Anworth Announces 2017 Dividend Tax Information
January 30 2018 - 3:51PM
Business Wire
Anworth Mortgage Asset Corporation (NYSE: ANH), a real estate
investment trust (REIT), announced today tax information regarding
its dividend distributions for the Company’s fiscal year ended
December 31, 2017.
Stockholders should check the tax statements they receive from
brokerage firms to ensure that the Anworth dividend information
reported in those statements conforms to the information reported
herein. Furthermore, stockholders should consult their tax advisors
to determine the taxes that should be paid on Anworth’s
dividends.
As a REIT, Anworth’s dividends are generally not eligible for
rate reductions enacted for certain types of dividend income under
the Jobs and Growth Tax Relief Reconciliation Act of 2003. Thus,
the portion of Anworth’s dividends that are characterized as
ordinary income generally will be taxed at full ordinary income
rates. For stockholders that are corporations, Anworth’s dividends
are not eligible for the corporate dividends-received deduction.
Any dividend distribution, or portion thereof, that is carried over
to 2018 will be eligible for a 20% deduction from gross income
under the new tax law that is effective for 2018.
As each stockholder’s tax situation may be different and each
dividend distribution may have its own separate tax status, the
tables below provide the detailed tax information for each of
Anworth’s dividends declared during our 2017 fiscal year:
8.625% Series A Cumulative Preferred
Stock (CUSIP 037347 20 0)
2017 Total
2017 2017 Short-Term Declaration
Record Payable Distribution Ordinary
Return of Capital Carry-Over Date
Date Date Per Share income
Capital Gains to 2018 10/14/16
12/30/16 01/17/17 $ - $
- $ - $ -
$ - 01/26/17 03/31/17
04/17/17 0.539063 0.539063 - -
- 04/26/17 06/30/17 07/17/17
0.539063 0.539063 - - -
07/27/17 09/29/17 10/16/17 0.539063
0.539063 - - - 10/26/17
12/29/17 01/16/18 0.539063
0.205063 -
- 0.334000 Total: $
2.156252 $ 1.822252 $
- $ - $
0.334000
6.25% Series B Cumulative Convertible
Preferred Stock (CUSIP 037347 30 9)
2017 Total
2017 2017 Short-Term Declaration
Record Payable Distribution Ordinary
Return of Capital Carry-Over Date
Date Date Per Share(1) income
Capital Gains to 2018 10/14/16
12/30/16 01/17/17 $ 0.006634 $
0.006634 $ - $ - $
- 01/26/17 03/31/17 04/17/17
0.397776
0.397776
- - - 04/26/17 06/30/17
07/17/17 0.399958 0.399958 - -
- 07/27/17 09/29/17 10/16/17
0.396970 0.396970 - - -
10/26/17 12/29/17 01/16/18
0.390625 0.148596 -
- 0.242029 Total: $
1.591963
$
1.349934
$ - $ - $ 0.242029
(1) The Series B
Preferred Stock is convertible into shares of our common stock. The
conversion rate is adjusted per a stated formula when distributions
are made to our common stockholders. The value of any conversion
rate increase is a deemed distribution for tax purposes and is
taxable to holders of our Series B Preferred Stock to the extent
supported by earnings and profits and is included in the table
above. See Forms 8937 on our Company website for additional
details.
7.625% Series C Cumulative Redeemable
Preferred Stock (CUSIP 037347 40 8)
2017 Total
2017 2017 Short-Term Declaration
Record Payable Distribution Ordinary
Return of Capital Carry-Over Date
Date Date Per Share income
Capital Gains to 2018 10/14/16
12/30/16 01/17/17 $ - $ -
$ - $ - $ -
01/26/17 03/31/17 04/17/17 0.476563
0.476563 - - - 04/26/17
06/30/17 07/17/17 0.476563 0.476563
- - - 07/27/17 09/29/17
10/16/17 0.476563 0.476563 - -
- 10/26/17 12/29/17 01/16/18
0.476563 0.181288 -
- 0.295275 Total: $
1.906252 $ 1.610977 $ - $
- $ 0.295275
Common Stock (CUSIP 037347 10
1)
2017 Total
2017 2017 Short-Term Declaration
Record Payable Distribution Ordinary
Return of Capital Carry-Over Date
Date Date Per Share income
Capital Gains to 2018 12/16/16
12/30/16 01/30/17 $ 0.062630 $
0.062630 $ - $ - $
- 03/15/17 03/31/17 04/28/17
0.150000 0.150000 - - -
06/15/17 06/30/17 07/28/17 0.150000
0.150000 - - - 09/15/17
09/29/17 10/27/17 0.150000 0.150000
- - - 12/15/17 12/29/17
01/29/18 0.150000 -
- - 0.150000 Total:
$ 0.662630 $ 0.512630 $ -
$ - $ 0.150000
Because Anworth is a REIT, dividends declared in October,
November, or December of a calendar year with a record date in that
calendar year but which are payable in January of the following
year are considered paid for Form 1099 reporting purposes on the
record date, not on the payable date, to the extent the REIT has
any remaining undistributed earnings and profits (as computed for
income tax purposes) as of December 31 of that calendar year. The
amounts shown above that were declared in the fourth quarter of
2016 but not paid until January 2017 represent the per share amount
of the distributions paid which exceeded Anworth’s undistributed
earnings and profits for income tax purposes as of December 31,
2016 and which were not included in the 2016 tax year but were
carried over to 2017 as ordinary income for income tax purposes.
