Why did I get shares of Manitowoc Foodservice common stock?

The Board of Directors of The Manitowoc Company, Inc., decided to spin off Manitowoc Foodservice, Inc., to its shareholders. In the Spin-Off, The Manitowoc Company distributed to its shareholders all of the shares of Manitowoc Foodservice common stock. The Manitowoc Company has not retained any Manitowoc Foodservice shares.

back to top

What did I receive in the Spin-Off?

As a holder of The Manitowoc Company, Inc. (NYSE: MTW) common stock, you received one share of Manitowoc Foodservice, Inc. (NYSE: MFS) common stock on March 4, 2016 for every one share of Manitowoc Company common stock you held. The distribution agent distributed only whole shares of our common stock in the Spin-Off. To the extent fractional shares existed, they were converted to cash and the cash was distributed to shareholders.

back to top

What did I have to do to participate in the Distribution?

You were not required to take any action in connection with the Spin-Off.

back to top

Will the company pay a cash dividend and have a dividend reinvestment plan?

The timing, declaration, amount of, and payment of any dividends by Manitowoc Foodservice following the Spin-Off is within the discretion of our Board of Directors. Currently, our Board does not plan to pay a dividend in 2016.

The company does have a Direct Stock Purchase Plan and a Dividend Reinvestment Plan. Please contact the company’s transfer agent, Computershare, for more information about these programs.

back to top

How many shares does the company have outstanding?

There were approximately 137 million shares outstanding of Manitowoc Foodservice common stock immediately after the Spin-Off.

back to top

What is the company’s stock ticker symbol?

Manitowoc Foodservice common stock is listed on the New York Stock Exchange under the symbol “MFS.”

back to top

What will be the cost basis for my Manitowoc Foodservice common stock?

For U.S. federal income tax purposes, your aggregate basis in the common stock that you hold in The Manitowoc Company and the new Manitowoc Foodservice common stock received in the Distribution (including any fractional share interest in Manitowoc Foodservice common stock for which cash was received) equals the aggregate basis in the shares of The Manitowoc Company common stock held by you immediately before the Distribution, allocated between your shares of The Manitowoc Company common stock and the Manitowoc Foodservice common stock (including any fractional share interest in Manitowoc Foodservice common stock for which cash was received) you received in the Distribution in proportion to the relative fair market value of each on the Distribution Date. Please refer to IRS Form 8937 – Information for Shareholders regarding Stock Distribution by clicking here.

Please consult your tax advisor about the particular consequences of the Distribution to you, including the application of the tax basis allocation rules and the application of state, local and foreign tax laws.

back to top

Where is the company’s headquarters located?

The headquarters of Manitowoc Foodservice is located at:
2227 Welbilt Blvd.
New Port Richey, FL 34655

back to top

What firm is the transfer agent for the company’s stock?

Computershare serves transfer agent and registrar for our common stock. If you have any questions relating to the mechanics of the Distribution, please contact the distribution agent at:
Computershare Trust Company, N.A.
211 Quality Circle, Suite 210
College Station, TX 77842
(877) 498-8861

back to top

2227 Welbilt Blvd.
New Port Richey, FL

Toll Free: 877-375-9300

Phone: 727-375-7010

Fax: 727-375-0472

Latest News



    Subscribe to our Investor Email Alerts to receive notifications via email.