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Limited Brands Declares $3-Per-Share Special Dividend

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.

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