NEW YORK--(BUSINESS WIRE)--Claros Mortgage Trust, Inc. (NYSE: CMTG) (the “Company” or “CMTG”) today announced the tax treatment of its 2023 common stock dividends. The following table summarizes CMTG’s common stock dividend payments per share for the tax year ended December 31, 2023:
Record Date |
Payment Date |
Cash Distribution |
Adjustment |
Dividend |
Ordinary Dividends(1) |
Qualified Dividends |
Capital Gain Dividends |
Non Dividend Distributions |
12/30/2022 |
1/13/2023 |
$0.00 |
$0.28 |
$0.28(2) |
$0.2754 |
$0.0000 |
$0.0000 |
$0.0000 |
3/31/2023 |
4/14/2023 |
$0.37 |
$0.00 |
$0.37 |
$0.1157 |
$0.0000 |
$0.0000 |
$0.2543 |
6/30/2023 |
7/14/2023 |
$0.37 |
$0.00 |
$0.37 |
$0.0000 |
$0.0000 |
$0.0000 |
$0.3700 |
9/29/2023 |
10/13/2023 |
$0.25 |
$0.00 |
$0.25 |
$0.0000 |
$0.0000 |
$0.0000 |
$0.2500 |
12/29/2023 |
1/12/2024 |
$0.25 |
($0.25) |
$0.00(3) |
$0.0000 |
$0.0000 |
$0.0000 |
$0.0000 |
|
|
$1.24 |
($0.03) |
$1.27 |
$0.3911 |
$0.0000 |
$0.0000 |
$0.8743 |
- Ordinary dividends that are “qualified REIT dividends” are eligible for the 20% deduction under IRC Section 199A(b)(1)(B). Shareholders are encouraged to consult with their own tax advisors as to their specific tax treatment of the Company’s distributions.
- As the Company’s aggregate 2022 dividends declared exceeded its 2022 earnings and profits, a portion of the January 2023 cash distribution declared in the fourth quarter of 2022 was treated as a 2023 distribution for federal income tax purposes and not included on the 2022 Form 1099. If you were a stockholder of record as of December 30, 2022, $0.28 is reported on your 2023 Form 1099 and $0.09 was reported on your 2022 Form 1099.
- Pursuant to IRC Section 857(b)(9), cash distributions made on January 12, 2024 with a record date of December 29, 2023 are treated as received by shareholders on December 31, 2023 to the extent of 2023 earnings and profits. As the Company’s aggregate 2023 dividends declared exceeded its 2023 earnings and profits, all of the January 2024 cash distribution declared in the fourth quarter of 2023 was treated as a 2024 distribution for federal income tax purposes and not included on the 2023 Form 1099. If you were a shareholder of record as of December 29, 2023, $0.00 is reported on your 2023 Form 1099 and $0.25 will be reported on your 2024 Form 1099.
About Claros Mortgage Trust, Inc.
CMTG is a real estate investment trust that is focused primarily on originating senior and subordinate loans on transitional commercial real estate assets located in major markets across the U.S. CMTG is externally managed and advised by Claros REIT Management LP, an affiliate of Mack Real Estate Credit Strategies, L.P. Additional information can be found on the Company’s website at www.clarosmortgage.com.
