Stockholders should review the 2023 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.
NYMT is required to report the portion of its 2023 dividends that are treated as excess inclusion income for federal income tax purposes. No portion of the Company’s 2023 dividend distributions are expected to consist of excess inclusion income, which may be treated as unrelated business taxable income (UBTI) and subject to special tax reporting for certain tax-exempt investors.
NYMT completed a 1-for-4 reverse stock split of common stock, effective March 9, 2023.
The Company’s dividend distributions per share of common stock (CUSIP #649604840) 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 | 2023 Distribution Per Share | Adjustments | 2023 Ordinary Dividend | 2023 Qualified Dividend | 2023 Capital Gain Distribution | 2023 Unrecaptured Section 1250 Gain | 2023 NonDividend Distributions | 2023 199A Dividends (1) | ||||
| 3/09/2023 | 3/20/2023 | 4/26/2023 | $0.40 | – | – | – | – | – | $0.40 | – | ||||
| 6/06/2023 | 6/16/2023 | 7/26/2023 | $0.30 | – | – | – | – | – | $0.30 | – | ||||
| 9/11/2023 | 9/21/2023 | 10/26/2023 | $0.30 | – | – | – | – | – | $0.30 | – | ||||
| 12/14/2023 | 12/26/2023 | 1/26/2024(A) | $0.20 | ($0.20)(A) | – | – | – | – | – | – | ||||
| Totals | $1.20 | ($0.20) | – | – | – | – | $1.00 | – | ||||||
(A)Pursuant to IRC Section 857(b)(9), cash distributions made on January 26, 2024, with a record date of December 26, 2023 are treated as received by stockholders on December 31, 2023 to the extent of 2023 earnings and profits. As NYMT’s aggregate 2023 cash distributions exceeded its 2023 earnings and profits, the January 2024 cash distribution declared in December 2023 is treated as a 2024 distribution for federal income tax purposes and is not included on the 2023 Form 1099. If you were a stockholder of record as of December 26, 2023, $0.0000 will be reported on your 2023 Form 1099 and $0.20000 will be reported on your 2024 Form 1099 with respect to such cash distribution.
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:
| Box 1a | Box 1b | Box 2a | Box 2b | Box 3 | Box 5 | ||||||
| Declaration Date | Record Date | Payment Date | 2023 Distribution Per Share | 2023 Ordinary Dividend | 2023 Qualified Dividend | 2023 Capital Gain Distribution | 2023 Unrecaptured Section 1250 Gain | 2023 NonDividend Distributions | 2023 199A Dividends(1) | ||
| 12/12/2022 | 1/1/2023 | 1/15/2023 | $0.50 | – | – | – | – | $0.50 | – | ||
| 3/09/2023 | 4/1/2023 | 4/15/2023 | $0.50 | – | – | – | – | $0.50 | – | ||
| 6/06/2023 | 7/1/2023 | 7/15/2023 | $0.50 | – | – | – | – | $0.50 | – | ||
| 9/11/2023 | 10/1/2023 | 10/15/2023 | $0.50 | – | – | – | – | $0.50 | – | ||
| Totals | $2.00 | – | – | – | – | $2.00 | – | ||||
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:
| Box 1a | Box 1b | Box 2a | Box 2b | Box 3 | Box 5 | ||||||
| Declaration Date | Record Date | Payment Date | 2023 Distribution Per Share | 2023 Ordinary Dividend | 2023 Qualified Dividend | 2023 Capital Gain Distribution | 2023 Unrecaptured Section 1250 Gain | 2023 NonDividend Distributions | 2023 199A Dividends(1) | ||
| 12/12/2022 | 1/1/2023 | 1/15/2023 | $0.4921875 | – | – | – | – | $0.4921875 | – | ||
| 3/09/2023 | 4/1/2023 | 4/15/2023 | $0.4921875 | – | – | – | – | $0.4921875 | – | ||
| 6/06/2023 | 7/1/2023 | 7/15/2023 | $0.4921875 | – | – | – | – | $0.4921875 | – | ||
| 9/11/2023 | 10/1/2023 | 10/15/2023 | $0.4921875 | – | – | – | – | $0.4921875 | – | ||
| Totals | $1.9687500 | – | – | – | – | $1.9687500 | – | ||||
The Company’s dividend distributions per share of 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (CUSIP #649604865) 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 | 2023 Distribution Per Share | 2023 Ordinary Dividend | 2023 Qualified Dividend | 2023 Capital Gain Distribution | 2023 Unrecaptured Section 1250 Gain | 2023 NonDividend Distributions | 2023 199A Dividends(1) | ||
| 12/12/2022 | 1/1/2023 | 1/15/2023 | $0.4296875 | – | – | – | – | $0.4296875 | – | ||
| 3/09/2023 | 4/1/2023 | 4/15/2023 | $0.4296875 | – | – | – | – | $0.4296875 | – | ||
| 6/06/2023 | 7/1/2023 | 7/15/2023 | $0.4296875 | – | – | – | – | $0.4296875 | – | ||
| 9/11/2023 | 10/1/2023 | 10/15/2023 | $0.4296875 | – | – | – | – | $0.4296875 | – | ||
| Totals | $1.7187500 | – | – | – | – | $1.7187500 | – | ||||
The Company’s dividend distributions per share of 7.000% Series G Cumulative Redeemable Preferred Stock (CUSIP #649604857) 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 | 2023 Distribution Per Share | 2023 Ordinary Dividend | 2023 Qualified Dividend | 2023 Capital Gain Distribution | 2023 Unrecaptured Section 1250 Gain | 2023 NonDividend Distributions | 2023 199A Dividends(1) | ||
| 12/12/2022 | 1/1/2023 | 1/15/2023 | $0.437500 | – | – | – | – | $0.437500 | – | ||
| 3/09/2023 | 4/1/2023 | 4/15/2023 | $0.437500 | – | – | – | – | $0.437500 | – | ||
| 6/06/2023 | 7/1/2023 | 7/15/2023 | $0.437500 | – | – | – | – | $0.437500 | – | ||
| 9/11/2023 | 10/1/2023 | 10/15/2023 | $0.437500 | – | – | – | – | $0.437500 | – | ||
| Totals | $1.750000 | – | – | – | – | $1.750000 | – | ||||
(1) Section 199A Dividends, if any, 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.
NYMT 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
AT THE COMPANY
Investor Relations
Phone: 212-792-0107
Email: InvestorRelations@nymtrust.com
