RPM International Inc. said Friday that it's moving up payment of its quarterly dividend to December from January, the latest company to act to shield shareholders from potential tax increases next year.
The Medina, Ohio, company, whose products include building materials, coatings such as Rust-Oleum, and chemicals, will now pay the 22.5-cent dividend on Dec. 28. The next payout will be in April.
Many companies have been moving their quarterly payouts from early 2013 to December, or issuing special end-of-year payments.
Since 2003 investors have paid a maximum 15 percent on dividend income. But that historically low rate will expire in January, rising to as much as 43.4 percent for the highest earners next year, unless Congress and President Barack Obama reach a compromise on taxes and government spending. As it stands before the "fiscal cliff," dividends are slated to be taxed as ordinary income, so rates will depend on the taxpayers' income bracket.
