NorthWestern Corporation Reports Change in Tax Status of Dividends Paid in 2009
SIOUX FALLS, S.D., March 24 /PRNewswire-FirstCall/ — NorthWestern Corporation d/b/a NorthWestern Energy (NYSE: NWE) today announced that a portion of its dividends paid in 2009 are to be treated as a return of capital for federal income tax purposes due to an IRS-approved change to the company’s tax accounting methods related to costs associated with repairing and maintaining utility assets. During 2009, NorthWestern paid dividends of $1.34 per common share, and of that total, $0.563936 per share is fully taxable (reported in Box 1 on Form 1099-DIV) and $0.776064 per share is return of capital (reported in Box 3 on Form 1099-DIV). Corrected 1099DIVs will be issued to reflect the change. State income taxation may vary depending upon the state of residence. Please consult your tax advisor for the appropriate tax return treatment.
About NorthWestern Energy
NorthWestern Energy is one of the largest providers of electricity and natural gas in the Upper Midwest and Northwest, serving approximately 661,000 customers in Montana, South Dakota and Nebraska. For more information about NorthWestern Energy, visit our Web site at www.northwesternenergy.com.
SOURCE NorthWestern Corporation