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Two Harbors Investment Corp. Announces 2023 Dividend Tax Information

Two Harbors Investment Corp. (NYSE: TWO), an MSR + Agency RMBS real estate investment trust, announced today the tax treatment of the company’s common stock and preferred stock dividends declared in 2023. This information is provided to assist stockholders with tax reporting requirements related to dividend distribution of taxable income by Two Harbors. Stockholders should review the 2023 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 Common and Preferred Distributions

Two Harbors is required to report the portion of its 2023 dividends that are treated as excess inclusion income for federal income tax purposes. No portion of the company’s 2023 dividend distributions are expected to consist of excess inclusion income, which may be treated as unrelated business taxable income (UBTI) and subject to special tax reporting for certain tax-exempt investors.

The company declared dividends with respect to its common stock and Series A, Series B and Series C preferred shares on December 19, 2022. The record date for the company’s common stock distribution was January 5, 2023, and the record date for the company’s Series A, Series B and Series C preferred distributions was January 12, 2023. Accordingly, these common and preferred distributions were treated as 2023 distributions for tax purposes and reported on the 2023 Form 1099-DIV. In addition, the company declared dividends with respect to its common stock and Series A, Series B and Series C preferred shares on December 18, 2023, with a record date of January 12, 2024. Accordingly, these common and preferred distributions will be treated as 2024 distributions for tax purposes and reported on the 2024 Form 1099-DIV.

Distributions for Two Harbors Investment Corp.

The federal income tax classification of the Two Harbors’ 2023 common and preferred stock distributions as it is expected to be reported on Form 1099-DIV is set forth in the following tables.

2023 FORM 1099-DIV – Common Stock

Box 1a Total

Box 1b Total

Box 2a Total

Box 3 Total

Box 5 Total

Distribution Type

Declaration Date

Record Date

Payable Date

2023 Total Distribution Per Share

Adjustments

2023 Ordinary Dividends

2023 Qualified Dividends(1)

2023 Capital Gain Distributions

2023 Nondividend Distributions

Section 199A Dividends(2)

Cash

12/19/2022

1/5/2023

1/27/2023

$0.600000

$0.000000

$0.600000

$0.158958

$0.000000

$0.000000

$0.441042

Cash

3/23/2023

4/4/2023

4/28/2023

$0.600000

$0.000000

$0.600000

$0.158958

$0.000000

$0.000000

$0.441042

Cash

6/21/2023

7/5/2023

7/28/2023

$0.450000

$0.000000

$0.450000

$0.119218

$0.000000

$0.000000

$0.330782

Cash

9/19/2023

10/3/2023

10/27/2023

$0.450000

$0.000000

$0.450000

$0.119218

$0.000000

$0.000000

$0.330782

Totals

 

 

 

$2.100000

$0.000000

$2.100000

$0.556352

$0.000000

$0.000000

$1.543648

(1) - Qualified Dividends shows the portion of the amount in Box 1a that may be eligible for capital gains tax rates

 

 

(2) - 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 199A

 

2023 FORM 1099-DIV – Preferred Series A

Box 1a Total

Box 1b Total

Box 2a Total

Box 3 Total

Box 5 Total

Distribution Type

Declaration Date

Record Date

Payable Date

2023 Total Distribution Per Share

Adjustments

2023 Ordinary Dividends

2023 Qualified Dividends(1)

2023 Capital Gain Distributions

2023 Nondividend Distributions

Section 199A Dividends(2)

Cash

12/19/2022

1/12/2023

1/27/2023

$0.507810

$0.000000

$0.507810

$0.134534

$0.000000

$0.000000

$0.373276

Cash

3/23/2023

4/12/2023

4/27/2023

$0.507810

$0.000000

$0.507810

$0.134534

$0.000000

$0.000000

$0.373276

Cash

6/21/2023

7/12/2023

7/27/2023

$0.507810

$0.000000

$0.507810

$0.134534

$0.000000

$0.000000

$0.373276

Cash

9/19/2023

10/12/2023

10/27/2023

$0.507810

$0.000000

$0.507810

$0.134534

$0.000000

$0.000000

$0.373276

Totals

 

 

 

$2.031240

$0.000000

$2.031240

$0.538136

$0.000000

$0.000000

$1.493104

(1) - Qualified Dividends shows the portion of the amount in Box 1a that may be eligible for capital gains tax rates

