Christmas in July
USNews.com: Biz Buzz: Christmas in July (7/21/04)Christmas in July
By Paul J. Lim
Santa Claus has a new name, and it's Bill Gates.
Yesterday, the company Gates cofounded, Microsoft, announced the biggest special one-time dividend in the history of corporate America. The software giant, which dominates an industry not known for dividends, says it will give shareholders $3 back per share as a special payout. "It's the biggest dividend ever," says Howard Silverblatt, equity market analyst for Standard & Poor's and an expert on corporate dividend policies. "It's beyond big—it's enormous."
All told, the dividend will amount to $32 billion in wealth that the company is transferring back to shareholders and injecting into the economy, just in time for Christmas.
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