New York Mortgage Trust Announces Tax Treatment of 2023 Dividend Distributions
January 30 2024 - 4:05PM
New York Mortgage Trust, Inc. (Nasdaq: NYMT) (“NYMT” or the
“Company”) today announced the following tax treatment of common
and preferred stock dividends declared in 2023. This information is
provided to assist stockholders with tax reporting requirements
related to dividend distributions of taxable income by the Company.
Stockholders should review the 2023 tax
statements received from their brokerage firms or other
institutions to ensure that the statements agree with the
information provided below. Also, as each stockholder's tax
situation may be different, stockholders are encouraged to consult
with their own professional tax advisor with respect to their
specific tax treatment of the Company's dividend distributions.
NYMT is required to report the portion of its
2023 dividends that are treated as excess inclusion income for
federal income tax purposes. No portion of the Company's 2023
dividend distributions are expected to consist of excess inclusion
income, which may be treated as unrelated business taxable income
(UBTI) and subject to special tax reporting for certain tax-exempt
investors.
NYMT completed a 1-for-4 reverse stock split of
common stock, effective March 9, 2023.
The Company's dividend distributions per share
of common stock (CUSIP #649604840) are to be classified for income
tax purposes as follows:
|
|
|
|
|
Box 1a |
Box 1b |
Box 2a |
Box 2b |
Box
3 |
Box 5 |
DeclarationDate |
RecordDate |
PaymentDate |
2023DistributionPer Share |
Adjustments |
2023 Ordinary
Dividend |
2023 Qualified
Dividend |
2023 Capital
GainDistribution |
2023UnrecapturedSection 1250Gain |
2023 Non Dividend
Distributions |
2023 199ADividends (1) |
3/09/2023 |
3/20/2023 |
4/26/2023 |
$0.40 |
|
- |
|
- |
- |
- |
- |
$0.40 |
- |
6/06/2023 |
6/16/2023 |
7/26/2023 |
$0.30 |
|
- |
|
- |
- |
- |
- |
$0.30 |
- |
9/11/2023 |
9/21/2023 |
10/26/2023 |
$0.30 |
|
- |
|
- |
- |
- |
- |
$0.30 |
- |
12/14/2023 |
12/26/2023 |
1/26/2024(A) |
$0.20 |
|
($0.20)(A) |
|
- |
- |
- |
- |
- |
- |
Totals |
$1.20 |
|
($0.20) |
|
- |
- |
- |
- |
$1.00 |
- |
(A) Pursuant to
IRC Section 857(b)(9), cash distributions made on January 26, 2024,
with a record date of December 26, 2023 are treated as received by
stockholders on December 31, 2023 to the extent of 2023 earnings
and profits. As NYMT’s aggregate 2023 cash distributions exceeded
its 2023 earnings and profits, the January 2024 cash distribution
declared in December 2023 is treated as a 2024 distribution for
federal income tax purposes and is not included on the 2023 Form
1099. If you were a stockholder of record as of December 26, 2023,
$0.0000 will be reported on your 2023 Form 1099 and $0.20000 will
be reported on your 2024 Form 1099 with respect to such cash
distribution.
The Company’s dividend distributions per share
of 8.000% Series D Fixed-to-Floating Rate Cumulative Redeemable
Preferred Stock (CUSIP #649604881) are to be classified for income
tax purposes as follows:
|
|
|
|
Box 1a |
Box 1b |
Box 2a |
Box 2b |
Box 3 |
Box 5 |
DeclarationDate |
RecordDate |
PaymentDate |
2023DistributionPer Share |
2023OrdinaryDividend |
2023QualifiedDividend |
2023Capital GainDistribution |
2023UnrecapturedSection 1250Gain |
2023Non DividendDistributions |
2023199ADividends(1) |
12/12/2022 |
1/1/2023 |
1/15/2023 |
$0.50 |
- |
- |
- |
- |
$0.50 |
- |
3/09/2023 |
4/1/2023 |
4/15/2023 |
$0.50 |
- |
- |
- |
- |
$0.50 |
- |
6/06/2023 |
7/1/2023 |
7/15/2023 |
$0.50 |
- |
- |
- |
- |
$0.50 |
- |
9/11/2023 |
10/1/2023 |
10/15/2023 |
$0.50 |
- |
- |
- |
- |
$0.50 |
- |
Totals |
$2.00 |
- |
- |
- |
- |
$2.00 |
- |
The Company's dividend distributions per share
of 7.875% Series E Fixed-to-Floating Rate Cumulative Redeemable
