Blackstone Mortgage Trust Announces Tax Treatment of 2024 Dividends

Rhea-AI Summary

Blackstone Mortgage Trust (NYSE: BXMT) has disclosed the tax treatment of its 2024 class A common stock dividends. The company distributed a total of $2.18 per share throughout 2024, with $2.10 allocable to 2024 for tax purposes. The dividends were paid quarterly, with payments of $0.62 in April and July, followed by $0.47 in October and January 2025.

The January 2024 payment of $0.62 was a split-year dividend, with $0.39 allocable to 2024 and $0.23 to 2023. Similarly, the January 2025 payment of $0.47 is entirely allocable to 2025. All distributions were classified as Section 199A dividends, which may be eligible for the 20% qualified REIT dividend deduction under IRC Section 199A(b)(1)(B).

Positive

• Maintained consistent quarterly dividend payments throughout 2024
• Dividends qualify for potential 20% tax deduction under Section 199A

Negative

• Dividend amount reduced from $0.62 to $0.47 per share in latter half of 2024

NEW YORK--(BUSINESS WIRE)-- Blackstone Mortgage Trust, Inc. (NYSE: BXMT) today announced the tax treatment of its 2024 class A common stock dividends. The following table summarizes BXMT’s class A common stock dividend payments for the tax year ended December 31, 2024:

Box 1a

Box 1b

Box 2a

Box 3

Box 5

Distribution

Capital

Non-

Section

Record

Payment

Cash

Allocable

Ordinary

Qualified

Gain

Dividend

199A

Date

Date

Distribution

to 2024

Dividends

Dividends

(1)

Dividends

Distribution

Dividends

(2)

12/29/2023

1/16/2024

$–

$0.39

(3)

$–

$–

$–

$0.39

$–

3/28/2024

4/15/2024

0.62

0.62

–

–

–

0.62

–

6/28/2024

7/15/2024

0.62

0.62

–

–

–

0.62

–

9/30/2024

10/15/2024

0.47

0.47

–

–

–

0.47

–

12/31/2024

1/15/2025

0.47

–

(4)

–

–

–

–

–

$2.18

$2.10

$–

$–

$–

$2.10

$–

(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 29, 2023, that was paid on January 16, 2024) is a split-year dividend, of which $0.23 was allocable to 2023 for federal income tax purposes and the remaining $0.39 is allocable to 2024 for federal income tax purposes.

(4) The cash dividend of $0.47 per share of common stock (with a record date of December 31, 2024, that was paid on January 15, 2025) is entirely allocable to 2025 for federal income tax purposes. If you were a stockholder of record as of December 31, 2024, $0.47 will be reported on your 2025 Form 1099.

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 $1.1 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250204228907/en/

Investor and Media Relations Contact

Investor Relations

Blackstone

+1 (888) 756-8443

BlackstoneShareholderRelations@Blackstone.com

Public Affairs

Blackstone

+1 (212) 583-5263

PressInquiries@Blackstone.com

Source: Blackstone Mortgage Trust, Inc.

FAQ

What is the total dividend amount BXMT paid in 2024?

BXMT paid total dividends of $2.18 per share in 2024, with $2.10 allocable to the 2024 tax year.

How did BXMT's dividend payments change throughout 2024?

BXMT paid $0.62 per share in April and July 2024, then reduced to $0.47 per share for October 2024 and January 2025 payments.

Are BXMT's 2024 dividends eligible for tax benefits?

Yes, BXMT's dividends qualify as Section 199A dividends, potentially eligible for a 20% tax deduction under IRC Section 199A(b)(1)(B).

How is BXMT's January 2024 split-year dividend treated for tax purposes?

The January 2024 dividend of $0.62 is split between tax years, with $0.39 allocable to 2024 and $0.23 to 2023.

When will BXMT's January 2025 dividend be reported for tax purposes?

The $0.47 dividend paid in January 2025 will be reported on shareholders' 2025 Form 1099 and is entirely allocable to the 2025 tax year.