NEW YORK ( TheStreet) -- New tax laws and regulations often force those affected to find creative ways around them.
We are seeing the early manifestations of this as scores of companies declare special cash dividends to be paid in 2012, ahead of the expected increases in taxes on qualified dividends.
In some cases, depending on income, the tax rate is scheduled to nearly triple from 15% to 43.4%, and some companies are rushing to push cash out to shareholders.
The granddaddy of them all, so far, is Costco's (COST) $7 special dividend, which will cost the company $3.024 billion, by my calculation. But that will still leave the company with more than $1.8 billion in cash and short-term securities.Oracle (ORCL) is taking a different approach, announced yesterday, by accelerating its normal six-cents a share dividend for the next three quarters, paying it all out at once prior to year end. But my favorite special cash dividend story is that of Tellabs (TLAB), a company I
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