MITT AG Mortgage Investment Trust Inc

AG Mortgage Investment Trust, Inc. (NYSE: MITT) (the “Company”) announced today the tax treatment of common and preferred stock distributions paid to stockholders. This information is provided to assist stockholders with tax reporting requirements related to distributions of taxable income by the Company.

Stockholders should review the 2023 tax statements and/or Form 1099-DIV received from their brokerage firms or other institutions to ensure those statements agree with the information provided below. Also, as each stockholder’s tax situation may be different, stockholders are encouraged to consult with their professional tax advisor with respect to their individual tax reporting positions regarding the Company’s distributions.

AG Mortgage Investment Trust, Inc. Common Stock

The Company's distributions per share on its common stock (CUSIP #001228501) are to be classified for income tax purposes as detailed in the below table. The Company’s common stock distribution paid on January 31, 2023 to holders of record on December 30, 2022 will be treated as a 2023 distribution for tax purposes. The common stock distribution paid on January 31, 2024 to holders of record on December 29, 2023 as well as $0.01 per share of the common stock distribution paid on January 2, 2024 to holders of record on November 30, 2023 will be treated as 2024 distributions for tax purposes.

Record Date

Payable

Date

2023

Distribution

Per Share

2023

Ordinary

Dividends

2023

Qualified

Dividends (1)

2023 Return

of Capital

2023

Capital

Gains

2023 Section

199A

Dividends (1)

12/30/2022

1/31/2023

$0.18

$0.18

$0.00

$0.00

$0.00

$0.18

3/31/2023

4/28/2023

$0.18

$0.18

$0.00

$0.00

$0.00

$0.18

6/30/2023

7/31/2023

$0.18

$0.18

$0.00

$0.00

$0.00

$0.18

9/29/2023

10/31/2023

$0.18

$0.18

$0.00

$0.00

$0.00

$0.18

11/3/2023

11/8/2023

$0.08

$0.08

$0.00

$0.00

$0.00

$0.08

11/30/2023(2)

1/2/2024

$0.04

$0.04

$0.00

$0.00

$0.00

$0.04

Totals

$0.84

$0.84

$0.00

$0.00

$0.00

$0.84

(1)

 

Qualified Dividends and Section 199A Dividends are a subset of, and included in, the Ordinary Dividends amount.

(2)

 

Of the $0.05 per share common stock distribution paid on January 2, 2024, $0.04 per share will be treated as 2023 distributions for tax purposes. The remaining $0.01 per share will be treated as 2024 distributions for tax purposes and therefore is excluded from the table above and will not be included on the Form 1099-DIV for 2023.

AG Mortgage Investment Trust, Inc. Preferred Stock

The Company’s distributions per share on its Series A 8.25% Cumulative Redeemable Preferred Stock (CUSIP #001228204) are to be classified for income tax purposes as follows:

Record

Date

Payable

Date

2023

Distribution

Per Share

2023

Ordinary

Dividends

2023

Qualified

Dividends (1)

2023 Return

of Capital

2023

Capital

Gains

2023 Section

199A

Dividends (1)

2/28/2023

3/17/2023

$0.51563

$0.51563

$0.00

$0.00

$0.00

$0.51563

5/31/2023

6/20/2023

$0.51563

$0.51563

$0.00

$0.00

$0.00

$0.51563

8/31/2023

9/18/2023

$0.51563

$0.51563

$0.00

$0.00

$0.00

$0.51563

11/30/2023

12/18/2023

$0.51563

$0.51563

$0.00

$0.00

$0.00

$0.51563

Totals

$2.06252

$2.06252

$0.00

$0.00

$0.00

$2.06252

(1)

 

Qualified Dividends and Section 199A Dividends are a subset of, and included in, the Ordinary Dividends amount.

