TITLE

Jumping on the Dividend Bandwagon

AUTHOR(S)
Tunick, Britt Erica
PUB. DATE
June 2003
SOURCE
Investment Dealers' Digest;6/30/2003, Vol. 69 Issue 26, p11
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The dividend tax cut signed into law by U.S. President George W. Bush in late May already is leading some publicly traded companies to boost dividends they pay shareholders, hoping it will help the share price. And even those that can't afford to offer much in the way of dividends may find a way to benefit from other parts of the tax law changes. Last week, company Goldman Sachs and Bank of America (BofA) joined various other companies that have raised their dividends. Goldman last week more than doubled its dividend to $0.25 per share, and BofA raised its quarterly dividend 25% to $0.80, from $0.64. One of the first companies to anticipate the dividend tax cut was Microsoft Corp., which announced its first-ever annual dividend, of $0.16, in January. Under the new law, debt won't be deductible, which arguably will diminish the pricing differential between debt and equity.
ACCESSION #
10202330

 

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