November 29, 2012 / 8:31 PM / 5 years ago

UPDATE 2-Fluor brings forward dividend payment into 2012

Nov 29 (Reuters) - U.S. engineering company Fluor Corp said on Thursday it moved forward the payment of its dividend by eight days to get it into 2012, joining a number of companies doing the same because of uncertainty about the U.S. government’s fiscal plans.

About $600 billion of automatic tax increases and spending cuts are scheduled to come into effect early next year, which could include higher rates for dividends. So some companies, including Costco and Wal-Mart, have either moved up scheduled payments or declared special dividends.

Fluor said its quarterly dividend of 16 cents per share, which had been payable on Jan. 3, 2013, would now be paid on Dec. 26, 2012, instead. The board approved the change on Wednesday, according to a filing by the company with U.S. securities regulators on Thursday.

A spokesman for the Irving, Texas-based company described the move as a “one-time change,” adding: “We will resume our normal schedule for 2013.”

Fluor’s stock was up 25 cents, or 0.5 percent, at $53.46 on Thursday afternoon.

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