Special Dividends Can't Create Value

Many companies rushed to pay out dividends before the end of 2012. They wanted to distribute cash to shareholders before the tax rate on dividend income went up in 2013. That made sense if the payments would otherwise have been paid early in 2013's first quarter anyway.

Oracle (ORCL) paid three quarters worth of normal distributions in late December. Perhaps Larry Ellison was feeling cash poor. Some companies went as far as paying two or three years' worth of payouts in advance....378 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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