Ellington Credit Company Announces the Income Tax Treatment of its 2024 Distributions

Rhea-AI Summary

Ellington Credit Company (NYSE: EARN) has released information about the federal income tax treatment of distributions deemed paid in 2024 on its common shares. The company has made this information available on its website under the dividend and tax information section. Throughout 2024, the company operated as a taxable C-Corp.

OLD GREENWICH, Conn.--(BUSINESS WIRE)-- Ellington Credit Company (NYSE: EARN) (the "Company") today announced that information regarding the federal income tax treatment of the distributions deemed paid in 2024 on the Company's common shares has been posted to the Company’s website, at https://www.ellingtoncredit.com/dividend-and-tax-information. The Company operated as a taxable C-Corp throughout all of 2024.

About Ellington Credit Company

Ellington Credit Company, formerly known as Ellington Residential Mortgage REIT, was initially formed as a real estate investment trust ("REIT") that invested primarily in residential mortgage-backed securities ("MBS"). On March 29, 2024, the Company’s Board of Trustees approved a strategic transformation of its investment strategy to focus on corporate CLOs, with an emphasis on mezzanine debt and equity tranches. In connection with this transformation, the Company revoked its election to be taxed as a REIT (and therefore to be taxed as a C-Corp) effective January 1, 2024, and rebranded to Ellington Credit Company. At a special meeting of shareholders held on January 17, 2025, shareholders approved the Company's conversion to a Delaware registered closed-end fund to be treated as a regulated investment company under the Internal Revenue Code (the “Conversion”). The Company intends to complete the Conversion in early 2025.

Ellington Credit Company is externally managed and advised by Ellington Credit Company Management LLC, an affiliate of Ellington Management Group, L.L.C.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250131627658/en/

Investors:

Ellington Credit Company

Investor Relations

(203) 409-3773

info@earnreit.com

or

Media:

Amanda Shpiner/Grace Cartwright

Gasthalter & Co.

for Ellington Credit Company

(212) 257-4170

Ellington@gasthalter.com

Source: Ellington Credit Company

FAQ

What is the tax treatment of Ellington Credit Company's (EARN) 2024 distributions?

Ellington Credit Company has published the federal income tax treatment information for its 2024 distributions on its website at ellingtoncredit.com under the dividend and tax information section.

What was Ellington Credit Company's (EARN) corporate structure in 2024?

Ellington Credit Company operated as a taxable C- throughout all of 2024.

Where can shareholders find EARN's 2024 distribution tax information?

Shareholders can find the tax information for 2024 distributions on Ellington Credit Company's website at ellingtoncredit.com under the dividend and tax information section.

What type of distributions did Ellington Credit Company (EARN) make in 2024?

The company made distributions on its common shares that were deemed paid in 2024, with the specific tax treatment information available on their website.