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Limited Brands Announces a Special Dividend

Adam Jeffery | CNBC

Limited Brands, the parent company of Victoria's Secret, announced plans on Monday to issue a special dividend of $3 per share.

After the news, shares ticked higher in after-hours trade. (Click here to get the latest quotes for Limited Brands shares.)

The move follows similar one-time dividends by hundreds of companies to take advantage of current dividend tax rates before Jan. 1, when they could rise as part of a resolution to the looming "fiscal cliff."

Limited Brands' special dividend will be paid on Dec. 26 to shareholders of record at the close of business on Dec. 20.