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Casinos & Gaming

Las Vegas Sands declares $2.75 per share special dividend

STAFF and WIRE REPORTS
November 26, 2012 - 2:25 pm
 

NEW YORK - 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.

Adelson and his wife, Miriam, control 52 percent of Las Vegas Sands personally and through various general trusts. The special dividend will pay the Adelsons roughly $1.17 billion.

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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