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common stockholders is $250 million, and the agreement
provides for the proration of cash in the event that
GSU stockholders elect, in the aggregate, to receive
more cash than the $250 million.
* * * * * * *
Each of the shares of GSU preferred stock outstanding
at closing will continue as outstanding stock of GSU.
Each share of Entergy common stock will be converted
into the right to receive one share of new holding
company common stock.
Cash Distributions From Centerior Energy
Corporation and Portland General Corporation
During 1993, Mr. Hawthorne owned shares of common stock of
Centerior Energy Corporation (Centerior Energy). During that
year, Centerior Energy paid Mr. Hawthorne $1,440 with respect to
those shares, $830.09 of which it reported as "Ordinary divi-
dends" in Form 1099-DIV CORRECTED for 1993 and $609.91 of which
it reported in that form as "Nontaxable distributions". Mr.
Hawthorne received Form 1099-DIV CORRECTED for 1993 after peti-
tioners filed their 1993 return.
During 1993, Mr. Hawthorne owned shares of common stock of
Portland General Corporation (Portland General). During that
year, Portland General paid Mr. Hawthorne $240 with respect to
those shares, all of which it reported as "NON-TAXABLE DISTRIBU-
TIONS" in a corrected copy of Form 1099-DIV for 1993.
Petitioners reported as dividend income in their 1993 return
the entire respective amounts of $1,440 and $240 that Mr. Haw-
thorne received from Centerior Energy and Portland General during
1993.
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Last modified: May 25, 2011