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