The amounts shown above in the column labeled Carry Over to 2018
represent the per share amount of the distributions payable in
January 2018 which exceeded Anworth’s undistributed earnings and
profits for income tax purposes as of December 31, 2017. These
amounts will be treated for income tax purposes as 2018
distributions to the Anworth stockholders to whom the distributions
were payable in January 2018.
Dividends may be reinvested through Anworth’s Dividend
Reinvestment Plan. Plan information may be obtained from the Plan
Administrator, American Stock Transfer and Trust Company, at
877-248-6410, on Anworth’s web site at http://www.anworth.com, or
by contacting Anworth at 310-255-4493.
About Anworth Mortgage Asset Corporation
Anworth is an externally-managed mortgage real estate investment
trust. We invest primarily in mortgage-backed securities that are
either rated “investment grade” or are guaranteed by federally
sponsored enterprises, such as Fannie Mae or Freddie Mac. We seek
to generate income for distribution to our shareholders primarily
based on the difference between the yield on our mortgage assets
and the cost of our borrowings. We are managed by Anworth
Management LLC, or the Manager, pursuant to a management agreement.
The Manager is subject to the supervision and direction of our
Board of Directors and is responsible for (i) the selection,
purchase, and sale of our investment portfolio; (ii) our financing
and hedging activities; and (iii) providing us with management
services and other services and activities relating to our assets
and operations as may be appropriate. Our common stock is traded on
the New York Stock Exchange under the symbol “ANH.” Anworth is a
component of the Russell 2000® Index.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995
This news release may contain forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are based upon our current expectations and speak only
as of the date hereof. Forward-looking statements, which are based
on various assumptions (some of which are beyond our control) may
be identified by reference to a future period or periods or by the
use of forward-looking terminology, such as “may, ” “will, ”
“believe, ” “expect, ” “anticipate, ” “assume,” “estimate,”
“intend,” “continue, ” or other similar terms, or variations on
those terms, or the negative of those terms. Our actual results may
differ materially and adversely from those expressed in any
forward-looking statements as a result of various factors and
uncertainties, including but not limited to, changes in interest
rates; changes in the market value of our mortgage-backed
securities; changes in the yield curve; the availability of
mortgage-backed securities for purchase; increases in the
prepayment rates on the mortgage loans securing our mortgage-backed
securities; our ability to use borrowings to finance our assets
and, if available, the terms of any financing; risks associated
with investing in mortgage-related assets; changes in business
conditions and the general economy, including the consequences of
actions by the U.S. government and other foreign governments to
address the global financial crisis; implementation of or changes
in government regulations affecting our business; our ability to
maintain our qualification as a real estate investment trust for
federal income tax purposes; our ability to maintain an exemption
from the Investment Company Act of 1940, as amended; risks
associated with our home rental business; and the Manager’s ability
to manage our growth. Our Annual Report on Form 10-K and other SEC
filings discuss the most significant risk factors that may affect
our business, results of operations and financial condition. We
undertake no obligation to revise or update publicly any
forward-looking statements for any reason.
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version on businesswire.com: http://www.businesswire.com/news/home/20180130006338/en/
Anworth Mortgage Asset CorporationJohn T. Hillman1299 Ocean
Avenue, Second FloorSanta Monica, CA 90401(310) 255-4438 or (310)
255-4493Email: jhillman@anworth.comWeb site:
http://www.anworth.com
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