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Blackstone Mortgage Trust Announces Tax Treatment of 2021 Dividends
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Blackstone Mortgage Trust (NYSE: BXMT) announced the tax treatment of its 2021 class A common stock dividends. For the tax year ending December 31, 2021, total cash dividends amounted to $2.48 per share, with ordinary dividends contributing $0.09 and capital gains totaling $0.29. Cash distribution for January 15, 2022, is treated as received on December 31, 2021, impacting earnings and profits. Key details include $0.33 reported for 2022 and $0.29 for 2021 on the respective Form 1099s.
Positive
Total cash dividends for 2021 were $2.48 per share.
Ordinary dividends eligible for 20% deduction under IRC Section 199A.
Negative
Aggregate dividends declared exceeded 2021 earnings and profits.
NEW YORK--(BUSINESS WIRE)--
Blackstone Mortgage Trust, Inc. (NYSE: BXMT) today announced the tax treatment of its 2021 class A common stock dividends. The following table summarizes Blackstone Mortgage Trust’s class A common stock dividend payments for the tax year ended December 31, 2021:
Record
Payment
Cash
Ordinary
Qualified
Capital Gain
Date
Date
Distribution
Adjustment
Dividend (1)
Dividends (2)
Dividends
Dividends
12/31/2020
1/15/2021
$ 0.00
$ 0.42
$ 0.42(3)
$0.420000
$0.000000
$0.000000
3/31/2021
4/15/2021
$ 0.62
$ 0.00
$ 0.62
$0.620000
$0.000000
$0.000000
6/30/2021
7/15/2021
$ 0.62
$ 0.00
$ 0.62
$0.620000
$0.000000
$0.000000
9/30/2021
10/15/2021
$ 0.62
$ 0.00
$ 0.62
$0.620000
$0.000000
$0.000000
12/31/2021
1/14/2022
$ 0.62
$ (0.33)
$ 0.29
$0.290000
$0.000000
$0.000000
$ 2.48
$ 0.09
$ 2.57
$2.570000
$0.000000
$0.000000
(1) Pursuant to IRC Section 857(b)(9), cash distributions made on January 15, 2022 with a record date of December 31, 2021 are treated as received by shareholders on December 31, 2021 to the extent of 2021 earnings and profits. As the Company’s aggregate 2021 dividends declared exceeded its 2021 earnings and profits, a portion of the January 2022 cash distribution declared in the fourth quarter of 2021 was treated as a 2022 distribution for federal income tax purposes and not included on the 2021 Form 1099. If you were a stockholder of record as of December 31, 2021, $0.29 is reported on your 2021 Form 1099 and $0.33 will be reported on your 2022 Form 1099.
(2) Ordinary dividends may be eligible for the 20% deduction applicable to “qualified REIT dividends” under IRC Section 199A(b)(1)(B). Please consult your tax advisor.
(3) As the Company’s aggregate 2020 cash distributions exceeded its 2020 earnings and profits, a portion of the January 2021 cash distribution declared in the fourth quarter of 2020 was treated as a 2021 distribution for federal income tax purposes and not included on the 2020 Form 1099. If you were a stockholder of record as of December 31, 2020, $0.20 was reported on your 2020 Form 1099 and $0.42 is reported on your 2021 Form 1099.
About Blackstone Mortgage Trust Blackstone Mortgage Trust (NYSE:BXMT) is a real estate finance company that originates senior loans collateralized by commercial real estate in North America, Europe, and Australia. Our investment objective is to preserve and protect shareholder capital while producing attractive risk-adjusted returns primarily through dividends generated from current income from our loan portfolio. Our portfolio is composed primarily of loans secured by high-quality, institutional assets in major markets, sponsored by experienced, well-capitalized real estate investment owners and operators. These senior loans are capitalized by accessing a variety of financing options, depending on our view of the most prudent strategy available for each of our investments. We are externally managed by BXMT Advisors L.L.C., a subsidiary of Blackstone. Further information is available at www.bxmt.com.
About Blackstone Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $881 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, Twitter, and Instagram.
Forward-Looking Statements
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect Blackstone Mortgage Trust’s current views with respect to, among other things, Blackstone Mortgage Trust’s operations and financial performance and the impact of the COVID-19 pandemic. You can identify these forward-looking statements by the use of words such as “outlook,” “objective,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. Blackstone Mortgage Trust believes these factors include but are not limited to those described under the section entitled “Risk Factors” in its Annual Report on Form 10-K for the fiscal year ended December 31, 2020, as such factors may be further updated from time to time in its periodic filings with the Securities and Exchange Commission (“SEC”) which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in the filings. Blackstone Mortgage Trust assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events or circumstances.
