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Dec. 13, 2012, 7:16 a.m. EST

Caterpillar, Legg Mason to accelerate payouts

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By Debbie Cai

(Updates with additional companies)

Caterpillar Inc. /zigman2/quotes/203434128/composite CAT -1.17% and a string of other companies Wednesday disclosed plans to pull forward their quarterly dividend payments, joining a growing list of those making moves ahead of next year's possibly impending "fiscal cliff."

Next month, several hundred billion dollars in automatic tax increases and spending cuts--dubbed the fiscal cliff--will begin if Congress and the White House don't intervene. The increases include a higher tax rate on dividends, and dozens of companies have approved one-time special dividend payments for December, while others have moved their quarterly payouts to December instead of early 2013.

Caterpillar's board is accelerating its quarterly dividend of 52 cents a share, originally to be paid in next year's first quarter, to Dec. 31. The construction and mining equipment manufacturer anticipates the move will save shareholders around $30 million. The company's cash dividend has more than tripled since 1998.

Independent Bank Corp. /zigman2/quotes/203876719/composite INDB +4.53% , which owns Rockland Trust Co., will also pull forward its regular quarterly dividend of 21 cents a share to Dec. 31. It typically pays its fourth-quarter dividend in January.

True Religion Apparel Inc. will accelerate its 20-cent-a-share dividend to be paid on Dec. 27 instead of in the first quarter next year. US Ecology Inc. /zigman2/quotes/206007764/composite ECOL -0.14% will also accelerate the payment of its 18-cent-a-share quarterly dividend to that date, while Briggs & Stratton Corp. will pull forward its 12-cent-a-share payment to Dec. 31.

Legg Mason Inc. has accelerated the payment of its 11-cent-a-share quarterly dividend to Dec. 28, which is the same day that MTS Systems Corp. will pay a 30-cent-a-share accelerated dividend.

Meanwhile, Sterling Financial Corp. /zigman2/quotes/214109291/composite STSA -1.93% will issue a special cash dividend of 35 cents a share Dec. 28, and on the same day will pay an accelerated quarterly dividend of 15 cents a share that would otherwise be paid in the first quarter of next year.

Belk Inc. (BLKIA, BLKIB) said it will issue a one-time dividend of 25 cents a share on top of an accelerated regular dividend of 75 cents a share, and both will be paid on or before Dec. 21. The department-store company usually pays dividends in April.

Beasley Broadcast Group Inc. /zigman2/quotes/209319934/composite BBGI -1.03% will pay a special cash dividend of 85 cents a share on Dec. 27.

IPG Photonics Corp.'s /zigman2/quotes/203325788/composite IPGP -1.96% board approved a 65-cent-a-share one-time cash dividend to be paid on Dec. 28, the same day that Heartland Financial USA Inc. /zigman2/quotes/207977439/composite HTLF +0.45% plans to issue a special 10-cent-a-share cash dividend to shareholders.

Concurrent Computer Corp.'s /zigman2/quotes/205428673/composite CCUR -29.82% board declared a special cash dividend of 50 cents a share, to be paid Dec. 31.

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/zigman2/quotes/203434128/composite
US : U.S.: NYSE
$ 214.09
-2.54 -1.17%
Volume: 3.75M
Jan. 21, 2022 4:00p
P/E Ratio
22.88
Dividend Yield
2.07%
Market Cap
$115.81 billion
Rev. per Employee
$497,811
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/zigman2/quotes/203876719/composite
US : U.S.: Nasdaq
$ 83.48
+3.62 +4.53%
Volume: 341,444
Jan. 21, 2022 4:00p
P/E Ratio
22.87
Dividend Yield
2.30%
Market Cap
$3.95 billion
Rev. per Employee
N/A
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/zigman2/quotes/206007764/composite
US : U.S.: Nasdaq
$ 29.05
-0.04 -0.14%
Volume: 411,236
Jan. 21, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$915.43 million
Rev. per Employee
$268,791
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/zigman2/quotes/214109291/composite
US : U.S.: Nasdaq
$ 4.58
-0.09 -1.93%
Volume: 30,863
Jan. 21, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$144.40 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/209319934/composite
US : U.S.: Nasdaq
$ 1.93
-0.02 -1.03%
Volume: 38,334
Jan. 21, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$56.48 million
Rev. per Employee
$210,705
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/zigman2/quotes/203325788/composite
US : U.S.: Nasdaq
$ 147.15
-2.94 -1.96%
Volume: 388,346
Jan. 21, 2022 4:00p
P/E Ratio
30.24
Dividend Yield
N/A
Market Cap
$7.84 billion
Rev. per Employee
$236,472
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/zigman2/quotes/207977439/composite
US : U.S.: Nasdaq
$ 51.13
+0.23 +0.45%
Volume: 141,469
Jan. 21, 2022 4:00p
P/E Ratio
10.52
Dividend Yield
2.11%
Market Cap
$2.16 billion
Rev. per Employee
$354,076
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/zigman2/quotes/205428673/composite
US : U.S.: OTC
$ 6,000.00
-2,550 -29.82%
Volume: 0.00
Dec. 27, 2021 10:33a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$17.68 million
Rev. per Employee
$1.04M
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