Saks makes preliminary determination regarding special cash dividend
18 Jan '07
1 min read
Saks Incorporated announced that it has made a preliminary determination that the $4 per share special cash dividend paid on November 30, 2006 will result in a $1.00 per share return of capital to shareholders, with $3.00 per share being taxable to shareholders at the dividend tax rate.
The exact amount of the return of capital is dependent on the earnings of the Company through the end of its fiscal year ending February 3, 2007 and is subject to confirmation through the completion of a formal evaluation process which is expected to take several additional months.
Once a final determination is made, the Company will make appropriate public disclosure. Shareholders are encouraged to consult with their financial advisors regarding the circumstances of their individual tax situations.
Saks Incorporated currently operates Saks Fifth Avenue, which consists of 54 Saks Fifth Avenue stores, 50 Saks Off 5th stores, and saks.com. The Company also operates 62 Club Libby Lu specialty stores.
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