Ellington Credit Company Announces the Income Tax Treatment of its 2024 Distributions
OLD GREENWICH, Conn.--(BUSINESS WIRE)--January 31, 2025--
Ellington Credit Company (NYSE: EARN) (the "Company") today announced that information regarding the federal income tax treatment of the distributions deemed paid in 2024 on the Company's common shares has been posted to the Company's website, at https://www.ellingtoncredit.com/dividend-and-tax-information. The Company operated as a taxable C-Corp throughout all of 2024.
About Ellington Credit Company
Ellington Credit Company, formerly known as Ellington Residential Mortgage REIT, was initially formed as a real estate investment trust ("REIT") that invested primarily in residential mortgage-backed securities ("MBS"). On March 29, 2024, the Company's Board of Trustees approved a strategic transformation of its investment strategy to focus on corporate CLOs, with an emphasis on mezzanine debt and equity tranches. In connection with this transformation, the Company revoked its election to be taxed as a REIT (and therefore to be taxed as a C-Corp) effective January 1, 2024, and rebranded to Ellington Credit Company. At a special meeting of shareholders held on January 17, 2025, shareholders approved the Company's conversion to a Delaware registered closed-end fund to be treated as a regulated investment company under the Internal Revenue Code (the "Conversion"). The Company intends to complete the Conversion in early 2025.
Ellington Credit Company is externally managed and advised by Ellington Credit Company Management LLC, an affiliate of Ellington Management Group, L.L.C.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250131627658/en/
CONTACT:
Investors:
Ellington Credit Company
Investor Relations
(203) 409-3773
info@earnreit.com
or
Media:
Amanda Shpiner/Grace Cartwright
Gasthalter & Co.
for Ellington Credit Company
(212) 257-4170
Ellington@gasthalter.com
(END) Dow Jones Newswires
January 31, 2025 16:19 ET (21:19 GMT)
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