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(Reuters) The board of Sirius XM Radio Inc approved a $2 billion common stock repurchase canadian goose jacket program and issued canada goose uk black friday a special dividend my website getcanadagooseoutlet , giving a big payout to its biggest shareholder, Liberty Media.

Liberty Media, which owns about 49.8 percent of Sirius stock buy canada goose jacket cheap and is cheap Canada Goose trying to gain control of the radio company, said it will participate in the company share repurchases in a way that will not affect its ownership interest. canada goose clearance sale satellite radio provider with canada goose uk shop more than 23 million subscribers, declared a special cash dividend of 5 cents per share of common stock, payable on December 28 to shareholders uk canada goose outlet as of December 18. The company expects to pay out about $325 million canada goose coats in total for the dividend.

Based on its stake, Liberty will be paid roughly $160 million from the special dividend, according to Macquarie analyst Amy Yong, who expects the buyback to be implemented in 2013.

Yong estimated Liberty spent about $1.6 billion canada goose factory sale in recent months to raise its Sirius XM stake from 40 percent.

The company had Canada Goose Jackets $556.27 million in cash and cash equivalents for the quarter ended September 30. It announced on Wednesday that it entered into a new $1.25 billion revolving credit facility, which should provide financial flexibility for the dividend payout, according to ISI analyst David Joyce.

The investment firm ISI expects Sirius to have of Canada Goose online cushion for its dividend, estimating the company will end the year with about $480 million in cash.

Sirius did not reveal canada goose coats on sale the timing of the buyback, which had been expected by analysts and investors. It said the timing and amount of shares repurchased would be based on the of market canada goose conditions.

SPURRED BY buy canada goose jacket THE CLIFF ISI said in a research note that the moves were earlier than expected and that the buyback was uk canada goose bigger than the $1.3 billion it expected. The note cheap canada goose uk went on to call the special dividend modest surprise that is line with other companies fiscal cliff related pre tax Canada Goose Parka hike moves.

More than a canada goose uk outlet dozen other companies, including Wal Mart Stores Inc, have moved 2013 dividend payments into December or declared special December dividends.

Without action from Congress in coming weeks, tax canada goose black friday sale cuts on capital gains and dividends will expire at the end of 2012. The accelerated dividend payments allow shareholders canada goose clearance to avoid higher tax rates in 2013, which could double for the wealthiest investors.

It wasn that long ago that Sirius was badly strapped for cash and turned to John Malone Liberty Media for funds.

Liberty acquired a roughly 40 percent stake in the satellite radio company in 2009 as part of a deal in which it loaned Sirius $530 million to help Canada Goose Outlet it stave Canada Goose Online off bankruptcy.

Sirius, home of the popular shock jock Howard Stern, has been locked in a battle for control with Liberty for most of 2012.

Its CEO Mel Karmazin has said he will be stepping down in February 2013, also a long anticipated move since Karmazin is canada goose store famous for not wanting to work with controlling shareholders.

Sirius XM shares rose 6 cents or 2.3 percent to $2.84 while Liberty Media shares rose $1.21 or 1.1 percent to $107.62.

Additional reporting by Jennifer Saba in New York and Chandni Doulatramani in Bangalore; Editing by Peter Lauria, Joyjeet Das, Nick Zieminski and Canada Goose sale Dale Hudson Canada Goose Coats On Sale.