Oracle's (ORCL) Ellison Could Save a Cool $50 Million on Tax Bill After Paying Dividend Early
Get Alerts ORCL Hot Sheet
Join SI Premium – FREE
Oracle's (Nasdaq: ORCL) CEO Larry Ellison is getting an early Christmas present this year courtesy of the company he founded.
Oracle declared a special dividend of $0.18 per share after accelerating its regular Q2, Q3, Q4 dividend for fiscal 2013 ahead of the fiscal cliff.
With ~1.1 billion shares of Oracle common stock, Mr. Ellison's cut on the dividend is ~$199 million.
Paying out the dividend early, Mr. Ellison stands to save some $50 million in taxes if rates on dividends for the high end go up to 40% from their current 15% rate.
Oracle said Mr. Ellison did not participate in the deliberation or the vote on this matter.
Oracle declared a special dividend of $0.18 per share after accelerating its regular Q2, Q3, Q4 dividend for fiscal 2013 ahead of the fiscal cliff.
With ~1.1 billion shares of Oracle common stock, Mr. Ellison's cut on the dividend is ~$199 million.
Paying out the dividend early, Mr. Ellison stands to save some $50 million in taxes if rates on dividends for the high end go up to 40% from their current 15% rate.
Oracle said Mr. Ellison did not participate in the deliberation or the vote on this matter.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Oppenheimer Starts Oracle (ORCL) at Perform, 'Improving Fundamentals Offset by a Less Efficient Cash Model'
- D. R. Horton (DHI) Declares $0.30 Quarterly Dividend; 0.8% Yield
- Public Service Enterprise (PEG) Declares $0.60 Quarterly Dividend; 3.7% Yield
Create E-mail Alert Related Categories
Dividends, Insiders' Blog, Special DividendsRelated Entities
Dividend, Larry EllisonSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!