Rithm Capital Corp. Announces Treatment of 2023 Taxable Dividends

By: Rithm Capital Corp. via Business Wire

January 29, 2024 at 17:00 PM EST

Rithm Capital Corp. (NYSE:RITM, “Rithm Capital” or the “Company”) today announced the tax treatment of its common and preferred stock dividends deemed taxable in 2023.

Common Stock Dividends

During 2023, taxable dividends for Rithm Capital’s common stock (CUSIP #64828T201) were approximately $1.25000 per share. The following table summarizes the tax treatment for common stock distributions.

	Record	Pay		Ordinary	Qualified	Section 199A	Long-Term	Return of
	Date	Date⁽¹⁾	Form	Dividend	Dividend⁽²⁾	Dividend⁽³⁾	Capital Gain	Capital	Total
Q4’22	12/30/22	01/27/23	Cash	$0.25000	$0.00000	$0.25000	$0.00000	$0.00000	$0.25000
Q1’23	03/31/23	04/28/23	Cash	$0.25000	$0.00000	$0.25000	$0.00000	$0.00000	$0.25000
Q2’23	07/03/23	07/28/23	Cash	$0.25000	$0.00000	$0.25000	$0.00000	$0.00000	$0.25000
Q3’23	09/29/23	10/27/23	Cash	$0.25000	$0.00000	$0.25000	$0.00000	$0.00000	$0.25000
Q4’23	12/29/23	01/26/24	Cash	$0.25000	$0.00000	$0.25000	$0.00000	$0.00000	$0.25000

7.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (“Series A”) Dividends

During 2023, taxable dividends for Rithm Capital’s Series A preferred stock (CUSIP #64828T300) were approximately $1.87500 per share. The following table summarizes the tax treatment for the 2023 Series A preferred stock distributions.

	Record	Pay		Ordinary	Qualified	Section 199A	Long-Term	Return of
	Date	Date⁽¹⁾	Form	Dividend	Dividend⁽²⁾	Dividend⁽³⁾	Capital Gain	Capital	Total
Q4’22	01/13/23	02/15/23	Cash	$0.46875	$0.00000	$0.46875	$0.00000	$0.00000	$0.46875
Q1’23	04/14/23	05/15/23	Cash	$0.46875	$0.00000	$0.46875	$0.00000	$0.00000	$0.46875
Q2’23	07/17/23	08/15/23	Cash	$0.46875	$0.00000	$0.46875	$0.00000	$0.00000	$0.46875
Q3’23	10/16/23	11/15/23	Cash	$0.46875	$0.00000	$0.46875	$0.00000	$0.00000	$0.46875

7.125% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (“Series B”) Dividends

During 2023, taxable dividends for Rithm Capital’s Series B preferred stock (CUSIP #64828T409) were approximately $1.78124 per share. The following table summarizes the tax treatment for the 2023 Series B preferred stock distributions.

	Record	Pay		Ordinary	Qualified	Section 199A	Long-Term	Return of
	Date	Date⁽¹⁾	Form	Dividend	Dividend⁽²⁾	Dividend⁽³⁾	Capital Gain	Capital	Total
Q4’22	01/13/23	02/15/23	Cash	$0.44531	$0.00000	$0.44531	$0.00000	$0.00000	$0.44531
Q1’23	04/14/23	05/15/23	Cash	$0.44531	$0.00000	$0.44531	$0.00000	$0.00000	$0.44531
Q2’23	07/17/23	08/15/23	Cash	$0.44531	$0.00000	$0.44531	$0.00000	$0.00000	$0.44531
Q3’23	10/16/23	11/15/23	Cash	$0.44531	$0.00000	$0.44531	$0.00000	$0.00000	$0.44531

6.375% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (“Series C”) Dividends

During 2023, taxable dividends for Rithm Capital’s Series C preferred stock (CUSIP #64828T508) were approximately $1.59376 per share. The following table summarizes the tax treatment for the 2023 Series C preferred stock distributions.

	Record	Pay		Ordinary	Qualified	Section 199A	Long-Term	Return of
	Date	Date⁽¹⁾	Form	Dividend	Dividend⁽²⁾	Dividend⁽³⁾	Capital Gain	Capital	Total
Q4’22	01/13/23	02/15/23	Cash	$0.39844	$0.00000	$0.39844	$0.00000	$0.00000	$0.39844
Q1’23	04/14/23	05/15/23	Cash	$0.39844	$0.00000	$0.39844	$0.00000	$0.00000	$0.39844
Q2’23	07/17/23	08/15/23	Cash	$0.39844	$0.00000	$0.39844	$0.00000	$0.00000	$0.39844
Q3’23	10/16/23	11/15/23	Cash	$0.39844	$0.00000	$0.39844	$0.00000	$0.00000	$0.39844

7.00% Series D Fixed Rate Reset Cumulative Redeemable Preferred Stock (“Series D”) Dividends

During 2023, taxable dividends for Rithm Capital’s Series D preferred stock (CUSIP #64828T706) were approximately $1.75000 per share. The following table summarizes the tax treatment for the 2023 Series D preferred stock distributions.

	Record	Pay		Ordinary	Qualified	Section 199A	Long-Term	Return of
	Date	Date⁽¹⁾	Form	Dividend	Dividend⁽²⁾	Dividend⁽³⁾	Capital Gain	Capital	Total
Q4’22	01/13/23	02/15/23	Cash	$0.43750	$0.00000	$0.43750	$0.00000	$0.00000	$0.43750
Q1’23	04/14/23	05/15/23	Cash	$0.43750	$0.00000	$0.43750	$0.00000	$0.00000	$0.43750
Q2’23	07/17/23	08/15/23	Cash	$0.43750	$0.00000	$0.43750	$0.00000	$0.00000	$0.43750
Q3’23	10/16/23	11/15/23	Cash	$0.43750	$0.00000	$0.43750	$0.00000	$0.00000	$0.43750

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 Rithm Capital.

(1)		The Q4’22 and Q4’23 common distributions are being treated as received by stockholders and taxable in 2023.
(2)		The Q4’23 preferred distribution is being treated as received by stockholders and taxable in 2024.
(3)		Qualified Dividend is a subset of, and included in, the Ordinary Dividend amount.
(4)		Section 199A Dividend is a subset of, and included in, the Ordinary Dividend amount.

ABOUT RITHM CAPITAL

Rithm Capital is a global asset manager focused on real estate, credit, and financial services. Rithm makes direct investments and operates several wholly-owned operating businesses. Rithm’s businesses include Sculptor Capital Management, an alternative asset manager, as well as Newrez LLC and Genesis Capital LLC, leading mortgage origination and servicing platforms. Rithm Capital seeks to generate attractive risk-adjusted returns across market cycles and interest rate environments. Since inception in 2013, Rithm has delivered approximately $5 billion in dividends to shareholders. Rithm is organized and conducts its operations to qualify as a real estate investment trust (REIT) for federal income tax purposes and is headquartered in New York City.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240129318620/en/

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Rithm Capital Corp. Announces Treatment of 2023 Taxable Dividends

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