Metal firms declaring early dividends to avoid tax raise

Dec 11, 2012 | 04:15 PM | Corinna Petry

Tags  dividends, Worthington Industries, Insteel Industries, H.O. Woltz III, Five Star Equities, Paccar, Chicago Board Options Exchange, tax rates corinna petry

CHICAGO — A steel wire manufacturer and a steel processor have each moved up dividend payments, part of a trend among publicly held companies to allow shareholders to avoid a possible tax increase next year, according to an equities research firm.

The board of directors of steel processor, distributor and diversified manufacturer Worthington Industries Inc. has declared an accelerated third- and fourth-quarter cash dividend totaling 26 cents per common share. The dividend, payable Dec. 28 to shareholders of record Dec. 21, is in addition to the dividend announced Sept. 26 by the Columbus, Ohio-based company.....

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