Tuesday, November 27, 2012

Sheldon Adelson to Pocket $1.2 Billion in Cold Cash Ahead of 2013 Tax Increases

Las Vegas Sands, the casino company led by billionaire Sheldon Adelson, voted a special dividend that will pay Adelson about $1.2 billion before an expected increase in federal taxes.

The Las Vegas-based company will pay the $2.75-a-share dividend, its first such distribution, on Dec. 18 to investors of record on Dec. 10, according to a statement yesterday. This month, the company also raised its regular annual dividend by 40 percent to $1.40 a share.

Adelson holds approximately 48 million shares.

Now the question becomes how much of it will he spend promoting neocon politicians?

1 comment:

  1. Buffett billionaire Warren Buffett said no one makes investment decisions based on taxes! Or should I say the pen name "Warren Buffett" in the op-Ed of the NYT.