New York Mortgage Trust Announces Tax Treatment of 2022 Dividend Distributions


NEW YORK, Jan. 30, 2023 (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 2022. 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 2022 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 2022 dividends that are treated as excess inclusion income for federal income tax purposes. No portion of the Company's 2022 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.

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

    Box 1aBox 1bBox 2aBox 2bBox 3Box 5
Declaration
Date
Record
Date
Payment
Date
2022
Distribution
Per Share
2022
Ordinary
Dividend
2022
Qualified
Dividend
2022
Capital Gain
Distribution
2022
Unrecaptured
Section 1250 Gain
2022
Non Dividend
Distributions

2022
199A Dividends(1)
3/14/20223/24/20224/25/2022$0.100000$0.036342---$0.063658$0.036342
6/17/20226/27/20227/25/2022$0.100000$0.036342---$0.063658$0.036342
9/16/20229/26/202210/26/2022$0.100000$0.036342---$0.063658$0.036342
12/12/202212/27/20221/26/2023$0.100000$0.036342---$0.063658$0.036342
Totals$0.400000$0.145368---$0.254632$0.145368
        

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 1aBox 1bBox 2aBox 2bBox 3Box 5
Declaration
Date
Record
Date
Payment
Date
2022
Distribution
Per Share
2022
Ordinary
Dividend
2022
Qualified
Dividend
2022
Capital Gain
Distribution
2022
Unrecaptured
Section 1250 Gain
2022
Non Dividend
Distributions
2022
199A Dividends(1)
12/13/20211/1/20221/15/2022$0.500000$0.500000----$0.500000
3/14/20224/1/20224/15/2022$0.500000$0.500000----$0.500000
6/17/20227/1/20227/15/2022$0.500000$0.500000----$0.500000
9/16/202210/1/202210/15/2022$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:

    Box 1aBox 1bBox 2aBox 2bBox 3Box 5
Declaration
Date
Record
Date
Payment
Date
2022
Distribution
Per Share
2022
Ordinary
Dividend
2022
Qualified
Dividend
2022
Capital Gain
Distribution
2022
Unrecaptured
Section 1250 Gain
2022
NonDividend
Distributions
2022
199A Dividends(1)
12/13/20211/1/20221/15/2022$0.4921875$0.4921875----$0.4921875
3/14/20224/1/20224/15/2022$0.4921875$0.4921875----$0.4921875
6/17/20227/1/20227/15/2022$0.4921875$0.4921875----$0.4921875
9/16/202210/1/202210/15/2022$0.4921875$0.4921875----$0.4921875
Totals$1.9687500$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 1aBox 1bBox 2aBox 2bBox 3Box 5
Declaration
Date
Record
Date
Payment
Date
2022
Distribution
Per Share
2022
Ordinary
Dividend
2022
Qualified
Dividend
2022
Capital Gain
Distribution
2022
Unrecaptured
Section 1250 Gain
2022
NonDividend
Distributions
2022
199A Dividends(1)
12/13/20211/1/20221/15/2022$0.4296875$0.4296875----$0.4296875
3/14/20224/1/20224/15/2022$0.4296875$0.4296875----$0.4296875
6/17/20227/1/20227/15/2022$0.4296875$0.4296875----$0.4296875
9/16/202210/1/202210/15/2022$0.4296875$0.4296875----$0.4296875
Totals$1.7187500$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 1aBox 1bBox 2aBox 2bBox 3Box 5
Declaration
Date
Record
Date
Payment
Date
2022
Distribution
Per Share
2022
Ordinary
Dividend
2022
Qualified
Dividend
2022
Capital Gain
Distribution
2022
Unrecaptured
Section 1250 Gain
2022
Non Dividend
Distributions
2022
199A Dividends (1)
12/13/20211/1/20221/15/2022$0.247920 (2)$0.247920----$0.247920
3/14/20224/1/20224/15/2022$0.437500$0.437500----$0.437500
6/17/20227/1/20227/15/2022$0.437500$0.437500----$0.437500
9/16/202210/1/202210/15/2022$0.437500$0.437500----$0.437500
Totals$1.560420$1.560420----$1.560420
         

(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.

(2) Series G Preferred Stock was initially issued on November 17, 2021 and this amount represents the initial dividend paid on January 15, 2022.

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
AT THE COMPANY
Investor Relations
Phone: 212-792-0107
Email: InvestorRelations@nymtrust.com