They didn’t have to do it, but it’s respectful to their owners.
(Reuters) - Wal-Mart Stores Inc on Monday became the biggest corporation yet to move its planned dividend into late December from early January to help shareholders avoid a looming jump in the tax rate on payouts due to the so-called fiscal cliff.
The move by the world’s largest retailer will give shareholders, including the family of founder Sam Walton, roughly $1.34 billion in total dividend payments taxed at the current rate.
Fiscal years for retailers typically end in late January, so their dividend payments often are timed differently from those of other types of companies. Exxon Mobil Corp, for instance, already planned for payouts in December.
“There are complex fiscal and federal tax rate issues that may not be resolved in the next few weeks, despite the ongoing good faith negotiations between the administration and Congress to resolve details related to the fiscal cliff,” Wal-Mart said in a statement.
“In light of this uncertainty, the board determined that moving our dividend payment up by a few days to 2012 was in the best interests of our shareholders.”
Tribute paid to King Obama from tax events like this will be at all time highs for the current calendar year.
It will cause people like Krugman to even think a “strong recovery” is in full bloom as government tax receipts rise.
In the end though it will be like the cash for clunkers. We’ve just accelerated a bunch of tax from future years into 2012 and the destructive process of government manipulation of the business cycle will continue.
Give me a break! Raising the capital gains tax is long overdue. It’s gone up and down over the last 30 years…time to go back up. Interesting assessment on Morning Joe. http://www.huffingtonpost.com/2012/11/26/joe-scarborough-tax-rates_n_2191232.html
Glad some Republicans are finally rejecting the cult of Grover Norquist.