NACCO Industries’ spinoff of Hamilton Beach continues, as the former has declared a stock dividend of one share of Hamilton Beach Class A and Class B stock for each share of NACCO Class A or Class B stock.
According to NACCO, the distribution has been structured to qualify as a tax-free dividend to company shareholders for U.S. federal income tax purposes.
In addition, Hamilton Beach has filed an application to list its Class A common stock on the New York Stock Exchange under the trading symbol “HBB.” Hamilton Beach Holding Class B common stock will not be listed on the New York Stock Exchange and each share is convertible into one share of Hamilton Beach Holding Class A common stock at any time without cost at the option of the holder.
