9 New Special Dividends Announced Last Week

special dividends

Special dividends - separate one-time payouts in addition to a company's regular (if any) dividend - are on the rise. Special dividend payment amounts jumped 49% from January through September 2014, according to the latest available data from S&P Dow Jones Indexes.

Special dividends are typically larger than normal dividend payouts. Companies usually declare them after an especially strong quarter or year, or when their cash reserve grows significantly.

Strong profits and large cash reserves have spurred these payouts. S&P 500 companies are collectively sitting on some $2 trillion in cash.

Nine companies announced special dividends during the week ending Feb. 6, including Costco Wholesale Corp. (Nasdaq: COST) and Stein Mart Inc. (Nasdaq: SMRT).

Here's the full list:

New Special Dividends: COST, SMRT, and More

Costco Wholesale Corp. (Nasdaq: COST) announced a special $5-per-share cash dividend payable Feb. 27 to shareholders of record Feb. 9. The payment of $2.2 billion will be funded through existing cash and additional borrowing. Costco is the second-largest retailer in the United States, third largest in the world, and largest membership warehouse club chain in America. The payout is its latest step in returning capital to shareholders. Costco paid a similar extra dividend in 2012. The company pays a regular quarterly dividend of $0.95 for a 5% yield. Shares are up 8.38% year to date.

Stein Mart Inc. (Nasdaq: SMRT) declared a special $5-per-share cash dividend payable Feb. 27 to shareholders of record Feb. 13. The Jacksonville, Fla.-based apparel retailer will pay the extra dividend with new credit facilities and cash on hand. Stein Mart, 268 stores strong, has consistently posted monthly increases in same-store sales. Sale rose 5.8% in December. Stein Mart pays a regular quarterly dividend of $0.08 for a yield just shy of 2%. Shares are up 6% year to date.

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AMERCO (Nasdaq: UHAL) announced a special $1-per-share cash dividend payable March 17 to shareholders of record March 6. AMERCO is the parent company of U-Haul International Inc., Oxford Life Insurance Company, Repwest Insurance Company, and Amerco Real Estate Company. Since 1945, U-Haul has been the choice for the do-it-yourself mover. Shares are up 11.84% year to date.

Lazard Ltd. (NYSE: LAZ) declared a special $1-per-share cash dividend payable Feb. 19 to shareholders of record Feb. 13. Lazard is one of the world's preeminent financial advisory and asset management firms. It operates from 43 cities across 27 countries in North America, Europe, Asia, Australia, and Central and South America. Lazard's roots date back to 1848. The company pays a regular quarterly dividend of $0.30 per share for a 2.36% yield. Shares are up 1.56% year to date.

Artisan Partners Asset Management Inc. (NYSE: APAM) announced a special $0.95-per-share cash dividend payable Feb. 27 to shareholders of record Feb. 13. The investment company also boosted its regular quarterly payout a nickel to $0.60 a share for a 5% yield. The Milwaukee-based company cited strong 2014 results across all business segments for the sweetened dividend and extra payout. Shares are off 5.2% year to date.

Itau Unibanco Holding SA (NYSE ADR: ITUB) declared a pair of special payouts. The first one for $0.20 per share will be paid March 9 to shareholders of record Feb. 13. The second one for $0.11 per share will be paid on March 10 to shareholders of record Feb. 13. Based in Brazil, Itau Unibanco provides financial products and services to international individuals and corporate clients. Shares are off 4% year to date.

Marine Harvest ASA (NYSE: MHG) announced a special $0.16-per-share cash dividend payable March 3 to shareholders of record Feb. 19. Headquartered in Norway, MHG is a seafood company that produces and sells farmed salmon products worldwide. It is engaged in the fish farming, processing, and smoking industries. Shares are off 5.42% year to date.

Rock-Tenn Co. (NYSE: RKT) declared a special $0.13-per-share cash dividend payable Feb. 23 to shareholders of record Feb. 10. The extra dividend equalizes the total dividend between Rock-Tenn and MeadWestvaco Corp., as outlined in the Business Combination Agreement. On Jan. 25, Rock-Tenn agreed to acquire rival MeadWestvaco in a deal valued at about $9.2 billion. The merger creates the world's second-largest packaging company.

More on Dividend Investing: In addition to special dividends, 76 companies boosted their regular dividend payouts last week. Here are 30 of the most notable recent hikes...