NEW YORK, Feb. 20 /PRNewswire-FirstCall/ -- New York Mortgage Trust, Inc. (BULLETIN BOARD: NMTR) ("NYMT" or the "Company") announced today the tax treatment of the dividends paid in 2007 on its common stock.
During 2007, taxable dividends for New York Mortgage Trust's common stock were $0.10 per share. The Company's common stock is currently listed under the CUSIP #6496042044 and trades under the OTC BB ticker symbol NMTR. For tax reporting purposes, the 2007 taxable dividend will be classified as follows: $0.00 as ordinary income and $0.10 as a return of capital. The following table contains this information on a quarterly basis:
Cash Short-term Taxable Return Declaration Record Payment Distribution Capital Ordinary of Date Date Date per share Gain Dividend Capital 03/14/07 04/09/07 04/26/07 $0.05 $0.00 $0.00 $0.05 12/18/06 01/05/07 01/26/07 $0.05 $0.00 $0.00 $0.05 Total 2007 Cash Distribution $0.10 $0.00 $0.00 $0.10 About New York Mortgage Trust
New York Mortgage Trust, Inc. is a self-advised real estate investment trust (REIT) engaged in the investment management of mortgage-backed securities (MBS) and high credit quality residential adjustable rate mortgage (ARM) loans. As of March 31, 2007, the Company exited the mortgage lending business. As a REIT, the Company is not subject to federal income tax, provided that it distributes at least 90% of its REIT income to stockholders.
Forward-Looking Statements
Certain statements contained in this press release may be deemed to be forward-looking statements that predict or describe future events or trends. The matters described in these forward-looking statements are subject to known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond the Company's control. The Company faces many risks that could cause its actual performance to differ materially from the results predicted by its forward-looking statements, including, without limitation, that a rise in interest rates may cause a decline in the market value of the Company's assets, prepayment rates may change, borrowings to finance the purchase of assets may not be available or may not be available on favorable terms, the Company may not be able to maintain its qualification as a REIT for federal tax purposes, the Company may become affected by the risks associated with investing in mortgage loans, including changes in loan delinquencies, and the Company's hedging strategies may not be effective. The reports that the Company files with the Securities and Exchange Commission contain a fuller description of these and many other risks to which the Company is subject. Because of those risks, the Company's actual results, performance or achievements may differ materially from the results, performance or achievements contemplated by its forward-looking statements. The information set forth in this news release represents management's current expectations and intentions. The Company assumes no responsibility to issue updates to the forward-looking matters discussed in this press release.
