Oracle's (ORCL) Ellison Could Save a Cool $50 Million on Tax Bill After Paying Dividend Early

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.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Pegasystems (PEGA) Declares $0.083 Special Dividend; 0.2% Yield
• Columbia Banking System (COLB) Declares $0.37 Quarterly Dividend; 4.6% Yield
• Atmus Filtration Technologies (ATMU) Raises Quarterly Dividend 9.1% to $0.06; 0.5% Yield