Las Vegas Sands Corporation (LVS) declares special dividendNovember 26, 2012 6:01 PM by Ray Poirier
Fearing tax consequences that could result from lack of Congressional action regarding the so-called “Fiscal Cliff,” the Las Vegas Sands Corp. (LVS) announced on Monday that the directors had agreed to pay a special dividend to shareholders prior to the end of the calendar year.
The special dividend of $2.75 per share will be paid on Dec. 18 to shareholders of record on Dec. 10. Total amount to be paid will be approximately $2.26 billion.
Company founder and Chairman Sheldon Adelson said that returning capital to shareholders was a company priority.
Several publicly-traded companies have announced similar early dividend payments that seek to avoid possible tax increases in 2013.
As for the Las Vegas Sands, it was noted that Adelson and his family control 52 percent of the company.
Ray Poirier is the longtime executive editor at GamingToday.
Contact Ray at RayPoirier@GamingToday.com.
The Arizona Cardinals have hired Jen Welter to coach inside linebackers through their upcoming training camp and preseason.
Tom Brady’s four-game suspension for his role in using underinflated footballs during the AFC championship game last season has been upheld by NFL Commissioner Roger Goodell. The league announced the decision Tuesday.
Jose Fernandez looks for his 15th consecutive home victory when he leads Miami against the Washington Nationals in the first of a three-game series at Marlins Park. The Nats lead the National League East.
Poker Scene | The Bicycle Hotel and Casino in Bell Gardens, California, will be hosting the World Poker Tour/Legends of Poker tournament series starting Tuesday, July 28, and running through September 4.
Slot Club Spotlight | Coming up on its one-year anniversary, SLS Las Vegas is reinventing itself and has already revamped its slot club, but not its name. The CODE promises a “new club,” with “new tiers” and “new benefits.”