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New York Mortgage Trust Announces Tax Treatment of 2020 Dividend Distributions

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New York Mortgage Trust, Inc.
·5 min read
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NEW YORK, Jan. 29, 2021 (GLOBE NEWSWIRE) -- 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 2020. 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 2020 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.

The Company's dividend distributions per share of common stock (CUSIP #649604501) are to be classified for income tax purposes as follows:

Declaration
Date

Record
Date

Payment
Date

2020 Distribution
Per Share

Box 1a

Box 1b

Box 2a

Box 2b

Box 3

Box 5

2020
Ordinary
Dividend

2020
Qualified
Dividend

2020
Capital
Gain
Distribution

2020
Unrecaptured
Section 1250
Gain

2020
Non
Dividend
Distributions

2020
199A
Dividends
1

6/15/2020

7/1/2020

7/27/2020

$0.050000

$0.039906

-

-

-

$0.010094

$0.039906

9/14/2020

9/24/2020

10/26/2020

$0.075000

$0.059859

-

-

-

$0.015141

$0.059859

12/7/2020

12/17/2020

1/25/2021

$0.100000

$0.079813

-

-

-

$0.020187

$0.079813

Totals

$0.225000

$0.179578

-

-

-

$0.045422

$0.179578

The Company's dividend distributions per share of 7.750% Series B Cumulative Redeemable Preferred Stock (CUSIP #649604709) are to be classified for income tax purposes as follows:

Box 1a

Box 1b

Box 2a

Box 2b

Box 3

Box 5

Declaration
Date

Record
Date

Payment
Date

2020 Distribution
Per Share

2020
Ordinary
Dividend

2020
Qualified
Dividend

2020
Capital
Gain
Distribution

2020
Unrecaptured
Section 1250
Gain

2020
Non
Dividend
Distributions

2020
199A
Dividends
1

12/10/2019

1/1/2020

1/15/2020

$0.484375

$0.484375

-

-

-

-

$0.484375

6/15/2020

7/1/2020

7/15/2020

$0.968750

$0.968750

-

-

-

-

$0.968750

9/14/2020

10/1/2020

10/15/2020

$0.484375

$0.484375

-

-

-

-

$0.484375

Totals

$1.937500

$1.937500

-

-

-

-

$1.937500

The Company's dividend distributions per share of 7.875% Series C Cumulative Redeemable Preferred Stock (CUSIP #649604808) are to be classified for income tax purposes as follows:

Declaration
Date

Record
Date

Payment
Date

2020 Distribution
Per Share

Box 1a

Box 1b

Box 2a

Box 2b

Box 3

Box 5

2020
Ordinary
Dividend

2020
Qualified
Dividend

2020
Capital
Gain
Distribution

2020
Unrecaptured
Section 1250
Gain

2020
Non
Dividend
Distributions

2020
199A
Dividends
1

12/10/2019

1/1/2020

1/15/2020

$0.492187

$0.492187

-

-

-

-

$0.492187

6/15/2020

7/1/2020

7/15/2020

$0.984375

$0.984375

-

-

-

-

$0.984375

9/14/2020

10/1/2020

10/15/2020

$0.492188

$0.492188

-

-

-

-

$0.492188

Totals

$1.968750

$1.968750

-

-

-

-

$1.968750

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:

Declaration
Date

Record
Date

Payment
Date

2020 Distribution
Per Share

Box 1a

Box 1b

Box 2a

Box 2b

Box 3

Box 5

2020
Ordinary
Dividend

2020
Qualified
Dividend

2020
Capital
Gain
Distribution

2020
Unrecaptured
Section 1250
Gain

2020
Non
Dividend
Distributions

2020
199A
Dividends
1

12/10/2019

1/1/2020

1/15/2020

$0.500000

$0.500000

-

-

-

-

$0.500000

6/15/2020

7/1/2020

7/15/2020

$1.000000

$1.000000

-

-

-

-

$1.000000

9/14/2020

10/1/2020

10/15/2020

$0.500000

$0.500000

-

-

-

-

$0.500000

Totals

$2.000000

$2.000000

-

-

-

-

$2.000000

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:

Declaration
Date

Record
Date

Payment
Date

2020 Distribution
Per Share

Box 1a

Box 1b

Box 2a

Box 2b

Box 3

Box 5

2020
Ordinary
Dividend

2020
Qualified
Dividend

2020
Capital
Gain
Distribution

2020
Unrecaptured
Section 1250
Gain

2020
Non
Dividend
Distributions

2020
199A
Dividend
1

12/10/2019

1/1/2020

1/15/2020

$0.475780

$0.475780

-

-

-

-

$0.475780

6/15/2020

7/1/2020

7/15/2020

$0.984375

$0.984375

-

-

-

-

$0.984375

9/14/2020

10/1/2020

10/15/2020

$0.492188

$0.492188

-

-

-

-

$0.492188

Totals

$1.952343

$1.952343

-

-

-

-

$1.952343

(1) Section 199A Dividends 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.

New York Mortgage Trust 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
Mari Nitta
Investor Relations Associate
Phone: 646-795-4066
Email: InvestorRelations@nymtrust.com