Published on 23 Jun 2023 on Insider Monkey via Yahoo Finance

10 Stocks that Paid Special Dividends in 2023

In this article, we discuss 10 stocks that paid special dividends in 2023. You can skip our detailed analysis of special dividend stocks and the history of special dividends, and go directly to read 5 Stocks that Paid Special Dividends in 2023. 

Special dividends are one-time cash payments made by a company to its shareholders, in addition to the regular dividends they may receive. Special dividends are mainly paid when companies generate extra cash from occasional events, such as the sale of assets or a significant increase in profits. Rather than retaining the cash for future investments or acquisitions, the company decides to distribute it to shareholders.

The practice of issuing special dividends has been observed throughout history and is not a recent phenomenon. According to a report by the Journal of Financial Economics, special dividends were once commonly paid by only NYSE companies. During the 1940s, 61.7% of the companies that paid dividends on the NYSE gave out special dividends, compared with 45.8% in the 1950s. Another report by New York University highlighted that in the last quarter of 2012, non-fund companies listed on various stock exchanges announced a significant number of special dividends. Specifically, in October, there were 54 special dividends, compared with 228 and 483 in November and December, respectively.