Granite Point Mortgage Trust Inc. (NYSE: GPMT) today announced the tax treatment of common stock dividends declared in 2018. This information is provided to assist stockholders with tax reporting requirements related to dividend distribution of taxable income by Granite Point Mortgage Trust Inc. (“Granite Point”). Stockholders should review the 2018 tax statements received from their brokerage firms or other institutions to ensure that the statements agree with the information provided below. Additionally, as each stockholder’s tax situation may be different, stockholders are encouraged to consult with their own professional tax advisor with respect to their individual tax consequences.
Tax Treatment of the Distributions
The Federal income tax classification of the 2018 distributions as it is expected to be reported on Form 1099-DIV is set forth in the following table.
The company is required to report the portion of its 2018 dividends that are treated as excess inclusion income for federal income tax purposes. No portion of the company’s 2018 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.
| 2018 FORM 1099 – Common Stock | Box 1a | Box 2a Total | Box 3 Total | Box 5 Total | ||||||||||||||||||||
Distribution | Declaration | Record | Payable | 2018 Total | 2018 | 2018 Capital | 2018 | Section 199A | ||||||||||||||||
| Cash | 03/15/2018 | 03/29/2018 | 04/18/2018 | $0.380000 | $0.373704 | $0.006296 | $0.000000 | $0.373704 | ||||||||||||||||
| Cash | 06/20/2018 | 07/02/2018 | 07/18/2018 | $0.400000 | $0.393373 | $0.006627 | $0.000000 | $0.393373 | ||||||||||||||||
| Cash | 09/20/2018 | 10/02/2018 | 10/18/2018 | $0.420000 | $0.413041 | $0.006959 | $0.000000 | $0.413041 | ||||||||||||||||
| Cash | 12/19/2018 | 12/31/2018 | 01/18/2019 | $0.420000 | $0.413041 | $0.006959 | $0.000000 | $0.413041 | ||||||||||||||||
| Totals | $1.620000 | $1.593159 | $0.026841 | $0.000000 | $1.593159 | |||||||||||||||||||
Pursuant to the Internal Revenue Code of 1986, as amended, dividends declared by a real estate investment trust (REIT) during the last three months of a calendar year that are payable to stockholders of record on a specified date in such three month period, but which are actually paid during January of the following calendar year, are considered paid on December 31st of the calendar year in which the dividends were declared, to the extent of the REIT’s distributable earnings and profits.
Consult Your Tax Advisor
Stockholders may have additional
reporting obligations to the Internal Revenue Service and/or other tax
authorities.
The U.S. federal income tax treatment of holding Granite Point common stock to any particular stockholder will depend on the stockholder’s particular tax circumstances. You are urged to consult your tax advisor regarding the U.S. federal, state, local and foreign income and other tax consequences to you, in light of your particular investment or tax circumstances, of acquiring, holding and disposing of Granite Point common stock.
Granite Point 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. Please consult your advisor as to any tax, accounting or legal statements made herein.
About Granite Point Mortgage Trust Inc.
Granite Point
Mortgage Trust Inc. is a Maryland corporation focused on directly
originating, investing in and managing senior floating rate commercial
mortgage loans and other debt and debt-like commercial real estate
investments. Granite Point is headquartered in New York, NY, and is
externally managed by Pine River Capital Management L.P. Additional
information is available at www.gpmortgagetrust.com.
Additional Information
Stockholders of Granite Point and
other interested persons may find additional information regarding the
company at the Securities and Exchange Commission’s Internet site at www.sec.gov
or by directing requests to: Granite Point Mortgage Trust Inc., 590
Madison Avenue, 38th floor, New York, NY 10022, telephone
(212) 364-3200.
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