PASADENA, Calif., Jan. 28, 2020 /PRNewswire/ -- Western Asset
Mortgage Capital Corporation (the "Company") (NYSE: WMC) announced
today the tax treatment of its common stock dividends declared in
2019. The Company's 2019 dividend distributions on its common
stock consisted of 100% ordinary dividends for federal income tax
purposes.
The below information is provided to assist the Company's
stockholders with tax reporting requirements related to dividend
distribution of taxable income by the Company. Stockholders
should receive IRS Form 1099-DIV containing this information from
their brokers, transfer agents or other institutions. These
tax statements should be reviewed to ensure that they agree with
the information provided below.
Tax Treatment of Distributions
The Federal Income Tax classification of the 2019 dividend
distributions on the Company's common stock, as it is expected to
be reported on Form 1099-DIV, is set forth in the following
table:
|
Record
Date
|
Payment
Date
|
Distribution
Rate per
Share
|
Total
Ordinary
Dividends
|
Qualified
Dividends
|
Total Capital
Gains
Distributions
|
Section
199A
Dividends(3)
|
|
12/31/2019
|
1/24/2020
|
$0.31(1)
|
$0.31
|
-
|
-
|
$0.31
|
|
9/30/2019
|
10/25/2019
|
$0.31
|
$0.31
|
-
|
-
|
$0.31
|
|
7/1/2019
|
7/26/2019
|
$0.31
|
$0.31
|
-
|
-
|
$0.31
|
|
4/1/2019
|
4/26/2019
|
$0.31
|
$0.31
|
-
|
-
|
$0.31
|
|
12/31/2018
|
1/25/2019
|
$0.31(2)
|
$0.31
|
-
|
-
|
$0.31
|
|
Total
|
$1.55
|
$1.55
|
-
|
-
|
$1.55
|
|
|
|
(1)
|
The cash
distributions made on January 24, 2020 with a record date of
December 31, 2019 will have only 50% treated as received by
stockholders on December 31, 2019 and taxable in calendar year 2019
with the remaining 50% taxable in calendar year 2020.
|
|
(2)
|
The cash distribution
made on January 25, 2019 with a record date of December 31, 2018
are treated as received by stockholders on December 31, 2018 and
were therefore taxable in calendar year 2018.
|
|
(3)
|
Section 199A
dividends are a subset of, and included in, the ordinary dividends
amount.
|
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 The
Company's 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 the Company's common stock.
The Company 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 WESTERN ASSET MORTGAGE CAPITAL
CORPORATION
Western Asset Mortgage Capital Corporation is a
real estate investment trust that invests in, acquires and manages
a diverse portfolio of assets consisting of Agency CMBS, Agency
RMBS, Non-Agency CMBS, Non-Agency RMBS, Residential and Commercial
Whole-Loans, Bridge Loans and other financial assets. The Company's
investment strategy may change, subject to the Company's stated
investment guidelines, and is based on its manager Western Asset
Management Company's perspective of which mix of portfolio assets
it believes provides the Company with the best risk-reward
opportunities at any given time. The Company is externally managed
and advised by Western Asset Management Company, an investment
advisor registered with the Securities and Exchange Commission and
a wholly-owned subsidiary of Legg
Mason, Inc. Please visit the Company's website at
www.westernassetmcc.com.
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SOURCE Western Asset Mortgage Capital Corporation