Granite Point Mortgage Trust Inc. Announces 2024 Dividend Tax Information
NEW YORK--(BUSINESS WIRE)--January 30, 2025--
$Granite Point Mortgage Trust Inc.(GPMT-A)$ (NYSE: GPMT) ("GPMT," "Granite Point" or the "Company") today announced the tax treatment of common and preferred stock dividends declared in 2024. This information is provided to assist stockholders with tax reporting requirements related to dividend distribution of taxable income by Granite Point. Stockholders should review the 2024 tax statements received from their brokerage firms or other institutions to ensure that the statements agree with the information provided below. Additionally, as each stockholder's tax situation may be different, stockholders are encouraged to consult with their own professional tax advisor with respect to their individual tax consequences.
Tax Treatment of the Distributions
The Federal income tax classification of Granite Point's 2024 common and preferred stock distributions as it is expected to be reported on Form 1099-DIV is set forth in the following tables.
Granite Point is required to report the portion of its 2024 dividends that are treated as excess inclusion income for federal income tax purposes, which may be treated as unrelated business taxable income (UBTI) and subject to special tax reporting for certain tax-exempt investors. No portion of Granite Point's 2024 dividend distributions consist of excess inclusion income.
Box 1a
2024 FORM 1099 -- Common Stock (CUSIP #38741L107) Total Box 1b Total Box 2a Total Box 3 Total Box 5 Total
----------------------------------------------------------------------------------- --------- ------------ ------------- ------------- ------------
2024 Total 2024 2024 2024 Capital 2024 2024 Section
Distribution Declaration Payable Distribution Ordinary Qualified Gain Nondividend 199A
Type Date Record Date Date Per Share Adjustments Dividends Dividends(3) Distributions Distributions Dividends(4)
------------- ------------ ----------- ----------- ------------ -------------- --------- ------------ ------------- ------------- ------------
Cash 12/19/2023 12/29/2023 1/16/2024 $0.000000 $0.200000(1) $0.000000 $0.000000 $0.000000 $0.200000 $0.000000
------------- ------------ ----------- ----------- ------------ -------------- --------- ------------ ------------- ------------- ------------
Cash 3/14/2024 4/1/2024 4/15/2024 $0.150000 $0.000000 $0.000000 $0.000000 $0.000000 $0.150000 $0.000000
------------- ------------ ----------- ----------- ------------ -------------- --------- ------------ ------------- ------------- ------------
Cash 6/18/2024 7/1/2024 7/15/2024 $0.050000 $0.000000 $0.000000 $0.000000 $0.000000 $0.050000 $0.000000
------------- ------------ ----------- ----------- ------------ -------------- --------- ------------ ------------- ------------- ------------
Cash 9/20/2024 10/1/2024 10/15/2024 $0.050000 $0.000000 $0.000000 $0.000000 $0.000000 $0.050000 $0.000000
------------- ------------ ----------- ----------- ------------ -------------- --------- ------------ ------------- ------------- ------------
Cash 12/19/2024 12/31/2024 1/15/2025 $0.050000 $(0.050000)(2) $0.000000 $0.000000 $0.000000 $0.000000 $0.000000
------------- ------------ ----------- ----------- ------------ -------------- --------- ------------ ------------- ------------- ------------
Totals $0.300000 $0.150000 $0.000000 $0.000000 $0.000000 $0.450000 $0.000000
----------------------------------------------------- ------------ -------------- --------- ------------ ------------- ------------- ------------
(1) Pursuant to Section 857(b)(9) of the Internal Revenue Code of 1986, as amended (the "IRC"), cash distributions made on January 16, 2024, with a
record date of December 29, 2023, are treated as received by stockholders on December 31, 2023, to the extent of 2023 earnings and profits. As Granite
Point's aggregate 2023 cash distributions exceeded its 2023 earnings and profits, the January 2024 cash distribution declared in the fourth quarter of
2023 is treated as a 2024 distribution for federal income tax purposes and was not included on the 2023 Form 1099. If you were a stockholder of record
as of December 29, 2023, the $0.200000 dividend payable on January 16, 2024, is reported on your 2024 Form 1099.
