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Tootsie Roll (TR) Stock Distribution
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Tootsie Roll Industries (TR) had a recent stock distribution. Information on the nature of this distribution has been hard to find. The TR website does not mention it at all. After some digging I found this is a 3% stock dividend. At some time in the past the TR board approved this to be an annual event. If you or your club still own TR at this time next year, expect the same 3% stock dividend.
Most such stock dividends as tax-free. Information on this dividend is scant but I will assume this one is also tax-free until evidence to the contrary is found. The payout date is also a bit fuzzy. Using information from an ICLUBcentral customer the payout date looks to be April 26, 2019. When entering the transaction into your records I suggest using the date on your broker statement.
To enter this distribution into Club Accounting 3 or Myiclub.com I would use the stock split transaction with the following information:
Date: Use the date on your broker statement
Company: Tootsie Roll (TR)
Split Ratio: 1.03 for 1
Cash Received: Use the amount listed on your broker statement.
Russell Malley
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Tootsie Roll (TR) Stock Distribution
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