The Company’s distributions per share on its Series B 8.00% Cumulative Redeemable Preferred Stock (CUSIP #001228303) are to be classified for income tax purposes as follows:

Record

Date

Payable

Date

2023

Distribution

Per Share

2023

Ordinary

Dividends

2023

Qualified

Dividends (1)

2023 Return

of Capital

2023

Capital

Gains

2023 Section

199A

Dividends (1)

2/28/2023

3/17/2023

$0.50

$0.50

$0.00

$0.00

$0.00

$0.50

5/31/2023

6/20/2023

$0.50

$0.50

$0.00

$0.00

$0.00

$0.50

8/31/2023

9/18/2023

$0.50

$0.50

$0.00

$0.00

$0.00

$0.50

11/30/2023

12/18/2023

$0.50

$0.50

$0.00

$0.00

$0.00

$0.50

Totals

$2.00

$2.00

$0.00

$0.00

$0.00

$2.00

(1)

 

Qualified Dividends and Section 199A Dividends are a subset of, and included in, the Ordinary Dividends amount.

The Company’s distributions per share on its Series C 8.000% Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (CUSIP #001228402) are to be classified for income tax purposes as follows:

Record

Date

Payable

Date

2023

Distribution

Per Share

2023

Ordinary

Dividends

2023

Qualified

Dividends (1)

2023 Return

of Capital

2023

Capital

Gains

2023 Section

199A

Dividends (1)

2/28/2023

3/17/2023

$0.50

$0.50

$0.00

$0.00

$0.00

$0.50

5/31/2023

6/20/2023

$0.50

$0.50

$0.00

$0.00

$0.00

$0.50

8/31/2023

9/18/2023

$0.50

$0.50

$0.00

$0.00

$0.00

$0.50

11/30/2023

12/18/2023

$0.50

$0.50

$0.00

$0.00

$0.00

$0.50

Totals

$2.00

$2.00

$0.00

$0.00

$0.00

$2.00

(1)

 

Qualified Dividends and Section 199A Dividends are a subset of, and included in, the Ordinary Dividends amount.

Western Asset Mortgage Capital Corporation Distributions

On December 6, 2023, the Company completed the acquisition of Western Asset Mortgage Capital Corporation (“WMC”), a publicly traded REIT. Distributions paid to common stockholders of WMC during 2023 prior to December 6, 2023 are classified for income tax purposes as return of capital. WMC stockholders should review the 2023 tax statements and/or Form 1099-DIV received from their brokerage firms or other institutions. As each stockholder’s tax situation may be different, stockholders are encouraged to consult with their professional tax advisor with respect to their individual tax reporting positions regarding WMC distributions.

The information provided in this press release is provided for informational purposes only and does not constitute tax advice. Stockholders are urged to consult their own tax advisors regarding the particular consequences of the distributions to them, including the applicability and effect of U.S. federal, state, local and foreign tax laws.

About AG Mortgage Investment Trust, Inc.

AG Mortgage Investment Trust, Inc. is a residential mortgage REIT with a focus on investing in a diversified risk-adjusted portfolio of residential mortgage-related assets in the U.S. mortgage market. AG Mortgage Investment Trust, Inc. is externally managed and advised by AG REIT Management, LLC, a subsidiary of Angelo, Gordon & Co., L.P., a diversified credit and real estate investing platform within TPG.

Additional information can be found on the Company’s website at www.agmit.com.

About TPG Angelo Gordon

Founded in 1988, Angelo, Gordon & Co., L.P. (“TPG Angelo Gordon”) is a diversified credit and real estate investing platform within TPG. The platform currently manages approximately $76 billion* across a broad range of credit and real estate strategies. For more information, visit www.angelogordon.com.

*TPG Angelo Gordon’s currently stated assets under management (“AUM”) of approximately $76 billion as of September 30, 2023 reflects fund-level asset-related leverage. Prior to May 15, 2023, TPG Angelo Gordon calculated its AUM as net assets under management excluding leverage, which resulted in TPG Angelo Gordon AUM of approximately $53 billion as of December 31, 2022. The difference reflects a change in TPG Angelo Gordon’s AUM calculation methodology and not any material change to TPG Angelo Gordon’s investment advisory business. For a description of the factors TPG Angelo Gordon considers when calculating AUM, please see the disclosure at www.angelogordon.com/disclaimers/.

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AG Mortgage Investment Trust, Inc.

Investor Relations 212-692-2110 ir@agmit.com