(2) Pursuant to Section 857(b)(9) of the IRC, cash distributions made on January 15, 2025, with a record date of December 31, 2024, are treated as
received by stockholders on December 31, 2024, to the extent of 2024 earnings and profits. As Granite Point's aggregate 2024 cash distributions exceeded
its 2024 earnings and profits, the January 2025 cash distribution declared in the fourth quarter of 2024 is treated as a 2025 distribution for federal
income tax purposes and is not included on the 2024 Form 1099. If you were a stockholder of record as of December 31, 2024, the $0.050000 dividend
payable on January 15, 2025, will be reported on your 2025 Form 1099.
(3) Qualified Dividends shows the portion of the amount in Box 1a that may be eligible for capital gains tax rates.
(4) Section 199A Dividends shows the portion of the amount in Box 1a that may be eligible for the 20% qualified business income deduction under Section
199.
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Box 1a
2024 FORM 1099 -- Preferred Series A (CUSIP #38741l305) Total Box 1b Total Box 2a Total Box 3 Total Box 5 Total
----------------------------------------------------------------------------------- --------- ------------ ------------- ------------- ------------
2024 Total 2024 2024 2024 Capital 2024 2024 Section
Distribution Declaration Payable Distribution Ordinary Qualified Gain Nondividend 199A
Type Date Record Date Date Per Share Adjustments Dividends Dividends(3) Distributions Distributions Dividends(4)
------------- ------------ ----------- ----------- ------------ -------------- --------- ------------ ------------- ------------- ------------
Cash 12/19/2023 12/29/2023 1/16/2024 $0.000000 $0.437500(1) $0.000000 $0.000000 $0.000000 $0.437500 $0.000000
------------- ------------ ----------- ----------- ------------ -------------- --------- ------------ ------------- ------------- ------------
Cash 3/14/2024 4/1/2024 4/15/2024 $0.437500 $0.000000 $0.000000 $0.000000 $0.000000 $0.437500 $0.000000
------------- ------------ ----------- ----------- ------------ -------------- --------- ------------ ------------- ------------- ------------
Cash 6/18/2024 7/1/2024 7/15/2024 $0.437500 $0.000000 $0.000000 $0.000000 $0.000000 $0.437500 $0.000000
------------- ------------ ----------- ----------- ------------ -------------- --------- ------------ ------------- ------------- ------------
Cash 9/20/2024 10/1/2024 10/15/2024 $0.437500 $0.000000 $0.000000 $0.000000 $0.000000 $0.437500 $0.000000
------------- ------------ ----------- ----------- ------------ -------------- --------- ------------ ------------- ------------- ------------
Cash 12/19/2024 12/31/2024 1/15/2025 $0.437500 $(0.437500)(2) $0.000000 $0.000000 $0.000000 $0.000000 $0.000000
------------- ------------ ----------- ----------- ------------ -------------- --------- ------------ ------------- ------------- ------------
Totals $1.750000 $0.000000 $0.000000 $0.000000 $0.000000 $1.750000 $0.000000
----------------------------------------------------- ------------ -------------- --------- ------------ ------------- ------------- ------------
(1) Pursuant to Section 857(b)(9) of the IRC, cash distributions made on January 16, 2024, with a record date of December 29, 2023, are treated as
received by stockholders on December 31, 2023, to the extent of 2023 earnings and profits. As Granite Point's aggregate 2023 cash distributions exceeded
its 2023 earnings and profits, the January 2024 cash distribution declared in the fourth quarter of 2023 is treated as a 2024 distribution for federal
income tax purposes and was not included on the 2023 Form 1099. If you were a stockholder of record as of December 29, 2023, the $0.437500 dividend
payable on January 16, 2024, is reported on your 2024 Form 1099.
(2) Pursuant to Section 857(b)(9) of the IRC, cash distributions made on January 15, 2025, with a record date of December 31, 2024, are treated as
received by stockholders on December 31, 2024, to the extent of 2024 earnings and profits. As Granite Point's aggregate 2024 cash distributions exceeded
its 2024 earnings and profits, the January 2025 cash distribution declared in the fourth quarter of 2024 is treated as a 2025 distribution for federal
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