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Blackstone Mortgage Trust Announces Tax Treatment of 2023 Dividends
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Blackstone Mortgage Trust, Inc. (BXMT) has announced the tax treatment of its 2023 class A common stock dividends. The company declared a total of $2.48 per share in dividends for the tax year ended December 31, 2023, with portions eligible for capital gains tax rates and the 20% deduction applicable to 'qualified REIT dividends' under IRC Section 199A(b)(1)(B). Shareholders are advised to consult their tax advisor for further guidance.
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NEW YORK--(BUSINESS WIRE)--
Blackstone Mortgage Trust, Inc. (NYSE: BXMT) today announced the tax treatment of its 2023 class A common stock dividends. The following table summarizes BXMT’s class A common stock dividend payments for the tax year ended December 31, 2023:
Box 1a
Box 1b
Box 2a
Box 5
Record
Payment
Cash
Ordinary
Qualified
Capital Gain
Section 199A
Date
Date
Distribution
Adjustment
Dividend
Dividends
Dividends(1)
Dividends
Dividends(2)
12/30/2022
1/13/2023
$ 0.00
$ 0.06
$ 0.06(3)
$0.06
$0.00
$0.00
$0.06
3/31/2023
4/15/2023
$ 0.62
$ 0.00
$ 0.62
$0.62
$0.01
$0.00
$0.61
6/30/2023
7/15/2023
$ 0.62
$ 0.00
$ 0.62
$0.62
$0.01
$0.00
$0.61
9/30/2023
10/14/2023
$ 0.62
$ 0.00
$ 0.62
$0.62
$0.01
$0.00
$0.61
12/29/2023
1/16/2024
$ 0.62
$ (0.39)
$ 0.23(4)
$0.23
$0.00
$0.00
$0.23
$ 2.48
$ (0.33)
$ 2.15
$2.15
$0.03
$0.00
$2.12
(1) Qualified Dividends shows the portion of the amount of Box 1a Ordinary Dividends that may be eligible for capital gains tax rates pursuant to IRC Section 857(c).
(2) Section 199A Dividends shows the portion of the amount of Box 1a Ordinary Dividends that 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) The cash dividend of $0.62 per share of common stock (with a record date of December 30, 2022, that was paid on January 13, 2023) is a split-year dividend, of which $0.56 was allocable to 2022 for federal income tax purposes and the remaining $0.06 is allocable to 2023 for federal income tax purposes.
(4) The cash dividend of $0.62 per share of common stock (with a record date of December 29, 2023, that was paid on January 16, 2024) is a split-year dividend, of which $0.23 is allocable to 2023 for federal income tax purposes and the remaining $0.39 will be allocable to 2024 for federal income tax purposes.
About Blackstone Mortgage Trust
Blackstone Mortgage Trust, Inc. (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 deliver compelling returns for institutional and individual investors by strengthening the companies in which we invest. Our more than $1 trillion in assets under management include global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.
What is the ticker symbol for Blackstone Mortgage Trust, Inc.?
The ticker symbol for Blackstone Mortgage Trust, Inc. is 'BXMT'.
What is the tax treatment announced by BXMT for its 2023 class A common stock dividends?
BXMT announced the tax treatment for its 2023 class A common stock dividends, with a total of $2.48 per share declared for the tax year ended December 31, 2023. Portions of the dividends are eligible for capital gains tax rates and the 20% deduction applicable to 'qualified REIT dividends' under IRC Section 199A(b)(1)(B). Shareholders are advised to consult their tax advisor for further guidance.
What is the significance of the cash dividend of $0.62 per share with a record date of December 30, 2022, paid on January 13, 2023?
The cash dividend of $0.62 per share with a record date of December 30, 2022, paid on January 13, 2023, is a split-year dividend, with $0.56 allocable to 2022 for federal income tax purposes and the remaining $0.06 allocable to 2023 for federal income tax purposes.
What should shareholders do regarding the tax treatment announced by BXMT for its 2023 class A common stock dividends?
Shareholders are advised to consult their tax advisor for further guidance regarding the tax treatment announced by BXMT for its 2023 class A common stock dividends.
