By Saabira Chaudhuri
Several companies said Tuesday they are accelerating their
dividend payments, adding to a growing list of companies looking to
make payments to investors before the possibly impending "fiscal
cliff."
Luxury retailer Coach Inc. (COH) said its regular quarterly 30
cent per-share dividend will be paid Dec. 27. instead of Jan 2.
Shoe retailer DSW Inc. (DSW) and automotive-repair company Monro
Muffler Brake Inc. (MNRO) both said they would accelerate their
regular per-share fourth-quarter dividend payments--of 18 cents and
10 cents, respectively, to coincide with their third-quarter
dividend payments. DSW said it would now pay its dividend Dec. 28,
while Monro said it would pay its Dec. 21.
"Given our strong balance sheet, and the likelihood of a change
in the tax rates on dividends beginning next year that will subject
a significant part of the company's U.S. shareholder base to
increased dividend taxation for 2013, we believe it is prudent to
accelerate the timing of the payment of our fourth quarter dividend
to our shareholders into calendar year 2012," Monro Chairman Rob
Gross said.
Quality Systems Inc. (QSII) will pay its per-share 17.5 cent
quarterly dividend Dec. 28, instead of Jan 4. Meanwhile, Questcor
Pharmaceuticals Inc. (QCOR) said it will pay its 20 cent per-share
dividend on or about Dec. 21. The dividend would have been paid in
the first quarter of next year.
Shares of Coach closed Monday at $58.20, while Monro closed at
$31.92, Questcor at $25.66 and Quality Systems at $17.94. Class A
shares of DSW closed at $67.79. All were inactive in recent
premarket trading.
Write to Saabira Chaudhuri at saabira.chaudhuri@dowjones.com
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