Anworth Mortgage Asset Corporation (NYSE: ANH), a real estate
investment trust (REIT), announced today the following tax
treatment regarding its dividend distributions for the Company’s
fiscal year ended December 31, 2020.
Generally, the portion of Anworth’s dividends that are
characterized as ordinary income will be taxed at full ordinary
income rates. However, for our 2020 fiscal year, none of our
dividends are treated as ordinary income. For stockholders that are
corporations, Anworth’s dividends are not eligible for the
corporate dividends-received deduction.
Stockholders should check the tax statements they receive from
brokerage firms to ensure that the Anworth dividend information
reported in those statements conforms to the information reported
herein. Effective in 2018, the Tax Cuts and Jobs Act generally
allows for a 20% deduction of REIT dividends treated as ordinary
income. However, for our 2020 fiscal year, we did not have any REIT
dividends treated as ordinary income. As each stockholder’s tax
situation may be different, and each dividend distribution may have
its own separate tax status, stockholders are encouraged to consult
their tax advisors to determine the taxes that should be paid on
Anworth’s dividend distributions.
The tables below provide detailed tax information relating to
the quarterly dividend distributions paid to Anworth’s stockholders
with respect to the 2020 tax year:
8.625% Series A Cumulative
Preferred Stock (CUSIP 037347 20 0)
2020
Total
2020
2020
Short-Term Declaration Record Payable
Distribution Ordinary Return of Capital
Carry-Over Date Date Date Per
Share income Capital Gains to 2021
11/06/19 12/31/19 01/15/20
$
0.539063
$
-
$
0.539063
$
-
$
-
02/27/20 03/31/20 04/15/20
0.539063
-
0.539063
-
-
05/06/20 06/30/20 07/15/20
0.539063
-
0.539063
-
-
08/05/20 09/30/20 10/15/20
0.539063
-
0.539063
-
-
11/05/20 12/30/20 01/15/21
0.539063
-
-
-
0.539063
Total:
$
2.695315
$
-
$
2.156252
$
-
$
0.539063
6.25% Series B Cumulative Convertible Preferred Stock
(CUSIP 037347 30 9)
2020
Total
2020
2020
Short-Term Declaration Record Payable
Distribution Ordinary Return of Capital
Carry-Over Date Date Date Per
Share(1) income Capital Gains to
2021 11/06/19 12/31/19 01/15/20
$
0.393469
$
-
$
0.393469
$
-
$
-
02/27/20 03/31/20 04/15/20
0.390710
-
0.390710
-
-
05/06/20 06/30/20 07/15/20
0.390789
-
0.390789
-
-
08/05/20 09/30/20 10/15/20
0.392057
-
0.392057
-
-
11/05/20 12/30/20 01/15/21
0.390625
-
-
-
0.390625
Total:
$
1.957650
$
-
$
1.567025
$
-
$
0.390625
________________________________
(1)
The Series B Preferred Stock is convertible into shares of our
common stock. The conversion rate is adjusted per a stated formula
when distributions are made to our common stockholders. The value
of any conversion rate increase is a deemed distribution for tax
purposes and is taxable to holders of our Series B Preferred Stock
to the extent supported by earnings and profits and is included in
the table above. See Forms 8937 on our Company website for
additional details.
