UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 7.01. | REGULATION FD DISCLOSURE. |
The following information, including Exhibit 99.1, is being furnished, not filed, pursuant to Item 7.01—Regulation FD Disclosure of Form 8-K.
On January 11, 2024, MBIA Inc. (the “Company”) posted IRS Form 8937 “Report of Organizational Actions Affecting Basis of Securities” on its website, www.mbia.com, under the section “Investor Relations – Financial Information” @ https://investor.mbia.com/files/doc_downloads/2024/01/Form-8937.pdf. The Company’s IRS Form 8937 provides an explanation of the tax consequences to shareholders with respect to the Company’s treatment of the extraordinary cash dividend of $8.00 per share paid on December 22, 2023 to shareholders of record as of December 18, 2023. The Company’s IRS Form 8937 indicates that the extraordinary cash dividend is expected to be treated as a tax free return of capital up to an investor’s adjusted cost basis in its shares, and if an investor’s adjusted cost basis is reduced to zero, any remaining portion of the dividend will be taxed as capital gains. A copy of the Company’s IRS Form 8937 is attached as Exhibit 99.1 to this Form 8-K and is incorporated by reference into this Item 7.01 as if fully set forth herein. The Company’s IRS Form 8937 will be updated as necessary following the release of the Company’s full year 2023 financial results, which is tentatively scheduled for February 28, 2024. Shareholders should consult their own tax professionals regarding their receipt of the extraordinary cash dividend.
| Item 9.01. | EXHIBITS |
| 99.1 | Form 8937 dated January 10, 2024. | |
| 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| MBIA INC. | ||
| By: | /s/ William J. Rizzo | |
| William J. Rizzo | ||
| Co-General Counsel | ||
Date: January 11, 2024