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Each IDS unit was comprised of one share of common stock and a subordinated note. In 2008, the company paid out a total of approximately $0.33 per unit (January through May 2008) as a distribution on the common stock component of the IDS and a total of approximately $0.71 per unit in interest income (January through November 2008.) The company eliminated the dividend on its common stock after the payment of the May 2008 dividend and deferred interest on the subordinated notes after the November 20, 2008 payment. The company expects that, based on U.S. federal income tax laws, the 2008 distributions on the common stock should be treated as a return of capital or capital gain.
Please consult your tax advisor if you have questions about proper tax treatment of amounts reported on Form 1099.
IRS Circular 230 Notice
To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained herein is not intended or written to be used, and cannot be used by any taxpayer, for the purpose of avoiding U.S. tax penalties.
For more information contact: Gael Doar Director of Communications 203-975-5941 gael.doar@centerplate.com
Centerplate, Inc., with its principal executive office in Stamford, CT, is a leading provider of food and related services including concessions, catering, and merchandise services in approximately 130 sports facilities, convention centers and other entertainment venues throughout the United States and Canada. Visit the company online at www.centerplate.com.
SOURCE Centerplate, Inc.
http://www.centerplate.com
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The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
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