Newcastle Announces Tax Treatment of 2014 Dividends
NEW YORK--(BUSINESS WIRE)-- Newcastle Investment Corp. (NYSE:NCT, “Newcastle”) today announced the tax treatment of its 2014 common and preferred stock distribution payments.
Common Stock Dividends
During 2014, Newcastle’s common stock was listed under three CUSIPs:
- CUSIP #65105M108 through the effective date on August 18, 2014 of Newcastle’s 3-for-1 reverse stock split of its common stock
- CUSIP #65105M504 from August 19, 2014 through the effective date on October 22, 2014 of Newcastle’s 2-for-1 reverse stock split of its common stock
- CUSIP #65105M603 as of October 23, 2014
The following tables summarize the tax treatment for the 2014 common stock dividend payments.
2014 Actual Common Stock Dividend Distributions
The information provided below for the dividends paid on the common stock for the fourth quarter 2013 to second quarter 2014 has not been adjusted for Newcastle’s 3-for-1 reverse stock split in August 2014 and 2-for-1 reverse stock split in October 2014. The dividend paid on the common stock for the third quarter 2014 has not been adjusted for Newcastle’s 2-for-1 reverse stock split in October 2014.
CUSIP |
Record |
Pay Date | Distribution | Form |
Ordinary |
Qualified |
Long-Term |
Return of |
|||||||||||||||||||||||
#65105M108 | |||||||||||||||||||||||||||||||
4Q13(2) | 12/30/13 | 01/31/14 | 0.100000 | Cash | 0.032637 | 0.000305 | 0.007569 | 0.059794 | |||||||||||||||||||||||
NEWM(3) | 02/06/14 | 02/13/14 | 0.890000 | Stock | 0.290468 | 0.002710 | 0.067368 | 0.532164 | |||||||||||||||||||||||
1Q14 | 03/25/14 | 04/30/14 | 0.100000 | Cash | 0.032637 | 0.000305 | 0.007569 | 0.059794 | |||||||||||||||||||||||
2Q14 | 06/24/14 | 07/31/14 | 0.100000 | Cash | 0.032637 | 0.000305 | 0.007569 | 0.059794 | |||||||||||||||||||||||
#65105M504 | |||||||||||||||||||||||||||||||
3Q14 | 09/29/14 | 10/31/14 | 0.300000 | Cash | 0.097910 | 0.000913 | 0.022708 | 0.179382 | |||||||||||||||||||||||
#65105M603 | |||||||||||||||||||||||||||||||
SNR(4) | 10/27/14 | 11/06/14 | 18.020000 | Stock | 5.881151 | 0.054871 | 1.364006 | 10.774843 | |||||||||||||||||||||||
(1) |
Qualified Dividend is a subset of, and included in, the Ordinary Dividend amount. |
|
(2) |
The entire 4Q13 common stock distribution payment is being treated as received by stockholders in 2014. |
|
(3) |
Represents the February 13, 2014 common stock distribution of New Media Investment Group Inc.’s common shares. |
|
(4) |
Represents the November 6, 2014 common stock distribution of New Senior Investment Group Inc.’s common shares. |
|
2014 Split-Adjusted Common Stock Dividend Distributions
The information provided below for the dividends paid on the common stock for the fourth quarter 2013 to second quarter 2014 has been adjusted for Newcastle’s 3-for-1 reverse stock split in August 2014 and 2-for-1 reverse stock split in October 2014. The dividend paid on the common stock for the third quarter 2014 has been adjusted for Newcastle’s 2-for-1 reverse stock split in October 2014.
Record |
Pay Date | Distribution | Form |
Ordinary |
Qualified |
Long-Term |
Return of |
||||||||||||||||||||||||
4Q13(2) | 12/30/13 | 01/31/14 | 0.600000 | Cash | 0.195822 | 0.001830 | 0.045414 | 0.358764 | |||||||||||||||||||||||
NEWM(3) | 02/06/14 | 02/13/14 | 5.340000 | Stock | 1.742808 | 0.016260 | 0.404208 | 3.192984 | |||||||||||||||||||||||
1Q14 | 03/25/14 | 04/30/14 | 0.600000 | Cash | 0.195822 | 0.001830 | 0.045414 | 0.358764 | |||||||||||||||||||||||
2Q14 | 06/24/14 | 07/31/14 | 0.600000 | Cash | 0.195822 | 0.001830 | 0.045414 | 0.358764 | |||||||||||||||||||||||
3Q14 | 09/29/14 | 10/31/14 | 0.600000 | Cash | 0.195822 | 0.001830 | 0.045414 | 0.358764 | |||||||||||||||||||||||
SNR(4) | 10/27/14 | 11/06/14 | 18.020000 | Stock | 5.881151 | 0.054871 | 1.364006 | 10.774843 | |||||||||||||||||||||||
Total | 25.760000 |
Cash / Stock |
8.407247 | 0.078451 | 1.949870 | 15.402883 | |||||||||||||||||||||||||
(1) |
Qualified Dividend is a subset of, and included in, the Ordinary Dividend amount. |
|
(2) |
The entire 4Q13 common stock distribution payment is being treated as received by stockholders in 2014. |
|
(3) |
Represents the February 13, 2014 common stock distribution of New Media Investment Group Inc.’s common shares. |
|
(4) |
Represents the November 6, 2014 common stock distribution of New Senior Investment Group Inc.’s common shares. |
|
Series B Preferred Stock Dividends
During 2014, taxable dividends for Newcastle's Series B preferred stock (CUSIP# 65105M207) were $2.437500 per share. The following table summarizes the tax treatment for the 2014 Series B preferred stock distribution payments.
