Anworth Mortgage Asset Corporation (NYSE: ANH), a real estate
investment trust (REIT), announced today the following tax
treatment regarding its dividend distributions for the Company’s
fiscal year ended December 31, 2019.
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.
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. Effective in 2018, the Tax Cuts and Jobs Act generally
allows for a 20% deduction of REIT dividends treated as ordinary
income. However, this may not apply for all stockholders, as each
stockholder’s tax situation may be different, and each dividend
distribution may have its own separate tax status. Accordingly,
stockholders are encouraged to consult their tax advisors to
determine the taxes that should be paid on Anworth’s dividend
distributions.
The tables below provide detailed tax information relating to
the quarterly dividend distributions paid to Anworth’s stockholders
with respect to the 2019 tax year:
8.625% Series A Cumulative Preferred Stock (CUSIP 037347 20
0)
2019
Total
2019
2019
Short-Term
Declaration
Record
Payable
Distribution
Ordinary
Return of
Capital
Carry-Over
Date
Date
Date
Per Share
income
Capital
Gains
to 2020
11/06/18 12/31/18 01/15/19
$
0.539063
$
0.539063
$
-
$
-
$
-
02/28/19 03/29/19 04/15/19
$
0.539063
$
0.539063
-
-
-
05/07/19 06/28/19 07/15/19
$
0.539063
$
0.539063
-
-
-
08/06/19 09/30/19 10/15/19
$
0.539063
$
0.539063
-
-
-
11/06/19 12/31/19 01/15/20
$
0.539063
-
-
-
0.539063
Total:
$
2.695315
$
2.156252
$
-
$
-
$
0.539063
6.25% Series B Cumulative Convertible Preferred Stock (CUSIP
037347 30 9)
2019
Total
2019
2019
Short-Term
Declaration
Record
Payable
Distribution
Ordinary
Return of
Capital
Carry-Over
Date
Date
Date
Per Share(1)
income
Capital
Gains
to 2020
11/06/18 12/31/18 01/15/19
$
0.395857
$
0.395857
$
-
$
-
$
-
02/28/19 03/29/19 04/15/19
0.396315
0.396315
-
-
-
05/07/19 06/28/19 07/15/19
0.394509
0.394509
-
-
-
08/06/19 09/30/19 10/15/19
0.394301
0.394301
-
-
-
11/06/19 12/31/19 01/15/20
0.390625
-
-
-
0.390625
Total:
$
1.971607
$
1.580982
$
-
$
-
$
0.390625
_______________
(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)
2019
Total
2019
2019
Short-Term
Declaration
Record
Payable
Distribution
Ordinary
Return of
Capital
Carry-Over
Date
Date
Date
Per Share
income
Capital
Gains
to 2020
11/06/18 12/31/18 01/15/19
$
0.476563
$
0.476563
$
-
$
-
$
-
02/28/19 03/29/19 04/15/19
$
0.476563
$
0.476563
-
-
-
05/07/19 06/28/19 07/15/19
$
0.476563
$
0.476563
-
-
-
08/06/19 09/30/19 10/15/19
$
0.476563
$
0.476563
-
-
-
11/06/19 12/31/19 01/15/20
$
0.476563
-
-
-
0.476563
Total:
$
2.382815
$
1.906252
$
-
$
-
$
0.476563
Common Stock (CUSIP 037347 10 1)
2019
Total
2019
2019
Short-Term
Declaration
Record
Payable
Distribution
Ordinary
Return of
Capital
Carry-Over
Date
Date
Date
Per Share
income
Capital
Gains
to 2020
12/14/18 12/31/18 01/29/19
$
0.130000
$
0.091521
$
0.038479
$
-
$
-
03/14/19 03/29/19 04/29/19
0.130000
0.091521
0.038479
-
-
06/13/19 06/28/19 07/29/19
0.110000
0.077441
0.032559
-
-
09/17/19 09/30/19 10/29/19
0.100000
0.070401
0.029599
-
-
12/17/19 12/31/19 01/29/20
0.090000
-
-
-
0.090000
Total:
$
0.560000
$
0.330884
$
0.139116
$
-
$
0.090000
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
2019 but not paid until January 2020 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,
2019 and which were not included in the 2019 tax year but were
carried over to 2020 as ordinary income for income tax
purposes.
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 portfolio
management, administrative, 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: https://www.businesswire.com/news/home/20200204006025/en/
Anworth Mortgage Asset Corporation John T. Hillman 1299 Ocean
Avenue, 2nd Floor Santa Monica, CA 90401 (310) 255-4438 or (310)
255-4493 Email: jhillman@anworth.com Web site:
http://www.anworth.com
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