Regal Votes Special Payout Before Bush Tax Cuts Lapse
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Regal Entertainment Group, the largest U.S. cinema operator, declared an extraordinary dividend of $1.40 a share payable Dec. 30, the day before Bush-era tax cuts are set to expire.
The one-time dividend will cost about $215 million, David Ownby, chief financial officer, said today in an interview. The company’s largest shareholder, billionaire Philip Anschutz, stands to collect more than $100 million based on his controlling stake in the company.