7.625% Series C Cumulative
Redeemable Preferred Stock (CUSIP 037347 40 8)
2020
Total
2020
2020
Short-Term Declaration Record Payable
Distribution Ordinary Return of Capital
Carry-Over Date Date Date Per
Share income Capital Gains to 2021
11/06/19 12/31/19 01/15/20
$
0.476563
$
-
$
0.476563
$
-
$
-
02/27/20 03/31/20 04/15/20
0.476563
-
0.476563
-
-
05/06/20 06/30/20 07/15/20
0.476563
-
0.476563
-
-
08/05/20 09/30/20 10/15/20
0.476563
-
0.476563
-
-
11/05/20 12/30/20 01/15/21
0.476563
-
-
-
0.476563
Total:
$
2.382815
$
-
$
1.906252
$
-
$
0.476563
Common Stock (CUSIP 037347 10
1)
2020
Total
2020
2020
Short-Term Declaration Record Payable
Distribution Ordinary Return of Capital
Carry-Over Date Date Date Per
Share income Capital Gains to 2021
12/17/19 12/31/19 01/29/20
$
0.090000
$
-
$
0.090000
$
-
$
-
04/21/20 05/12/20 05/29/20
0.050000
-
0.050000
-
-
06/16/20 06/30/20 07/29/20
0.050000
-
0.050000
-
-
09/16/20 09/30/20 10/29/20
0.050000
-
0.050000
-
-
12/16/20 12/31/20 01/29/21
0.050000
-
-
-
0.050000
Total:
$
0.290000
$
-
$
0.240000
$
-
$
0.050000
Because Anworth is a REIT, dividends declared in October,
November, or December of a calendar year with a record date in that
calendar year, but which are payable in January of the following
year, are considered paid for Form 1099 reporting purposes on the
record date, not on the payable date, to the extent the REIT has
any remaining undistributed earnings and profits (as computed for
income tax purposes) as of December 31 of that calendar year. The
amounts shown above that were declared in the fourth quarter of
2020 but not paid until January 2021 represent the per share amount
of the distributions paid which exceeded Anworth’s undistributed
earnings and profits for income tax purposes as of December 31,
2020 and which were not included in the 2020 tax year but were
carried over to 2021 as ordinary income for income tax
purposes.
Dividends may be reinvested through Anworth’s Dividend
Reinvestment Plan. Plan information may be obtained from the Plan
Administrator, American Stock Transfer and Trust Company, at
877-248-6410, on Anworth’s web site at http://www.anworth.com, or
by contacting Anworth at 310-255-4493.
About Anworth Mortgage Asset Corporation
We are an externally-managed mortgage real estate investment
trust (“REIT”). We invest primarily in mortgage-backed securities
that are either rated “investment grade” or are guaranteed by
federally sponsored enterprises, such as Fannie Mae or Freddie Mac.
We seek to generate income for distribution to our shareholders
primarily based on the difference between the yield on our mortgage
assets and the cost of our borrowings. We are managed by Anworth
Management LLC (our “Manager”), pursuant to a management agreement.
Our Manager is subject to the supervision and direction of our
Board and is responsible for (i) the selection, purchase, and sale
of our investment portfolio; (ii) our financing and hedging
activities; and (iii) providing us with portfolio management,
administrative, and other services and activities relating to our
assets and operations as may be appropriate. Our common stock is
traded on the New York Stock Exchange under the symbol “ANH.”
Anworth Mortgage Asset Corporation is a component of the Russell
2000® Index.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995
This news release may contain forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are based upon our current expectations and speak only
as of the date hereof. Forward-looking statements, which are based
on various assumptions (some of which are beyond our control) may
be identified by reference to a future period or periods or by the
use of forward-looking terminology, such as “may,” “will,”
“believe,” “expect,” “anticipate,” “assume,” “estimate,” “intend,”
“continue,” or other similar terms or variations on those terms or
the negative of those terms. Our actual results may differ
materially and adversely from those expressed in any
forward-looking statements as a result of various factors and
uncertainties, including but not limited to, changes in interest
rates; changes in the market value of our mortgage-backed
securities; changes in the yield curve; the availability of
mortgage-backed securities for purchase; increases in the
prepayment rates on the mortgage loans securing our mortgage-backed
securities; our ability to use borrowings to finance our assets
and, if available, the terms of any financing; risks associated
with investing in mortgage-related assets; the scope and duration
of the COVID-19 (coronavirus) pandemic, including actions taken by
governmental authorities to contain the spread of the virus, and
the impact on our business and the general economy; changes in
business conditions and the general economy; implementation of or
changes in government regulations affecting our business; our
ability to maintain our qualification as a real estate investment
trust for federal income tax purposes; our ability to maintain an
exemption from the Investment Company Act of 1940, as amended;
risks associated with our home rental business; and our Manager’s
ability to manage our growth. Our Annual Report on Form 10-K and
other SEC filings discuss the most significant risk factors that
may affect our business, results of operations and financial
condition. We undertake no obligation to revise or update publicly
any forward-looking statements for any reason.
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version on businesswire.com: https://www.businesswire.com/news/home/20210202005980/en/
Anworth Mortgage Asset Corporation John T. Hillman 1299 Ocean
Avenue, 2nd Floor Santa Monica, CA 90401 (310) 255-4438 or (310)
255-4493 Email: jhillman@anworth.com Web site:
http://www.anworth.com
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