Washington Post pays 2013 dividends now so investors can avoid tax increases championed by president the paper endorsed
**Written by Doug Powers
In October, the Washington Post backed President Obama for re-election, praising his proposed “balance of entitlement reform and revenue [tax] increases” that could take effect in January of 2013. Obama may well get his way and taxes could soon go up on $250k and up earners (and maybe everybody).
With that in mind, the Washington Post Company can now be added to the list of those who are paying 2013 dividends in 2012 so their investors won’t get nailed by the possible tax increases the paper endorsed as a terrific way for the government to cull additional revenue. Proof positive that no matter what happens in the negotiations, the country is definitely going off the irony cliff:
The media and education company said Friday that its dividend of $9.80 per share is payable Dec. 27 to shareholders of record as of Dec. 17. The payout is instead of regular quarterly dividends next year.
Washington Post is the latest company to move up its quarterly payout or issue a special end-of-year payment to protect investors from potentially having to pay higher taxes on dividend income starting in January.
The business arm of a publishing conglomerate contradicting and rebutting an endorsement from its media arm is not uncommon. In the universe of corporate MSM, the WaPo is serving as another nice example of self-contained point/counterpoint — cause & effect rolled up neatly in one newspaper.
Related story: In September, Costco’s founder said that Obama would be better for business than Romney. This month, Costco borrowed billions to pay out in special dividends to investors before the tax increases Obama wants will more than likely hit next month. Joe Biden recently offered personal thanks for the former.
**Written by Doug Powers
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