Skip to comments.Brown-Forman Declares $4 Special Dividend Ahead of Cliff Deadline
Posted on 11/27/2012 9:02:35 AM PST by mykroar
Two weeks after raising its regular quarterly dividend, Brown-Forman (BFB n.a.) declared a special cash dividend of $4.00 a share on Tuesday as it looks to return money to shareholders ahead of the fiscal cliff deadline that could significantly raise dividend taxes.
The maker of alcoholic beverages like Jack Daniels Tennessee Whiskey, Southern Comfort, Korbel and Woodford Reserve said the special dividend will be paid on Dec. 27 to shareholders of record on Dec. 12.
A slew of companies, including Wal-Mart (WMT), have been moving up the date of their dividend to save shareholders a bundle of money on taxes if the U.S. falls over the cliff at the end of this year.
(Excerpt) Read more at foxbusiness.com ...