Apollo Commercial Real Estate Finance, Inc. Announces 2018 Dividend Income Tax Treatment
January 30 2019 - 4:30PM
Apollo Commercial Real Estate Finance, Inc. (the “Company” or
“ARI”) (NYSE:ARI) today announced the estimated federal income tax
treatment of the Company’s 2018 distributions on its common stock
(CUSIP #03762U105) and on its 8.00% Fixed-to-Floating Series B
Cumulative Redeemable Perpetual Preferred Stock and 8.00% Series C
Cumulative Redeemable Perpetual Preferred Stock (CUSIP #03763V201).
The federal income tax classification of the 2018 distributions
on the Company’s common stock as it is expected to be reported on
Form 1099-DIV is set forth in the following table:
RecordDate |
PayableDate |
TotalDistributionPer Share |
|
Ordinary IncomePer Share (2) |
Return ofCapital PerShare |
Capital Gain PerShare |
12/29/2017 |
01/16/2018 |
$0.46 |
|
$0.3830 |
$0.0381 |
- |
03/30/2018 |
04/16/2018 |
$0.46 |
|
$0.4183 |
$0.0417 |
- |
06/29/2018 |
07/16/2018 |
$0.46 |
|
$0.4183 |
$0.0417 |
- |
09/28/2018 |
10/15/2018 |
$0.46 |
|
$0.4183 |
$0.0417 |
- |
12/31/2018(1) |
01/15/2019 |
$0.46 |
|
- |
- |
- |
(1) Pursuant to Section 857(b)(9) of the Internal Revenue Code
of 1986, as amended, cash distributions made on January 15, 2019 to
stockholders of record as of December 31, 2018, are treated, to the
extent of the Company’s 2018 tax earnings and profits, as received
by stockholders on December 31, 2018. Since the Company’s aggregate
cash distributions exceeded its 2018 tax earnings and profits, all
of the January 2019 cash distribution declared in the fourth
quarter of 2018 will be treated as a 2019 distribution for federal
income tax purposes and will not be included on the 2018 Form
1099-DIV.
(2) May be eligible for a 20% deduction through the “qualified
business income deduction” under IRC Section 199A(b)(1)(B).
Stockholders are encouraged to consult with their own tax advisors
as to their specific tax treatment of the Company's
distributions.
The federal income tax classification of the 2018 distributions
on the Company’s 8.00% Fixed-to-Floating Series B Cumulative
Redeemable Perpetual Preferred stock as it is expected to be
reported on Form 1099-DIV is set forth in the following table:
RecordDate |
PayableDate |
TotalDistributionPer Share |
|
Ordinary IncomePer Share |
Return ofCapital PerShare |
Capital Gain PerShare |
03/30/2018 |
04/16/2018 |
$0.50 |
|
$0.50 |
- |
- |
06/29/2018 |
07/16/2018 |
$0.50 |
|
$0.50 |
- |
- |
09/28/2018 |
10/15/2018 |
$0.50 |
|
$0.50 |
- |
- |
12/31/2018 |
01/15/2019 |
$0.50 |
|
$0.50 |
- |
- |
|
|
|
|
|
|
|
The federal income tax classification of the 2018 distributions
on the Company’s 8.00% Series C Cumulative Redeemable Perpetual
Preferred stock as it is expected to be reported on Form 1099-DIV
is set forth in the following table:
RecordDate |
PayableDate |
TotalDistributionPer Share |
|
Ordinary IncomePer Share |
Return ofCapital PerShare |
Capital Gain PerShare |
03/30/2018 |
04/30/2018 |
$0.50 |
|
$0.50 |
- |
- |
06/29/2018 |
07/31/2018 |
$0.50 |
|
$0.50 |
- |
- |
09/28/2018 |
10/31/2018 |
$0.50 |
|
$0.50 |
- |
- |
12/31/2018 |
01/31/2019 |
$0.50 |
|
$0.50 |
- |
- |
|
|
|
|
|
|
|
Stockholders are encouraged to consult with their own tax
advisors as to their specific tax treatment of the Company's
distributions.
About Apollo Commercial Real Estate
Finance, Inc. Apollo Commercial Real Estate Finance, Inc.
(NYSE: ARI) is a real estate investment trust that primarily
originates, acquires, invests in and manages performing commercial
real estate first mortgage loans, subordinate financings and other
commercial real estate-related debt investments. The Company
is externally managed and advised by ACREFI Management, LLC, a
Delaware limited liability company and an indirect subsidiary of
Apollo Global Management, LLC, a leading global alternative
investment manager with approximately $270 billion of assets under
management at September 30, 2018.
Additional information can be found on the
Company's website at www.apolloreit.com.
Forward-Looking
StatementsCertain statements contained in this press
release constitute forward-looking statements as such term is
defined in Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
and such statements are intended to be covered by the safe harbor
provided by the same. Forward-looking statements are subject to
substantial risks and uncertainties, many of which are difficult to
predict and are generally beyond the Company's control. These
forward-looking statements include information about possible or
assumed future results of the Company's business, financial
condition, liquidity, results of operations, plans and objectives.
When used in this release, the words believe, expect, anticipate,
estimate, plan, continue, intend, should, may or similar
expressions, are intended to identify forward-looking statements.
Statements regarding the following subjects, among others, may be
forward-looking: the return on equity; the yield on investments;
the ability to borrow to finance assets; the Company’s ability to
deploy the proceeds of its capital raises or acquire its target
assets; and risks associated with investing in real estate assets,
including changes in business conditions and the general economy.
For a further list and description of such risks and uncertainties,
see the reports filed by the Company with the Securities and
Exchange Commission. The forward-looking statements, and other
risks, uncertainties and factors are based on the Company's
beliefs, assumptions and expectations of its future performance,
taking into account all information currently available to the
Company. Forward-looking statements are not predictions of future
events. The Company disclaims any intention or obligation to update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise, except as required by
law.
CONTACT:Hilary
GinsbergInvestor Relations (212)
822-0767
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