Otto Energy (ASX:OEL) received a draft Australian Taxation Office (ATO) class ruling confirming that a portion of its capital return of up to AU$40 million, or AU$0.008 per share, expected to take effect on May 27, will be treated as a dividend to certain shareholders covered by the class ruling, according to a Monday with the Australian bourse.
The company urged shareholders to review the ruling and seek independent tax advice, the filing said.
The formal class ruling from ATO is expected to be released after the payment date for the capital return, which is anticipated for June 16, with a record date of May 30.
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