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New York Mortgage Trust Announces Tax Treatment of 2020 Dividend Distributions

Published: 2021-01-29 21:30:00 ET
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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:

DeclarationDateRecordDatePaymentDate2020 DistributionPer ShareBox 1aBox 1bBox 2aBox 2bBox 3Box 5
2020OrdinaryDividend2020QualifiedDividend2020CapitalGainDistribution2020UnrecapturedSection 1250Gain2020NonDividendDistributions2020199ADividends1
6/15/20207/1/20207/27/2020$0.050000$0.039906---$0.010094$0.039906
9/14/20209/24/202010/26/2020$0.075000$0.059859---$0.015141$0.059859
12/7/202012/17/20201/25/2021$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 1aBox 1bBox 2aBox 2bBox 3Box 5
DeclarationDateRecordDatePaymentDate2020 DistributionPer Share2020OrdinaryDividend2020QualifiedDividend2020CapitalGainDistribution2020UnrecapturedSection 1250Gain2020NonDividendDistributions2020199ADividends1
12/10/20191/1/20201/15/2020$0.484375$0.484375----$0.484375
6/15/20207/1/20207/15/2020$0.968750$0.968750----$0.968750
9/14/202010/1/202010/15/2020$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:

DeclarationDateRecordDatePaymentDate2020 DistributionPer ShareBox 1aBox 1bBox 2aBox 2bBox 3Box 5
2020OrdinaryDividend2020QualifiedDividend2020CapitalGainDistribution2020UnrecapturedSection 1250Gain2020NonDividendDistributions2020199ADividends1
12/10/20191/1/20201/15/2020$0.492187$0.492187----$0.492187
6/15/20207/1/20207/15/2020$0.984375$0.984375----$0.984375
9/14/202010/1/202010/15/2020$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:

DeclarationDateRecordDatePaymentDate2020 DistributionPer ShareBox 1aBox 1bBox 2aBox 2bBox 3Box 5
2020OrdinaryDividend2020QualifiedDividend2020CapitalGainDistribution2020UnrecapturedSection 1250Gain2020NonDividendDistributions2020199ADividends1
12/10/20191/1/20201/15/2020$0.500000$0.500000----$0.500000
6/15/20207/1/20207/15/2020$1.000000$1.000000----$1.000000
9/14/202010/1/202010/15/2020$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:

DeclarationDateRecordDatePaymentDate2020 DistributionPer ShareBox 1aBox 1bBox 2aBox 2bBox 3Box 5
2020OrdinaryDividend2020QualifiedDividend2020CapitalGainDistribution2020UnrecapturedSection 1250Gain2020NonDividendDistributions2020199ADividend1
12/10/20191/1/20201/15/2020$0.475780$0.475780----$0.475780
6/15/20207/1/20207/15/2020$0.984375$0.984375----$0.984375
9/14/202010/1/202010/15/2020$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 InformationMari Nitta Investor Relations Associate Phone: 646-795-4066 Email: InvestorRelations@nymtrust.com

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Source: New York Mortgage Trust, Inc.