Seven Hills Realty Trust Announces 2021 Dividend Allocations for Seven Hills Realty Trust and Tremont Mortgage Trust

Rhea-AI Summary

Seven Hills Realty Trust (Nasdaq: SEVN) has announced the dividend characterization for 2021 tax reporting. Shareholders should note the total dividend distribution of $0.45 per share, with $0.3543 classified as ordinary income. The dividends were declared on April 15, July 15, and August 27, 2021. The company advises shareholders to refer to IRS Form 1099-DIV for tax reporting purposes. SEVN primarily engages in originating and investing in first mortgage loans secured by middle market and transitional commercial real estate.

Positive

• Total dividend of $0.45 per share enhances shareholder income.
• Clear guidance on dividend characterization aids tax reporting.

Negative

• None.

NEWTON, Mass.--(BUSINESS WIRE)-- Seven Hills Realty Trust (Nasdaq: SEVN) today announced that the characterization of dividends for 2021 income tax reporting purposes for both SEVN and Tremont Mortgage Trust (“TRMT”), prior to TRMT’s merger with and into SEVN, is as follows:

SEVN Common Shares
								Dividend Allocation
								Per Share
										Section				Total		Unrecaptured
Declaration		Record		Paid/Payable		Dividends		Ordinary		199A		Qualified		Capital		Section 1250		Return of
Dates		Dates		Dates		Per Share		Income		Dividend(1)		Dividend(2)		Gain		Gain(3)		Capital
04/15/21		04/26/21		05/20/21		$0.15		$0.1181		$0.1181		$0.0000		$0.0000		$0.0000		$0.0319
07/15/21		07/26/21		08/19/21		$0.15		$0.1181		$0.1181		$0.0000		$0.0000		$0.0000		$0.0319
08/27/21		09/07/21		09/29/21		$0.15		$0.1181		$0.1181		$0.0000		$0.0000		$0.0000		$0.0319
				TOTALS:		$0.45		$0.3543		$0.3543		$0.0000		$0.0000		$0.0000		$0.0957

(1) Section 199A Dividends are a subset of, and included in, the Ordinary Income amount.

(2) Qualified Dividends are a subset of, and included in, the Ordinary Income amount.

(3) Unrecaptured Section 1250 Gain is a subset of, and included in, the Total Capital Gain amount.

TRMT Common Shares
								Dividend Allocation
								Per Share
										Section				Total		Unrecaptured
Declaration		Record		Paid/Payable		Dividends		Ordinary		199A		Qualified		Capital		Section 1250		Return of
Dates		Dates		Dates		Per Share		Income		Dividend(1)		Dividend(2)		Gain		Gain(3)		Capital
04/15/21		04/26/21		05/20/21		$0.10		$0.1000		$0.1000		$0.0000		$0.0000		$0.0000		$0.0000
07/15/21		07/26/21		08/19/21		$0.10		$0.1000		$0.1000		$0.0000		$0.0000		$0.0000		$0.0000
08/27/21		09/07/21		09/29/21		$0.17		$0.1700		$0.1700		$0.0000		$0.0000		$0.0000		$0.0000
				TOTALS:		$0.37		$0.3700		$0.3700		$0.0000		$0.0000		$0.0000		$0.0000

(1) Section 199A Dividends are a subset of, and included in, the Ordinary Income amount.

(2) Qualified Dividends are a subset of, and included in, the Ordinary Income amount.

(3) Unrecaptured Section 1250 Gain is a subset of, and included in, the Total Capital Gain amount.

For information regarding the effect on the tax basis of TRMT shares exchanged for SEVN shares, please see Form(s) 8937 published on the SEVN website: https://sevnreit.com/investors/stock-information/default.aspx.

SEVN’s common share CUSIP number is 81784E101. This information represents final income allocations.

Shareholders should look to IRS Form 1099-DIV for their tax reporting. This press release is not intended to replace the Form 1099-DIV.

Seven Hills Realty Trust (Nasdaq: SEVN) is a real estate finance company that originates and invests in first mortgage loans secured by middle market and transitional commercial real estate. SEVN is managed by Tremont Realty Capital, an affiliate of The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with over $32 billion in assets under management and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. For more information about SEVN, please visit www.sevnreit.com.

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220118006188/en/

Kevin Barry, Director, Investor Relations

(617) 658-0776

Source: Seven Hills Realty Trust

FAQ

What is the total dividend declared by Seven Hills Realty Trust for 2021?

The total dividend declared for 2021 is $0.45 per share.

How much of the dividend is classified as ordinary income for tax purposes?

Out of the total dividend, $0.3543 is classified as ordinary income.

When were the dividends declared for Seven Hills Realty Trust?

Dividends were declared on April 15, July 15, and August 27, 2021.

Where can shareholders find tax reporting information for dividends?

Shareholders should refer to IRS Form 1099-DIV for tax reporting related to dividends.

What is the primary business focus of Seven Hills Realty Trust?

Seven Hills Realty Trust focuses on originating and investing in first mortgage loans secured by middle market and transitional commercial real estate.