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.
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Contacts
MEDIA:
Miles Radcliffe-Trenner
(212) 750-8300
media@kkr.com
INVESTOR RELATIONS:
Jack Switala
(212) 763-9048
kref-ir@kkr.com
