New York Mortgage Trust Announces Tax Treatment of 2020 Dividend Distributions

Rhea-AI Summary

New York Mortgage Trust, Inc. (NASDAQ: NYMT) announced tax treatment for its 2020 common and preferred stock dividends. The distributions include $0.225 per common share, $1.9375 per Series B preferred share, $1.96875 per Series C preferred share, $2.00 per Series D preferred share, and $1.952343 per Series E preferred share. Stockholders are advised to review their tax statements and consult tax professionals regarding these dividend distributions. The record and payment dates for each dividend are provided to assist in tax reporting.

Positive

• $0.225 per common share distributed to shareholders.
• Consistent dividend payments across preferred stock series.

Negative

• None.

NEW YORK, Jan. 29, 2021 (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 2020. 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 2020 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.

The Company's dividend distributions per share of common stock (CUSIP #649604501) are to be classified for income tax purposes as follows:

Declaration Date	Record Date	Payment Date	2020 Distribution Per Share		Box 1a		Box 1b	Box 2a	Box 2b	Box 3		Box 5
					2020 Ordinary Dividend		2020 Qualified Dividend	2020 Capital Gain Distribution	2020 Unrecaptured Section 1250 Gain	2020 Non Dividend Distributions		2020 199A Dividends1
6/15/2020	7/1/2020	7/27/2020	$0.050000		$0.039906		-	-	-	$0.010094		$0.039906
9/14/2020	9/24/2020	10/26/2020	$0.075000		$0.059859		-	-	-	$0.015141		$0.059859
12/7/2020	12/17/2020	1/25/2021	$0.100000		$0.079813		-	-	-	$0.020187		$0.079813
Totals			$0.225000		$0.179578		-	-	-	$0.045422		$0.179578

The Company's dividend distributions per share of 7.750% Series B Cumulative Redeemable Preferred Stock (CUSIP #649604709) 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	2020 Distribution Per Share		2020 Ordinary Dividend		2020 Qualified Dividend	2020 Capital Gain Distribution	2020 Unrecaptured Section 1250 Gain	2020 Non Dividend Distributions	2020 199A Dividends1
12/10/2019	1/1/2020	1/15/2020	$0.484375		$0.484375		-	-	-	-	$0.484375
6/15/2020	7/1/2020	7/15/2020	$0.968750		$0.968750		-	-	-	-	$0.968750
9/14/2020	10/1/2020	10/15/2020	$0.484375		$0.484375		-	-	-	-	$0.484375
Totals			$1.937500		$1.937500		-	-	-	-	$1.937500

The Company's dividend distributions per share of 7.875% Series C Cumulative Redeemable Preferred Stock (CUSIP #649604808) are to be classified for income tax purposes as follows:

Declaration Date	Record Date	Payment Date	2020 Distribution Per Share		Box 1a		Box 1b	Box 2a	Box 2b	Box 3	Box 5
					2020 Ordinary Dividend		2020 Qualified Dividend	2020 Capital Gain Distribution	2020 Unrecaptured Section 1250 Gain	2020 Non Dividend Distributions	2020 199A Dividends1
12/10/2019	1/1/2020	1/15/2020	$0.492187		$0.492187		-	-	-	-	$0.492187
6/15/2020	7/1/2020	7/15/2020	$0.984375		$0.984375		-	-	-	-	$0.984375
9/14/2020	10/1/2020	10/15/2020	$0.492188		$0.492188		-	-	-	-	$0.492188
Totals			$1.968750		$1.968750		-	-	-	-	$1.968750

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:

Declaration Date	Record Date	Payment Date	2020 Distribution Per Share		Box 1a		Box 1b	Box 2a	Box 2b	Box 3	Box 5
					2020 Ordinary Dividend		2020 Qualified Dividend	2020 Capital Gain Distribution	2020 Unrecaptured Section 1250 Gain	2020 Non Dividend Distributions	2020 199A Dividends1
12/10/2019	1/1/2020	1/15/2020	$0.500000		$0.500000		-	-	-	-	$0.500000
6/15/2020	7/1/2020	7/15/2020	$1.000000		$1.000000		-	-	-	-	$1.000000
9/14/2020	10/1/2020	10/15/2020	$0.500000		$0.500000		-	-	-	-	$0.500000
Totals			$2.000000		$2.000000		-	-	-	-	$2.000000

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:

Declaration Date	Record Date	Payment Date	2020 Distribution Per Share		Box 1a		Box 1b	Box 2a	Box 2b	Box 3	Box 5
					2020 Ordinary Dividend		2020 Qualified Dividend	2020 Capital Gain Distribution	2020 Unrecaptured Section 1250 Gain	2020 Non Dividend Distributions	2020 199A Dividend1
12/10/2019	1/1/2020	1/15/2020	$0.475780		$0.475780		-	-	-	-	$0.475780
6/15/2020	7/1/2020	7/15/2020	$0.984375		$0.984375		-	-	-	-	$0.984375
9/14/2020	10/1/2020	10/15/2020	$0.492188		$0.492188		-	-	-	-	$0.492188
Totals			$1.952343		$1.952343		-	-	-	-	$1.952343

⁽¹⁾ Section 199A Dividends 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.

New York Mortgage Trust 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
Mari Nitta
Investor Relations Associate
Phone: 646-795-4066
Email: InvestorRelations@nymtrust.com

FAQ

What is the dividend distribution for New York Mortgage Trust in 2020?

New York Mortgage Trust distributed $0.225 per common share in 2020.

What are the dividend payment dates for NYMT in 2020?

Payment dates for NYMT dividends in 2020 include July 27, October 26, and January 25, 2021.

How should I report NYMT's dividend income for tax purposes?

Shareholders should review their 2020 tax statements and may consult a tax advisor for specific reporting guidance.

What tax classifications are assigned to NYMT's 2020 dividends?

NYMT's 2020 dividends are classified as ordinary dividends, qualified dividends, and Section 199A dividends.