KKR Real Estate Finance Trust Inc. Tax Treatment of 2023 Dividends
January 01, 2024 at 03:16 am IST
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KKR Real Estate Finance Trust Inc. (the “Company” or “KREF”) (NYSE: KREF) today announced the tax treatment of its 2023 common stock and 6.50% Series A Cumulative Redeemable Preferred Stock (the “Series A Preferred Stock”) dividends. The following table summarizes KKR Real Estate Finance Trust Inc.’s common stock and Series A Preferred Stock dividend payments for the tax year ended December 31, 2023:
Tax Treatment of 2023 Common Stock Dividends
Record Date
Payment Date
Cash Distribution
Adjustment
Total Distribution
Ordinary Dividends(1)
Qualified Dividends
Capital Gain Dividends
Return of Capital
December 30, 2022
January 13, 2023
$0.43
($0.25)
(2)
$0.18
$0.16463
$0.00000
$0.00000
$0.01537
March 31, 2023
April 14, 2023
$0.43
$0.00
$0.43
$0.39329
$0.00000
$0.00000
$0.03671
June 30, 2023
July 14, 2023
$0.43
$0.00
$0.43
$0.39329
$0.00000
$0.00000
$0.03671
September 29, 2023
October 13, 2023
$0.43
$0.00
$0.43
$0.39329
$0.00000
$0.00000
$0.03671
$1.72
($0.25)
$1.47
$1.34450
$0.00000
$0.00000
$0.12550
(1)
Ordinary dividends may be eligible for the 20% deduction applicable to “qualified REIT dividends” under IRC Section 199A(b)(1)(B). Stockholders are encouraged to consult with their own tax advisors as to their specific tax treatment of the Company's distributions.
(2)
The cash distribution of $0.43 per share of common stock (with a record date of December 30, 2022, that was paid on January 13, 2023) is a split-year distribution, of which $0.25 was allocable to 2022 for federal income tax purposes and the remaining $0.18 is allocable to 2023 for federal income tax purposes.
Tax Treatment of 2023 Series A Preferred Stock Dividends
Record Date
Payment Date
Cash Distribution
Adjustment
Dividend
Ordinary Dividends(1)
Qualified Dividends
Capital Gain Dividends
Return of Capital
February 28, 2023
March 15, 2023
$0.41
$0.00
$0.41
$0.40625
$0.00000
$0.00000
$0.00000
May 31, 2023
June 15, 2023
$0.41
$0.00
$0.41
$0.40625
$0.00000
$0.00000
$0.00000
August 31, 2023
September 15, 2023
$0.41
$0.00
$0.41
$0.40625
$0.00000
$0.00000
$0.00000
November 30, 2023
December 15, 2023
$0.41
$0.00
$0.41
$0.40625
$0.00000
$0.00000
$0.00000
$1.63
$0.00
$1.63
$1.62500
$0.00000
$0.00000
$0.00000
(1)
Ordinary dividends may be eligible for the 20% deduction applicable to “qualified REIT dividends” under IRC Section 199A(b)(1)(B). Stockholders are encouraged to consult with their own tax advisors as to their specific tax treatment of the Company's distributions.
About KKR Real Estate Finance Trust Inc.
KREF is a real estate finance company that focuses primarily on originating and acquiring senior loans secured by commercial real estate properties. KREF is externally managed and advised by an affiliate of KKR & Co. Inc. For additional information about KREF, please visit its website at www.kkrreit.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240131083110/en/
KKR Real Estate Finance Trust Inc. is a real estate investment trust. The Company primarily originates or acquires transitional senior loans collateralized by institutional-quality commercial real estate (CRE) assets that are owned and operated by sponsors and located in liquid markets with underlying fundamentals. The Company's target assets also include mezzanine loans, preferred equity and other debt-oriented instruments with these characteristics. The Company's investment objective is capital preservation and the generation of attractive risk-adjusted returns for its stockholders over the long term, primarily through dividends. Its portfolio of diversified investments consists of performing senior and mezzanine loans. It focuses on originating and acquiring senior loans that are secured by CRE properties and evidenced by a first-priority mortgage. The Company is externally managed by KKR Real Estate Finance Manager LLC, an indirect wholly owned subsidiary of KKR & Co. Inc.