Hi , I am the holder of about 120 shares in The New German fund and the
following offer has been made to the holders.
CUSIP # 644465106 R/D 12/31/13 P/D 01/31/14 Rate: $4.481 per share
THESE OPTIONS ARE SUBJECT TO PRO-RATA
The New Germany Fund, Inc. has declared a total distribution of $4.481 per share which is comprised of an Ordinary Income dividend of $ 0.3280, Short Term Capital Gain dividend of $0.8038 and Long Term Capital Gain of $3.3492, payable on 01/31/14 to shareholders of record at the close of business on 12/31/13. The distribution will be paid in the Fund’s common stock with an option to receive cash.
Option #1- Stock: Shareholders may elect to receive the distribution in additional common shares of The New Germany Fund, Inc. at a rate of $4.481 per share. Fractions will be paid in cash. (Default)
Option #2 (Cash): Shareholders may elect to receive cash at $4.481 per common share.
Does anyone have any idea as to how the options outlined would be treated for Tax purposes by the Revenue here. Will it be regardsd as CGT or Income
tax?
Any opinions are very welcome.
Thanks
Mask
following offer has been made to the holders.
CUSIP # 644465106 R/D 12/31/13 P/D 01/31/14 Rate: $4.481 per share
THESE OPTIONS ARE SUBJECT TO PRO-RATA
The New Germany Fund, Inc. has declared a total distribution of $4.481 per share which is comprised of an Ordinary Income dividend of $ 0.3280, Short Term Capital Gain dividend of $0.8038 and Long Term Capital Gain of $3.3492, payable on 01/31/14 to shareholders of record at the close of business on 12/31/13. The distribution will be paid in the Fund’s common stock with an option to receive cash.
Option #1- Stock: Shareholders may elect to receive the distribution in additional common shares of The New Germany Fund, Inc. at a rate of $4.481 per share. Fractions will be paid in cash. (Default)
Option #2 (Cash): Shareholders may elect to receive cash at $4.481 per common share.
Does anyone have any idea as to how the options outlined would be treated for Tax purposes by the Revenue here. Will it be regardsd as CGT or Income
tax?
Any opinions are very welcome.
Thanks
Mask