American Software Announces Tax Treatment of 2023 Distributions
2024年1月23日 - 4:34AM
ビジネスワイヤ(英語)
American Software, Inc. (NASDAQ: AMSWA) has determined that
certain 2023 distributions are considered to be return of capital
(non-dividend) distributions.
This tax treatment will affect shareholders’ tax basis in their
shares. To assist investors with tax reporting, Form 8937, Report
of Organizational Actions Affecting Basis of Securities has been
posted on the Investor section of the Company’s website under
“Investor Relations.”
Shareholders should consult their tax advisors to determine how
this change may affect their 2023 taxes.
About American Software, Inc.
Atlanta-based American Software, Inc. (NASDAQ: AMSWA),
through its operating entity Logility delivers an innovative
AI-powered platform that enables enterprises to accelerate their
digital supply chain transformation from product concept to client
availability via the Logility® Digital Supply Chain Platform, a
single platform spanning Product, Demand, Inventory, Supply,
Sourcing, Deploy, Corporate Responsibility Environment, Social and
Governance (ESG) and Network Optimization aligned with Integrated
Business Planning.
Serving clients such as Big Lots, Bunzl Australasia, Carter’s,
Destination XL, Glen Raven, Hostess, Husqvarna Group, Jockey
International, Johnson Controls, Parker Hannifin, Red Wing Shoe
Company, Spanx and Taylor Farms; our solutions are marketed and
sold through a direct sales team as well as an indirect global
value-added reseller (“VAR”) distribution network.
Fueled by supply chain master data, allowing for the automation
of critical business processes through the application of
artificial intelligence and machine learning algorithms to a
variety of internal and external data streams, the comprehensive
Logility portfolio delivered in the cloud includes advanced
analytics, supply chain visibility, demand, inventory and
replenishment planning, Sales and Operations Planning (S&OP),
Integrated Business Planning (IBP), supply and inventory
optimization, manufacturing planning and scheduling, network design
and optimization (NDO), retail merchandise and assortment planning
and allocation, product lifecycle management (PLM), sourcing
management, vendor quality and compliance, and product
traceability. For more information about Logility, please visit
www.logility.com. Logility is a wholly-owned subsidiary and
operating entity for American Software, Inc.. You can learn more
about American Software at www.amsoftware.com, or by calling (404)
364-7615 or emailing kliu@amsoftware.com.
Logility® is a registered trademark of Logility, Inc. Other
products mentioned in this document are registered, trademarked or
service marked by their respective owners.
AMERICAN SOFTWARE, INC. FORM 8937
ATTACHMENT 1 WITH RESPECT TO RETURN OF CAPITAL
DISTRIBUTIONS
Part II, Box 14
American Software, Inc. declared and paid cash dividends to
shareholders of record on the dates shown below. Each of these
dividends constituted a return of capital for U.S. Federal Income
Tax purposes.
Nondividend distributions made to holders of American Software,
Inc. Common Stock (Ticker Symbol: AMSWA, CUSIP: 029683109) were as
follows:
Record Date
Payable Date
Distribution Rate per
Share
Return of Capital % of
Distribution
2/3/2023
2/17/2023
$0.11
0%
5/3/2023
5/17/2023
$0.11
0%
8/11/2023
8/25/2023
$0.11
0%
11/17/2023
12/1/2023
$0.11
66.6713%
Part II, Box 15
Each shareholder that received a dividend with respect to a
share held on the Record Date must reduce its tax basis in that
share by the percentage reflected of the amount of the dividend
recorded that was a return of capital. To the extent that the
dividends received exceed a shareholder’s tax basis in the share,
the excess will constitute a taxable gain. Shareholders should
consult their tax advisors with respect to the U.S. Federal Income
Tax treatment of any such gain as the tax treatment of the gain
will depend on the shareholder’s individual tax circumstances.
Part II, Box 16
Please see Part II, Box 15 above for a general description of a
shareholder’s change in basis calculation. The amount of the basis
reduction described will be measured by the amount of cash
distributions received.
Part II, Box 17
Tax consequences are determined under Sections 301(c) and 1001
of the Code.
Part II, Box 18
No tax loss will arise from the receipt of these cash
distributions.
Part II, Box 19
Adjustments to the tax basis of stock (and of any taxable gain)
resulting from these cash distributions are reportable in the tax
period in which each distribution was received. For calendar year
taxpayers, the reportable tax year for the aggregate distributions
received is 2023.
Individual tax consequences may vary. Shareholders are urged
to consult their own tax advisors. The information contained herein
does not constitute tax advice. It is not intended or written to be
used, and cannot be used, for the purpose of avoiding tax
penalties.
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version on businesswire.com: https://www.businesswire.com/news/home/20240122620393/en/
Vince C. Klinges Chief Financial Officer American Software, Inc
(404) 264-5477
American Software (NASDAQ:AMSWA)
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