The first half of 2023 was exciting for investors, as a new bull market was born and tech stocks went on a tear. Even supposedly staid dividends got a little spicier, as 36 firms in the broad-market S&P 1500 index paid out special dividends – extra, one-time payments on top of their regular dividend payouts – from January through June, according to S&P Global Market Intelligence. That's the highest rate in at least six years.
Redistributing windfall cash via special dividends is a fairly common practice among energy and commodity companies. This year, investors also received extra payouts from firms including Ford (F), Host Hotels & Resorts (HST) and truck maker Paccar (PCAR). And more bonuses are likely coming. Costco Wholesale (COST) has been building up cash and is expected by many analysts to soon distribute much of that to shareholders, for example.
