Science & Technology
Mon, January 31, 2011Sun, January 30, 2011Fri, January 28, 2011Thu, January 27, 2011Wed, January 26, 2011Tue, January 25, 2011Mon, January 24, 2011Fri, January 21, 2011Thu, January 20, 2011Wed, January 19, 2011Tue, January 18, 2011Mon, January 17, 2011Fri, January 14, 2011Thu, January 13, 2011Wed, January 12, 2011Tue, January 11, 2011Mon, January 10, 2011Qwest Announces Tax Treatment for 2010 Dividends
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Published in Science and Technology on Friday, January 21st 2011 at 8:15 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
DENVER--([ BUSINESS WIRE ])--Qwest Communications International Inc. (NYSE: Q) today announced the expected tax treatment for its 2010 dividends. During 2010, Qwest paid quarterly dividends on its common stock that amounted to $0.32 per share. For United States federal income tax-reporting purposes, the company will report the 2010 dividends as non-taxable distributions.
Non-taxable distributions are generally treated as a return of capital to the extent of a shareholdera™s basis in his or her shares. Accordingly, these non-taxable distributions reduce that tax basis. Once a shareholdera™s basis is reduced to zero, non-taxable distributions generally will be taxed as capital gains.
While the above information includes general statements about the tax classification of dividends paid on Qwest common stock, these statements do not constitute tax advice. The taxation of corporate distributions can be complex, and stockholders are encouraged to consult their tax advisers to determine what impact the above information may have on their specific tax situation.
About Qwest
Customers coast to coast turn to Qwesta™s industry-leading national fiber-optic network and world-class customer service to meet their communications and entertainment needs. For residential customers, [ Qwest ] offers a new generation of [ fiber-optic-fast Internet ] service, [ high-speed internet ] solutions, as well as [ home phone ], [ Verizon Wireless ], and [ DIRECTV® ] services. Fortune 500 companies and other [ large businesses ] and [ wholesale customers ], as well as [ small businesses ] and [ governmental agencies ], choose Qwest to deliver a full suite of network, data and voice services. Additionally, Qwest participates in [ Networx ], the largest communications services contract in the world and is recognized as a [ leader ] in the network services market by leading technology industry analyst firms.
The marks that comprise the Qwest logo are registered trademarks of Qwest Communications International Inc. in the U.S. and certain other countries.
