Las Vegas Sands Corp.(NYSE:LVS), which operates
casinos, late Monday, said that it would be paying a special dividend of $2.75,
paying out 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 who appear on the records of the company as on Dec. 10.
Chairman Sheldon Adelson said returning capital to
shareholders is a priority for the company.
This year many companies have resorted to paying
higher income in the form of dividends to shareholders so that they will not be
burdened with having to pay higher tax on dividends from January onwards.
Income on dividend has been raised and this will be
effective from the New Year.
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, Associated Press said in a report.
Las Vegas runs a chain of casinos across the
Pennsylvania, Singapore and Macau.
Shares of the company soared 5.72% to $46.55.
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