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Stock impact report

Ellington Financial Announces REIT Conversion and Closing of Exchange Offer

Ellington Financial Inc. (EFC) 
Last ellington financial inc. earnings: 2/12 04:44 pm Check Earnings Report
US:NYSE Investor Relations: ir.ellingtonfinancial.com
Company Research Source: Business Wire
OLD GREENWICH, Conn.--(BUSINESS WIRE)-- Ellington Financial LLC (NYSE: EFC) ("Ellington Financial" or the "Company") announced today that it plans to elect to be taxed as a REIT for U.S. federal income tax purposes for the taxable year ending December 31, 2019. To facilitate this planned election, it has elected to be taxed as a corporation for U.S. federal income tax purposes effective as of January 1, 2019. “I am excited that we completed our tax conversion from a publicly traded partnership,” said Laurence Penn, Chief Executive Officer and President. “Our tax reporting to investors will be greatly simplified as a REIT, which should expand our investor base and greatly improve the liquidity of our stock." The Company will issue a final Schedule K-1 to shareholders who held shares in 2018. For 2019, the Company will issue a Form 1099 to shareholders reporting all dividends paid. The Show less Read more
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