Legg Mason accelerates dividend payment

Credit RatingsLegg Mason, Inc.U.S. Congress

Legg Mason Inc. announced Wednesday that it would accelerate a quarterly dividend that was to be paid out in January. The cash dividend of 11 cents per share will be paid out on Dec. 28, instead of Jan. 7. The Baltimore-based investment company becomes the latest to rush to make dividend payments before the end of the year, while the tax rate on this income is still 15 percent. Unless a deal is reached between Congress and the White House, dividend income next year will once more be taxed as regular income, which could be as high as 39.6 percent.

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