TD AMERITRADE will disburse a special dividend later this month, the company announced in a press release. The discount brokerage will pay $0.50 per share on Dec. 31 to shareholders of record Dec. 21.
The company becomes the latest in a wave of firms paying special dividends this month. Many are doing so in anticipation of a significant rise in taxes on dividends starting next year if key aspects of the so-called "fiscal cliff" are not modified.
The moves also comes a little over one month after TD AMERITRADE raised its regular quarterly dividend by 50% to $0.09 per share.
The press release quoted CEO Fred Tomczyk as saying that "we have determined that an additional, one-time dividend is another good strategic and financial use of our capital at this time."
The article TD AMERITRADE Declares Special Dividend originally appeared on Fool.com.Eric Volkman owns shares of TD AMERITRADE. The Motley Fool has no positions in TD AMERITRADE. Motley Fool newsletter services recommend TD AMERITRADE. 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.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.