B&G Foods Announces Tax Treatment of Common Stock Dividends Paid in 2010
January 21 2011 - 5:52PM
Business Wire
B&G Foods, Inc. (NYSE: BGS) today explained the tax
treatment for dividends paid in 2010 on the Company’s common stock.
Holders are urged to check their 2010 tax statements received from
brokerage firms in order to ensure that the cash distribution
information reported on such statements conforms to the information
reported herein.
Additional information concerning the tax treatment of dividends
paid in 2010 is posted to the Investor Relations section of B&G
Foods’ website, www.bgfoods.com, under the heading “Investor FAQ.”
Holders are also urged to consult their own tax advisors to
determine their individual tax treatment.
In 2010, B&G Foods distributed $0.6800 per share of common
stock (CUSIP # 05508R 10 6). Based on U.S. federal income tax laws,
B&G Foods has determined that of such distributions, 53.6% (or
$0.3648 per share) will be treated as a taxable dividend and 46.4%
(or $0.3152 per share) will be treated as a return of capital.
Generally, the portion of the distribution on the common stock that
is treated as a return of capital should reduce the tax basis in
the shares of common stock up to a holder’s adjusted basis in the
common stock, with any excess treated as capital gains.
The table below summarizes the tax treatment for dividends paid
in 2010 on the Company’s common stock.
Declaration
Record
Payment
Total Per
Share
2010
Taxable
2010 Return
of
Date
Date
Date
Distribution
Dividend
Capital
10/14/2009
12/31/2009 2/1/2010 $0.1700
$0.0912 $0.0788 2/23/2010
3/31/2010 4/30/2010 $0.1700
$0.0912 $0.0788 5/18/2010
6/30/2010 7/30/2010 $0.1700
$0.0912 $0.0788 7/26/2010
9/30/2010 11/1/2010 $0.1700
$0.0912 $0.0788
2010 Totals
$0.6800 $0.3648
$0.3152
About B&G Foods, Inc.
B&G Foods and its subsidiaries manufacture, sell and
distribute a diversified portfolio of high-quality, shelf-stable
foods across the United States, Canada and Puerto Rico. B&G
Foods’ products include hot cereals, fruit spreads, canned meats
and beans, spices, seasonings, marinades, hot sauces, wine vinegar,
maple syrup, molasses, salad dressings, Mexican-style sauces, taco
shells and kits, salsas, pickles, peppers and other specialty food
products. B&G Foods competes in the retail grocery, food
service, specialty, private label, club and mass merchandiser
channels of distribution. Based in Parsippany, New Jersey, B&G
Foods’ products are marketed under many recognized brands,
including Ac’cent, B&G, B&M, Brer Rabbit, Cream of
Rice, Cream of Wheat, Don Pepino, Emeril’s, Grandma’s Molasses,
Joan of Arc, Las Palmas,
Maple Grove Farms of Vermont, Ortega, Polaner,
Red Devil, Regina, Sa-són, Sclafani, Trappey’s, Underwood, Vermont
Maid and Wright’s.
IRS Circular 230 Disclosure
The discussion contained in this press release as to tax matters
is not intended or written to be used, and cannot be used, for the
purpose of avoiding United States federal income tax penalties.
Such discussion is written to support the promotion or marketing of
the transactions or matters addressed in this press release. Each
taxpayer should seek advice based on the taxpayer’s particular
circumstances from an independent tax advisor.
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