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 due to the so-called fiscal cliff.
The shift 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, had already planned for payouts in December.
Monday, November 19, 2012
Walmart and others move up dividends to avoid fiscal cliff tax hikes.
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