Record |
Pay Date |
Cash |
Ordinary |
Qualified |
Long-Term |
Return of |
||||||||||||||||
4Q13(2) | 12/30/13 | 01/31/14 | 0.609375 | 0.563249 | 0.001856 | 0.046126 | 0.000000 | |||||||||||||||
1Q14 | 03/25/14 | 04/30/14 | 0.609375 | 0.563249 | 0.001856 | 0.046126 | 0.000000 | |||||||||||||||
2Q14 | 06/24/14 | 07/31/14 | 0.609375 | 0.563249 | 0.001856 | 0.046126 | 0.000000 | |||||||||||||||
3Q14 | 09/29/14 | 10/31/14 | 0.609375 | 0.563249 | 0.001856 | 0.046126 | 0.000000 | |||||||||||||||
Total | 2.437500 | 2.252996 | 0.007424 | 0.184504 | 0.000000 | |||||||||||||||||
(1) |
Qualified Dividend is a subset of, and included in, the Ordinary Dividend amount. |
|
(2) |
The entire 4Q13 Series B preferred stock distribution payment is being treated as received by stockholders in 2014. |
|
Series C Preferred Stock Dividends
During 2014, taxable dividends for Newcastle's Series C preferred stock (CUSIP# 65105M306) were $2.012500 per share. The following table summarizes the tax treatment for the 2014 Series C preferred stock distribution payments.
Record |
Pay Date |
Cash |
Ordinary
|
Qualified |
Long-Term |
Return |
||||||||||||||||
4Q13(2) | 12/30/13 | 01/31/14 | 0.503125 | 0.465041 | 0.001532 | 0.038084 | 0.000000 | |||||||||||||||
1Q14 | 03/25/14 | 04/30/14 | 0.503125 | 0.465041 | 0.001532 | 0.038084 | 0.000000 | |||||||||||||||
2Q14 | 06/24/14 | 07/31/14 | 0.503125 | 0.465041 | 0.001532 | 0.038084 | 0.000000 | |||||||||||||||
4Q14 | 09/29/14 | 10/31/14 | 0.503125 | 0.465041 | 0.001532 | 0.038084 | 0.000000 | |||||||||||||||
Total | 2.012500 | 1.860164 | 0.006128 | 0.152336 | 0.000000 | |||||||||||||||||
(1) |
Qualified Dividend is a subset of, and included in, the Ordinary Dividend amount. |
|
(2) |
The entire 4Q13 Series C preferred stock distribution payment is being treated as received by stockholders in 2014. |
|
Series D Preferred Stock Dividends
During 2014, taxable dividends for Newcastle's Series D preferred stock (CUSIP# 65105M405) were $2.093752 per share. The following table summarizes the tax treatment for the 2014 Series D preferred stock distribution payments.
Record |
Pay Date |
Cash |
Ordinary |
Qualified
|
Long-Term |
Return of |
||||||||||||||||
4Q13(2) | 12/30/13 | 01/31/14 | 0.523438 | 0.483817 | 0.001594 | 0.039621 | 0.000000 | |||||||||||||||
1Q14 | 03/25/14 | 04/30/14 | 0.523438 | 0.483817 | 0.001594 | 0.039621 | 0.000000 | |||||||||||||||
2Q14 | 06/24/14 | 07/31/14 | 0.523438 | 0.483817 | 0.001594 | 0.039621 | 0.000000 | |||||||||||||||
3Q14 | 09/29/14 | 10/31/14 | 0.523438 | 0.483817 | 0.001594 | 0.039621 | 0.000000 | |||||||||||||||
Total | 2.093752 | 1.935268 | 0.006376 | 0.158484 | 0.000000 | |||||||||||||||||
(1) |
Qualified Dividend is a subset of, and included in, the Ordinary Dividend amount. |
|
(2) |
The entire 4Q13 Series D preferred stock distribution payment is being treated as received by stockholders in 2014. |
|
THE FOLLOWING INFORMATION APPLIES TO (1) TAX-EXEMPT STOCKHOLDERS, (2) NON-U.S. STOCKHOLDERS, AND (3) U.S. STOCKHOLDERS WITH NET OPERATING LOSSES:
Of the amounts indicated above as taxable for 2014, 0.4942% may be classified as “excess inclusion income.” Excess inclusion income is treated as unrelated business taxable income for tax-exempt stockholders, and is generally subject to a 30% U.S. Federal withholding tax (without reduction under any otherwise applicable tax treaty) for non-U.S. stockholders. U.S. stockholders may not use net operating losses to offset excess inclusion income. Please consult your tax advisor regarding the proper tax treatment of excess inclusion income.
The data 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 any issues or decisions regarding the proper tax treatment of their shares of Newcastle.
ABOUT NEWCASTLE
Newcastle focuses on investing in, and actively managing, real estate related assets. Newcastle conducts its operations to qualify as a REIT for federal income tax purposes. Newcastle is managed by an affiliate of Fortress Investment Group LLC, a global investment management firm.
Newcastle Investment Corp.
Investor Relations, 212-479-3195
Source: Newcastle Investment Corp.
Released January 30, 2015