 

 

(2) - 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 199A

 

 

 

 

 

 

 

 

 

 

 

2023 FORM 1099-DIV – Preferred Series B

Box 1a Total

Box 1b Total

Box 2a Total

Box 3 Total

Box 5 Total

Distribution Type

Declaration Date

Record Date

Payable Date

2023 Total Distribution Per Share

Adjustments

2023 Ordinary Dividends

2023 Qualified Dividends(1)

2023 Capital Gain Distributions

2023 Nondividend Distributions

Section 199A Dividends(2)

Cash

12/19/2022

1/12/2023

1/27/2023

$0.476560

$0.000000

$0.476560

$0.126255

$0.000000

$0.000000

$0.350305

Cash

3/23/2023

4/12/2023

4/27/2023

$0.476560

$0.000000

$0.476560

$0.126255

$0.000000

$0.000000

$0.350305

Cash

6/21/2023

7/12/2023

7/27/2023

$0.476560

$0.000000

$0.476560

$0.126255

$0.000000

$0.000000

$0.350305

Cash

9/19/2023

10/12/2023

10/27/2023

$0.476560

$0.000000

$0.476560

$0.126255

$0.000000

$0.000000

$0.350305

Totals

 

 

 

$1.906240

$0.000000

$1.906240

$0.505020

$0.000000

$0.000000

$1.401220

(1) - Qualified Dividends shows the portion of the amount in Box 1a that may be eligible for capital gains tax rates

 

 

(2) - 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 199A

 

 

 

 

 

 

 

 

 

 

2023 FORM 1099-DIV – Preferred Series C

Box 1a Total

Box 1b Total

Box 2a Total

Box 3 Total

Box 5 Total

Distribution Type

Declaration Date

Record Date

Payable Date

2023 Total Distribution Per Share

Adjustments

2023 Ordinary Dividends

2023 Qualified Dividends(1)

2023 Capital Gain Distributions

2023 Nondividend Distributions

Section 199A Dividends(2)

Cash

12/19/2022

1/12/2023

1/27/2023

$0.453130

$0.000000

$0.453130

$0.120047

$0.000000

$0.000000

$0.333083

Cash

3/23/2023

4/12/2023

4/27/2023

$0.453130

$0.000000

$0.453130

$0.120047

$0.000000

$0.000000

$0.333083

Cash

6/21/2023

7/12/2023

7/27/2023

$0.453130

$0.000000

$0.453130

$0.120047

$0.000000

$0.000000

$0.333083

Cash

9/19/2023

10/12/2023

10/27/2023

$0.453130

$0.000000

$0.453130

$0.120047

$0.000000

$0.000000

$0.333083

Totals

 

 

 

$1.812520

$0.000000

$1.812520

$0.480188

$0.000000

$0.000000

$1.332332

(1) - Qualified Dividends shows the portion of the amount in Box 1a that may be eligible for capital gains tax rates

 

 

(2) - 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 199A

Consult Your Tax Advisor

Stockholders may have additional reporting obligations to the Internal Revenue Service and/or other tax authorities.

The U.S. federal income tax treatment of holding Two Harbors common and preferred stock to any particular stockholder will depend on the stockholder’s particular tax circumstances. You are urged to consult your tax advisor regarding the U.S. federal, state, local and foreign income and other tax consequences to you, in light of your particular investment or tax circumstances, of acquiring, holding and disposing of Two Harbors common and preferred stock.

Two Harbors does not provide tax, accounting or legal advice. Any tax statements contained herein were not intended or written to be used, and cannot be used for the purpose of avoiding U.S., federal, state or local tax penalties. Please consult your advisor as to any tax, accounting or legal statements made herein.

Two Harbors Investment Corp.

Two Harbors Investment Corp., a Maryland corporation, is a real estate investment trust that invests in residential mortgage-backed securities, mortgage servicing rights and other financial assets. Two Harbors is headquartered in St. Louis Park, MN.

Additional Information

Stockholders of Two Harbors and other interested persons may find additional information regarding the company at www.twoharborsinvestment.com, at the Securities and Exchange Commission’s Internet site at www.sec.gov or by directing requests to: Two Harbors Investment Corp., 1601 Utica Avenue South, Suite 900, St. Louis Park, MN, 55416, telephone (612) 453-4100.

Contacts

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