Over the past week, the following companies made important announcements regarding their future dividend payments…

Special Dividends and Dividend Announcements

  • Diamond Hill Investment Group (DHIL) declared a special dividend of $8.00 per share. The company estimates that between $4.75 and $5.25 of the special dividend will be characterized as qualified dividend income, with the balance characterized as return of capital. The company expects to finalize the tax characterization of the dividend in late January 2013.
  • Acadia Realty Trust (AKR) announced a revision to its previously announced cash dividend for the quarter ending December 31 of $.18 per share. The payment date has been revised to January 15, 2013 from February 1, 2013 to holders of record as of December 31.
  • New Mountain Finance Corporation (NMFC) has declared a special dividend of $.14 per share, which will be payable on January 31, 2013 to stockholders of record as of December 31, 2012. This dividend is intended to minimize to the greatest extent possible the company’s federal income or excise tax liability.

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  • Sunrise Senior Living (SRZ) announced that in connection with the proposed merger with Health Care REIT (HCN) a special cash dividend of $2.10 per share of Sunrise common stock to holders of Sunrise common stock as of the close of business on January 8. The special cash dividend does not change the overall amount of consideration of $14.50 in cash per share being provided to Sunrise stockholders in connection with the transactions. Sunrise stockholders will receive $12.40 in cash per share as merger consideration and $2.10 in cash per share as a special dividend, for a total of $14.50 in cash per share. The dividend will be paid concurrently with the payment of the merger, and if the Sunrise stockholders approve the merger at the special meeting being held on January 7, 2013, Sunrise currently expects that the merger will close prior to market open on January 9, 2013.
  • The GEO Group (GEO) announced special dividend of $352,206,508, or $5.68 per share of common stock, which will be paid on December 31 to shareholders of record as of December 12.
  • National Health Investors (NHI) announced that it will pay a special dividend of $.22 per common share to shareholders of record on January 10, 2013, and payable on January 31, 2013.

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