The list of companies announcing special, pre-fiscal cliff dividend payouts just got a little bit longer. On Monday after the close of trading, Limited Brands announced that on Dec. 26, it will pay a special dividend of $3 per share to shareholders of record as of close of business Dec. 20.
With 288.4 million shares outstanding, the special dividend will cost Limited approximately $865 million, which is more than the $547 million in cash the company had on hand at last report. Limited did not explain how it will raise cash to pay for the difference.
Shares declined 1% in Monday trading, before the special dividend was announced.
The article Limited Brands Declares $3-Per-Share Special Dividend originally appeared on Fool.com.Fool contributor Rich Smith and The Motley Fool have no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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