Walter Investment Management Corp. Announces 2009 Dividend Tax Information
TAMPA, Fla., Feb. 1 /PRNewswire-FirstCall/ -- Walter Investment Management Corp. (NYSE Amex: WAC) ("Walter Investment" or the "Company") today announced tax information regarding its dividend distributions for 2009.
Shareholders should review the 2009 tax statements they receive from their brokerage firms to ensure the Walter Investment dividend information reported in those statements conforms to the information set forth below. Furthermore, shareholders should consult their tax advisors to determine the amount of taxes that should be paid on Walter Investment's dividend distributions.
As a REIT, Walter Investment's dividends are generally not eligible for the tax rate reductions enacted for certain types of dividend income under the Jobs and Growth Tax Relief Reconciliation Act of 2003. Thus, the portion of Walter Investment's dividends that are characterized as ordinary income generally will be taxed at full ordinary income rates. No portion of Walter Investment's 2009 dividend distributions consisted of "excess inclusion" income subject to the specialized tax reporting rules applicable to such income. For stockholders that are corporations, Walter Investment's dividends are not eligible for the corporate dividends-received deduction.
The information provided is for informational purposes only and should not be relied upon as tax advice.
As each shareholder's tax situation may be different and each dividend distribution may have its own separate tax status, the table below provides the detailed tax information for each of Walter Investment's dividends for 2009:
Walter Investment's Common Stock: (CUSIP 93317W102)
2009 Total 2009 2009
Declaration Distribution Ordinary Return
Date Record Date Payable Date Per Share Income of Capital
----------- ----------- ------------ ------------ -------- ----------
8/5/2009 8/19/2009 8/31/2009 $0.50 $0.50 $-
11/5/2009 11/18/2009 11/30/2009 $0.50 $0.50 $-
12/15/2009 12/31/2009 1/20/2010 $0.50 $0.50 $-
Because Walter Investment is a REIT, dividends declared in the last month of a calendar year with a record date in that calendar year, but which are payable in January of the following year, are considered paid for Form 1099 reporting purposes on the record date, not on the payable date, to the extent the REIT has any remaining undistributed earnings and profits (as computed for income tax purposes) as of December 31 of that calendar year. These amounts are treated for income tax purposes as 2009 distributions to Walter Investment shareholders to whom the distributions were payable in January 2010.
About Walter Investment Management Corp.
Walter Investment Management Corp. is an asset manager, mortgage servicer and mortgage portfolio owner specializing in subprime, non-conforming and other credit-challenged mortgage assets. Based in Tampa, Fla., the Company currently has $1.8 billion of assets under management and annualized revenues of approximately $190 million. The Company is structured as a real estate investment trust ("REIT") and employs approximately 215 people. For more information about Walter Investment Management Corp., please visit the Company's website at www.walterinvestment.com.
Safe Harbor Statement
Certain statements in this release and in our public documents to which we refer, contain or incorporate by reference "forward-looking" statements as defined in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Walter Investment Management Corp. is including this cautionary statement to make applicable and take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements that are not historical fact are forward-looking statements. Words such as "expect," "believe," "anticipate," "project," "estimate," "forecast," "objective," "plan," "goal" and similar expressions are intended to identify forward looking statements. Forward-looking statements are based on the Company's current belief, intentions and expectations; however, forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results, performance or achievements, to differ materially from those reflected in the statements made or incorporated in this release. Thus, these forward-looking statements are not guarantees of future performance and should not be relied upon as predictions of future events. These risks and uncertainties are contained in Walter Investment Management Corp.'s Registration Statement on Form S-11 dated September 22, 2009, as amended October 8, 2009 and October 16, 2009 and Walter Investment Management Corp.'s other filings with the Securities and Exchange Commission.
In particular (but not by way of limitation), the following important factors and assumptions could affect the Company's future results and could cause actual results to differ materially from those expressed in the forward-looking statements: local, regional, national and global economic trends and developments in general, and local, regional and national real estate and residential mortgage market trends and developments in particular; the availability of suitable qualifying investments for the proceeds of the Company's recent secondary offering and risks associated with any such investments that we may pursue; the availability of additional investment capital and suitable qualifying investments and risks associated with any future expansion of our business activities; limitations imposed on the Company's business due to its REIT status and the Company's continued qualification as a REIT for Federal Income Tax Purposes; financing sources and availability, and future interest expense; fluctuations in interest rates and levels of mortgage prepayments; increases in costs and other general competitive factors; natural disasters and adverse weather conditions, especially to the extent they result in material payouts under insurance policies placed with our captive insurance subsidiary; changes in federal, state and local policies, laws and regulations affecting our business, including, without limitation, mortgage financing or servicing, and/or the rights and obligations of property owners, mortgagees and tenants; the effectiveness of risk management strategies; unexpected losses resulting from pending, threatened or unforeseen litigation or other third party claims against the Company; the ability or willingness of Walter Energy, Inc., the Company's former parent and other counterparties to satisfy its/their material obligations under its/their agreements with the Company; the Company's continued listing on the NYSE Amex; uninsured losses or losses in excess of insurance limits and the availability of adequate insurance coverage at reasonable costs; the integration of the former Hanover Capital Mortgage Holdings, Inc. business into that of Walter Investment Management, LLC and its affiliates (the "Merger"), and the realization of anticipated synergies, cost savings and growth opportunities from the Merger; future performance generally; and other presently unidentified factors.
All forward looking statements set forth herein are qualified by these cautionary statements and are made only as of February 1, 2010. The Company undertakes no obligation to update or revise the information contained herein, including without limitation any forward-looking statements whether as a result of new information, subsequent events or circumstances, or otherwise, unless otherwise required by law.
SOURCE Walter Investment Management Corp.
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