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.
Subscribe to our Daily Roundup Email
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.
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.
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
He gets over a billion dollars in “special” dividends which means federal taxpayers will have to pay even more in January…..me kamocha yisroel.
Adelson is a good man.
Wow. More money for the next sleaziest candidate!
Sleaze attracts sleaze
He needs to unbutton his suit!
Envious voices here of other’s riches.
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!
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.
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.