Word: dividenders
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...still wet on president Bush's stock-dividend tax-rate cut in early June when Corus Bankshares in Chicago voted to triple its annual payout. CEO Robert Glickman said the move was "solely in reaction" to the new tax treatment and that he was "very pleased" to provide shareholders with a beefy new payment. Little wonder. The Glickman family owns half the company, and his 25% stake in the bank will generate $5.8 million in annual after-tax income, up from $1.3 million...
Banking giant Citigroup, for example, just raised its annual dividend 75% to $1.40--very timely for CEO Sandy Weill, who is retiring from that role at the end of the year but is staying on as chairman. With a net worth of $1 billion, it's not as if Weill needs the money. Still, his 22 million Citi shares will spin off $27 million a year in after-tax income, up from $11 million. "That income stream only comes because I've taken the risk along with the other shareholders in this company," Weill told Time...
...right, of course. There's nothing illegal here, nor is there anything to suggest that Bush had corporate chiefs and not economic stimulus in mind when the bill was passed. Shareholder groups applaud bigger dividends. Unlike stock options, restricted shares, annual bonuses, forgivable loans and free trips on company yachts and jets for executives, dividends directly benefit all who own the stock. Still, a controlling family like the Glickmans will enjoy an income boost without having to sell a single share and dilute their control. The family's prodigious raise was "part of the equation" when the dividend-increase decision...
...houses. Still others have used creative marketing to pull themselves back from the brink. The million-liter-per-year, 180-year-old Härle Brewery in Königseggwald went public this year and offered five cases of their flagship Walder Bräu as an annual recurring dividend. The strategy brought in €800,000 - which was enough to both keep the company afloat and lock locals into a uniquely German type of loyalty program. Another brewer, Iserlohner Pilsner, launched a "Save Iserlohner" campaign geared toward the villagers of its namesake town. Production rose enough to entice local...
...alternative to money-market funds. Keep a mix of CDs that come due in three, six, 12 and 18 months. You can get 2% on a three-year CD, but you'll run the risk of locking in a historically low yield just as yields--and total returns on dividend-paying stocks--start to rise...