NEW YORK, NY--(Marketwire - Nov 28, 2012) - A dividend tax increase has been a major concern for investors as the upcoming fiscal cliff approaches. Major companies such as Las Vegas Sands and Wal-Mart have declared special dividends or have moved up quarterly dividend payments in attempts to avoid the looming tax increase. Five Star Equities examines the outlook for dividend yielding companies and provides equity research on Las Vegas Sands Corp. (
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U.S. investors are set to face a dividend tax increase in the New Year. The current top tax rate on dividends of 15%, which was set in the Bush-era, will expire in January. If lawmakers fail to take action dividends will be taxed at the same level as wages and salaries in 2013. President Obama's plan would see the top tax rate on dividends rise to 39.6 percent for high-income earners, which doesn't include the new 3.8 percent tax on investment income added by Obama's health-care law.
"The prevailing fear is that if taxes for dividends increase, dividend yielding companies could grow less attractive and could see a multiple de-rating," said Savita Subramanian, a strategist at Bank of America Merrill Lynch.
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Las Vegas Sands currently offers investors an annual dividend of $1.00 per share for a yield of approximately 2.2 percent. Shares of the company surged over 5 percent after reporting it plans to pay a special dividend of $2.75 per share on Dec. 18 to investors of record on Dec. 10. Las Vegas Sands also plans to raise its annual dividend to $1.40 per share in 2013.
Wynn Resorts currently offers investors an annual dividend of $2.00 per share for a yield of approximately 1.85 percent. The company in their latest earnings release reported that it has approved a special cash dividend of $8.00 per share, which includes the $0.50 quarterly dividend. Additionally, the company plans on increasing its quarterly dividend to $1.00 per share in 2013.
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