Preferred Stock (CUSIP #649604873) are to be classified for income
tax purposes as follows:
|
|
|
|
Box 1a |
Box 1b |
Box 2a |
Box 2b |
Box 3 |
Box 5 |
DeclarationDate |
RecordDate |
PaymentDate |
2023DistributionPer Share |
2023OrdinaryDividend |
2023QualifiedDividend |
2023Capital GainDistribution |
2023UnrecapturedSection 1250Gain |
2023Non DividendDistributions |
2023199ADividends(1) |
12/12/2022 |
1/1/2023 |
1/15/2023 |
$0.4921875 |
- |
- |
- |
- |
$0.4921875 |
- |
3/09/2023 |
4/1/2023 |
4/15/2023 |
$0.4921875 |
- |
- |
- |
- |
$0.4921875 |
- |
6/06/2023 |
7/1/2023 |
7/15/2023 |
$0.4921875 |
- |
- |
- |
- |
$0.4921875 |
- |
9/11/2023 |
10/1/2023 |
10/15/2023 |
$0.4921875 |
- |
- |
- |
- |
$0.4921875 |
- |
Totals |
$1.9687500 |
- |
- |
- |
- |
$1.9687500 |
- |
The Company's dividend distributions per share
of 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable
Preferred Stock (CUSIP #649604865) are to be classified for income
tax purposes as follows:
|
|
|
|
Box 1a |
Box 1b |
Box 2a |
Box 2b |
Box 3 |
Box 5 |
DeclarationDate |
RecordDate |
PaymentDate |
2023Distribution Per Share |
2023OrdinaryDividend |
2023QualifiedDividend |
2023Capital Gain
Distribution |
2023Unrecaptured Section 1250Gain |
2023Non Dividend
Distributions |
2023199ADividends(1) |
12/12/2022 |
1/1/2023 |
1/15/2023 |
$0.4296875 |
- |
- |
- |
- |
$0.4296875 |
- |
3/09/2023 |
4/1/2023 |
4/15/2023 |
$0.4296875 |
- |
- |
- |
- |
$0.4296875 |
- |
6/06/2023 |
7/1/2023 |
7/15/2023 |
$0.4296875 |
- |
- |
- |
- |
$0.4296875 |
- |
9/11/2023 |
10/1/2023 |
10/15/2023 |
$0.4296875 |
- |
- |
- |
- |
$0.4296875 |
- |
Totals |
$1.7187500 |
- |
- |
- |
- |
$1.7187500 |
- |
The Company's dividend distributions per share
of 7.000% Series G Cumulative Redeemable Preferred Stock (CUSIP
#649604857) are to be classified for income tax purposes as
follows:
|
|
|
|
Box 1a |
Box 1b |
Box 2a |
Box 2b |
Box 3 |
Box 5 |
DeclarationDate |
RecordDate |
PaymentDate |
2023 Distribution Per Share |
2023OrdinaryDividend |
2023QualifiedDividend |
2023Capital Gain
Distribution |
2023 Unrecaptured Section 1250Gain |
2023Non Dividend
Distributions |
2023199ADividends(1) |
12/12/2022 |
1/1/2023 |
1/15/2023 |
$0.437500 |
- |
- |
- |
- |
$0.437500 |
- |
3/09/2023 |
4/1/2023 |
4/15/2023 |
$0.437500 |
- |
- |
- |
- |
$0.437500 |
- |
6/06/2023 |
7/1/2023 |
7/15/2023 |
$0.437500 |
- |
- |
- |
- |
$0.437500 |
- |
9/11/2023 |
10/1/2023 |
10/15/2023 |
$0.437500 |
- |
- |
- |
- |
$0.437500 |
- |
Totals |
$1.750000 |
- |
- |
- |
- |
$1.750000 |
- |
(1) Section 199A Dividends, if any, are reported
in Box 5 of Form 1099-DIV. Section 199A Dividends are a subset of,
and included in, Ordinary Dividends, which are reported in Box 1a
of Form 1099-DIV. Section 199A Dividends shows the portion of the
Ordinary Dividends in Box 1a that may be eligible for the 20%
qualified business income deduction under Section 199A.
NYMT does not provide tax, accounting or legal
advice. Any tax statements contained herein were not intended or
written to be used, and cannot be used for the purpose of avoiding
U.S., federal, state or local tax penalties. Stockholders are
encouraged to consult with their personal tax advisors as to their
specific tax treatment of the Company’s dividend distributions and
the information contained herein.
About New York Mortgage
Trust
New York Mortgage Trust, Inc. is a Maryland
corporation that has elected to be taxed as a real estate
investment trust (“REIT”) for federal income tax purposes. NYMT is
an internally managed REIT in the business of acquiring, investing
in, financing and managing primarily mortgage-related single-family
and multi-family residential assets.
For Further Information AT THE
COMPANY Investor Relations Phone: 212-792-0107 Email:
InvestorRelations@nymtrust.com
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