Bloomberg News

Dolby Advances After Announcing Special Dividend

December 12, 2012

Dolby Laboratories Inc. (DLB:US) closed at the highest price in almost three months after the sound and video pioneer announced a special dividend.

The stock gained (DLB:US) 2.4 percent to $35 in New York, for the highest price since Sept. 19. The San Francisco-based company has advanced 15 percent this year.

Dolby joins companies from Oracle Corp. to Dish Network Corp. (DISH:US) awarding special payouts or accelerating dividend payments ahead of anticipated tax increases next year. Dolby will pay shareholders $4 a share on Dec. 27 to stockholders of record as of Dec. 21, according to a statement yesterday.

The company will spend about $408 million on the payout, according to the statement.

To contact the reporter on this story: Niamh Ring in New York at nring@bloomberg.net

To contact the editor responsible for this story: Kevin Miller at kmiller@bloomberg.net


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Companies Mentioned

  • DLB
    (Dolby Laboratories Inc)
    • $46.58 USD
    • 0.05
    • 0.11%
  • DISH
    (DISH Network Corp)
    • $64.81 USD
    • 0.08
    • 0.12%
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