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Lazard to pay special quarterly dividend, accelerate payment
December 11, 2012 / 9:45 PM / 5 years ago

Lazard to pay special quarterly dividend, accelerate payment

Dec 11 (Reuters) - Lazard Ltd said on Tuesday that it will pay a special dividend to common shareholders and accelerate the payment of its ordinary dividend.

The investment bank will pay shareholders an extra 20 cents per share during the fourth quarter, in addition to its existing quarterly dividend of the same amount.

The regular dividend payment will be accelerated so that common shareholders as of Dec. 21 will receive a total payment of 40 cents per share on Dec. 27.

A number of U.S. companies have moved 2013 dividend payments into December or declared special December dividends. Without action from Congress before the end of the year, the tax rates on dividends and capital gains are due to rise in 2013.

Lazard shares closed up 1.1 perecent at $30.78 on Tuesday, up nearly 18 percent year-to-date.

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