Las Vegas Sands declares $2.26B special dividend

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Associated Press

Posted on November 26, 2012 at 7:01 PM

Updated Monday, Nov 26 at 7:01 PM

NEW YORK (AP) — Casino operator Las Vegas Sands Corp. plans to pay a special dividend of $2.75, distributing about $2.26 billion to its shareholders by the end of the year.

The company says the dividend will be payable Dec. 18 to shareholders of record on Dec. 10. Chairman Sheldon Adelson says returning capital to shareholders is a priority for the company.

The casino operator is the latest company to move up its quarterly payout or issue a special end-of-year payment to protect investors from potentially having to pay higher taxes on dividend income starting in January.

Las Vegas Sands runs casinos in Las Vegas, Pennsylvania, Singapore and Macau. The company had 823.4 million shares on the market as of Nov. 1.

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