New York Mortgage Trust outlines 2024 dividend tax classifications for common and preferred stock for shareholder reporting.
Quiver AI Summary
New York Mortgage Trust, Inc. (NYMT) announced the tax treatment of its common and preferred stock dividends declared in 2024, aimed at assisting stockholders with their tax reporting. The Company specified that none of the 2024 dividends will be considered excess inclusion income, which is important for tax-exempt investors. The dividends for various series of preferred stock were detailed, including amounts and classifications for tax purposes. Stockholders are advised to compare these details with their brokerage statements and consult their tax advisors to understand the implications for their personal tax situation. NYMT is a REIT focused on mortgage-related residential assets.
Potential Positives
- The press release provides clear and detailed tax treatment information regarding the Company's dividend distributions for stakeholders, which aids in transparency and assists investors with their tax reporting requirements.
- None
Potential Negatives
- Potential confusion for stockholders regarding tax implications, as the press release emphasizes the need for individual tax consultations, which might lead to uncertainty among investors.
- The 2024 dividend distributions exceeding earnings and profits could raise concerns about the sustainability of future dividends, affecting investor confidence.
- Failure to provide explicit guidance on future dividend levels may indicate instability, which could negatively impact stockholder sentiment and stock performance.
FAQ
What is the tax treatment for NYMT's 2024 dividends?
For 2024, NYMT's dividends will be classified primarily as ordinary dividends, with no excess inclusion income reported.
How should stockholders report NYMT's dividends?
Stockholders should consult their tax statements from brokerage firms to confirm the classification of dividends for tax purposes.
Are there any special tax considerations for tax-exempt investors?
No portion of the 2024 dividends is expected to consist of excess inclusion income, avoiding unrelated business taxable income.
When will NYMT's dividend distributions be paid?
The dividend payments for 2024 occur quarterly, with specific declaration, record, and payment dates announced in the release.
Whom should stockholders consult for specific tax questions?
Stockholders are encouraged to consult their own professional tax advisors for personalized tax treatment concerning NYMT's dividend distributions.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$NYMT Hedge Fund Activity
We have seen 74 institutional investors add shares of $NYMT stock to their portfolio, and 77 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BALYASNY ASSET MANAGEMENT L.P. removed 394,415 shares (-31.8%) from their portfolio in Q3 2024, for an estimated $2,496,646
- WATERFALL ASSET MANAGEMENT, LLC removed 295,800 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $1,872,414
- BLACKROCK, INC. added 240,235 shares (+1.6%) to their portfolio in Q3 2024, for an estimated $1,520,687
- PALE FIRE CAPITAL SE added 207,971 shares (+inf%) to their portfolio in Q3 2024, for an estimated $1,316,456
- CHARLES SCHWAB INVESTMENT MANAGEMENT INC removed 195,164 shares (-12.8%) from their portfolio in Q3 2024, for an estimated $1,235,388
- MORGAN STANLEY added 152,924 shares (+13.8%) to their portfolio in Q3 2024, for an estimated $968,008
- EMG HOLDINGS, L.P. added 137,242 shares (+11.4%) to their portfolio in Q3 2024, for an estimated $868,741
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
NEW YORK, Jan. 30, 2025 (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 2024. 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 2024 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 2024 dividends that are treated as excess inclusion income for federal income tax purposes. No portion of the Company's 2024 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.
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 |
|||||||||
Declaration Date | Record Date | Payment Date | Distribution Per Share |
Adjustments |
2024
Ordinary Dividend |
2024
Qualified Dividend |
2024
Capital Gain Distribution |
2024 Unrecaptured Section 1250 Gain |
2024
Non Dividend Distributions |
2024 199A Dividends (1) |
||||
12/14/2023 | 12/26/2023 | 1/26/2024 (A) | $0.20 | - | - | - | - | - | $0.20 | - | ||||
3/13/2024 | 3/25/2024 | 4/25/2024 | $0.20 | - | - | - | - | - | $0.20 | - | ||||
6/18/2024 | 6/28/2024 | 7/29/2024 | $0.20 | - | - | - | - | - | $0.20 | - | ||||
9/19/2024 | 9/30/2024 | 10/28/2024 | $0.20 | - | - | - | - | - | $0.20 | - | ||||
12/10/2024 | 12/20/2024 | 1/23/2025 (B) | $0.20 | ($0.20) (B) | - | - | - | - | - | - | ||||
Totals | $ 1.00 | ($0.20 ) | - | - | - | - | $ 0.80 | - |
(A) |
Cash
distributions
paid
in
January
2024
were
treated as a 2024 distribution for federal income tax purposes
(See press release related to tax
treatment
of 2023
d
ividend
d
istributions)
. If you were a stockholder of record as of December 26, 2023
,
$0.20000 will be reported on your 2024 Form 1099
with respect to such cash distribution
.
