Ellington Residential Mortgage REIT Announces Tax Treatment of 2017 Distributions
Shareholders should review their Forms 1099 as well as other 2017 tax statements that they will receive from their brokerage firms or other institutions to ensure that the statements agree with the information provided below. Additionally, shareholders are encouraged to consult with their own professional tax advisors with respect to their individual tax consequences.
According to the Internal Revenue Code of 1986 ("the Code"), if a Real
Estate Investment Trust ("REIT") declares dividends in the last three
months of a calendar year, with a record date in that calendar year, but
which are payable in the first month of the following year, such
dividends are considered paid for the recipient's tax and Form 1099
reporting purposes on the record date and not on the payable date, to
the extent of the REIT’s remaining undistributed earnings and profits
(as computed for income tax purposes) as of the last day of that
calendar year. The Company declared a dividend in
Thus, during 2017, the Company paid total distributions of
|Record Date||Payable Date||
1 Reported as nondividend distributions on Form 1099.
During 2017, the Company did not generate qualified dividend income (QDI). Further, no portion of the Company's 2017 dividend distributions is expected to consist of unrelated business taxable income (UBTI), which is subject to special tax reporting for certain tax exempt investors, or excess inclusion income.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are not
historical in nature and can be identified by words such as
"anticipate," "estimate," "will," "should," "may," "expect," "project,"
"believe," "intend," "seek," "plan" and similar expressions or their
negative forms, or by references to strategy, plans, or intentions. For
example, our results can fluctuate from month to month and quarter to
quarter depending on a variety of factors, some of which are beyond our
control and/or difficult to predict, including, without limitation,
changes in interest rates, changes in default rates and prepayment
speeds, and other changes in market and economic conditions.
Forward-looking statements involve numerous risks and uncertainties. Our
actual results may differ from our beliefs, expectations, estimates, and
projections and, consequently, you should not rely on these
forward-looking statements as predictions of future events. Furthermore,
forward-looking statements are subject to risks and uncertainties,
including, among other things, those described under Item 1A to the
Company's Annual Report on Form 10-K filed on
Investor: Maria Cozine, Vice President of Investor Relations, (203)
409-3773 or firstname.lastname@example.org;
Media: Amanda Klein or Kevin Fitzgerald, Gasthalter & Co., for Ellington Residential Mortgage REIT, (212) 257-4170 or Ellington@gasthalter.com.