Don't let it get away!
Keep track of the stocks that matter to you.
Help yourself with the Fool's FREE and easy new watchlist service today.
The list of companies announcing special, pre-fiscal cliff dividend payouts just got a little bit longer. On Monday after the close of trading, Limited Brands (NYSE: LB ) announced that on Dec. 26, it will pay a special dividend of $3 per share to shareholders of record as of close of business Dec. 20.
With 288.4 million shares outstanding, the special dividend will cost Limited approximately $865 million, which is more than the $547 million in cash the company had on hand at last report. Limited did not explain how it will raise cash to pay for the difference.
Shares declined 1% in Monday trading, before the special dividend was announced.