|
|
(B) | Pursuant to IRC Section 857(b)(9), distributions made on January 23, 2025, with a record date of December 20, 2024 are treated as received by stockholders on December 31, 2024 to the extent of 2024 earnings and profits. As NYMT’s aggregate 2024 cash distributions exceeded its 2024 earnings and profits, the January 2025 cash distribution declared in December 2024 is treated as a 2025 distribution for federal income tax purposes and is not included on the 2024 Form 1099. If you were a stockholder of record as of December 20, 2024, $0.0000 will be reported on your 2024 Form 1099 and $0.20000 will be reported on your 2025 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 |
||||||
Declaration Date | Record Date | Payment Date | 2024 Distribution Per Share |
2024
Ordinary Dividend |
2024
Qualified Dividend |
2024
Capital Gain Distribution |
2024 Unrecaptured Section 1250 Gain |
2024
Non Dividend Distributions |
2024 199A Dividends (1) |
||
12/14/2023 | 1/1/2024 | 1/15/2024 | $0.50 | - | - | - | - | $0.50 | - | ||
3/13/2024 | 4/1/2024 | 4/15/2024 | $0.50 | - | - | - | - | $0.50 | - | ||
6/18/2024 | 7/1/2024 | 7/15/2024 | $0.50 | - | - | - | - | $0.50 | - | ||
9/19/2024 | 10/1/2024 | 10/15/2024 | $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 |
|||||||
Declaration Date | Record Date | Payment Date | 2024 Distribution Per Share |
2024
Ordinary Dividend |
2024
Qualified Dividend |
2024
Capital Gain Distribution |
2024 Unrecaptured Section 1250 Gain |
2024
Non Dividend Distributions |
2024 199A Dividends (1) |
|||
12/14/2023 | 1/1/2024 | 1/15/2024 | $0.4921875 | - | - | - | - | $0.4921875 | - | |||
3/13/2024 | 4/1/2024 | 4/15/2024 | $0.4921875 | - | - | - | - | $0.4921875 | - | |||
6/18/2024 | 7/1/2024 | 7/15/2024 | $0.4921875 | - | - | - | - | $0.4921875 | - | |||
9/19/2024 | 10/1/2024 | 10/15/2024 | $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 |
||||||
Declaration Date | Record Date | Payment Date | 2024 Distribution Per Share |
2024
Ordinary Dividend |
2024
Qualified Dividend |
2024
Capital Gain Distribution |
2024 Unrecaptured Section 1250 Gain |
2024
Non Dividend Distributions |
2024 199A Dividends (1) |
||
12/14/2023 | 1/1/2024 | 1/15/2024 | $0.4296875 | - | - | - | - | $0.4296875 | - | ||
3/13/2024 | 4/1/2024 | 4/15/2024 | $0.4296875 | - | - | - | - | $0.4296875 | - | ||
6/18/2024 | 7/1/2024 | 7/15/2024 | $0.4296875 | - | - | - | - | $0.4296875 | - | ||
9/19/2024 | 10/1/2024 | 10/15/2024 | $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 |
||||||
Declaration Date | Record Date | Payment Date | 2024 Distribution Per Share |
2024
Ordinary Dividend |
2024
Qualified Dividend |
2024
Capital Gain Distribution |
2024 Unrecaptured Section 1250 Gain |
2024
Non Dividend Distributions |
2024 199A Dividends (1) |
||
12/14/2023 | 1/1/2024 | 1/15/2024 | $0.437500 | - | - | - | - | $0.437500 | - | ||
3/13/2024 | 4/1/2024 | 4/15/2024 | $0.437500 | - | - | - | - | $0.437500 | - | ||
6/18/2024 | 7/1/2024 | 7/15/2024 | $0.437500 | - | - | - | - | $0.437500 | - | ||
9/19/2024 | 10/1/2024 | 10/15/2024 | $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: [email protected]