in Macau. FACTS don't require "belief". They are what they are. It's like saying you "believe" the moon is made of swiss cheese. Your beliefs have no bearing on reality.

It's not that we don't all do things wrong. I'm sure I do aveiros every day whether I realize it or not. That is not the same thing as knowingly profiting from the celebration of pornography or lobbying for the right to build a hotel with the purpose of allowing prostitutes to freely operate on the premises. He doesn't just ALLOW it. He FOUGHT for it. Why? Because a hotel with women available for rent can charge 3 times what any other resort can. It is what the "high rollers" want and he is happy to sell these women like a drug to anyone willing to pay for the Adelson "experience".

That beings said, I'm not accusing him of doing anything illegal. What he does there with prostitutes is 100% legal. What he does here with the big pornography companies is 100% legal. No rational person would say otherwise.

Those I hold in esteem must have higher moral standards than that.

16

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