{"id":394208,"date":"2020-12-07T08:03:25","date_gmt":"2020-12-07T13:03:25","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=394208"},"modified":"2020-12-07T08:03:25","modified_gmt":"2020-12-07T13:03:25","slug":"rmr-mortgage-trust-announces-regular-quarterly-distribution-to-common-shareholders-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/rmr-mortgage-trust-announces-regular-quarterly-distribution-to-common-shareholders-2\/","title":{"rendered":"RMR Mortgage Trust Announces Regular Quarterly Distribution to Common Shareholders"},"content":{"rendered":"

<\/p>\n

RMR Mortgage Trust Announces Regular Quarterly Distribution to Common Shareholders<\/b><\/p>\n

NEWTON, Mass.–(BUSINESS WIRE<\/a>)–RMR Mortgage Trust (Nasdaq: RMRM)<\/a> today announced its regular quarterly distribution to common shareholders. The distribution of $0.10 per common share will be paid on or about December 31, 2020 to holders of record of common shares as of the close of business on December 22, 2020. RMRM\u2019s distribution was approved by its Board of Trustees under RMRM\u2019s managed distribution policy in accordance with exemptive relief issued by the Securities and Exchange Commission.\n<\/p>\n

\nRMRM has also decided to retain any presently undistributed net long-term capital gains realized by RMRM in calendar year 2020 and to pay the required U.S. federal capital gains tax thereon. IRS Form 2439, Notice to Shareholders of Undistributed Long-Term Capital Gains, will be mailed to shareholders in February 2021.\n<\/p>\n

\nThe following table provides RMRM\u2019s estimated distribution sources for the distribution declared today on common shares for the quarter ending December 31, 2020 from the sources indicated pursuant to Section 19(a) of the Investment Company Act of 1940, as amended or the 1940 Act.\n<\/p>\n\n\n\n\n\n\n\n\n\n\n
\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\nQuarter\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\nYear to date\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n

\nPer Share\n<\/p>\n<\/td>\n

\n\n

\n% of\n<\/p>\n<\/td>\n

\n\n\n

\nPer Share\n<\/p>\n<\/td>\n

\n\n

\n% of\n<\/p>\n<\/td>\n<\/tr>\n

\n

Source<\/span><\/p>\n<\/td>\n

\n\n

\nAmount\n<\/p>\n<\/td>\n

\n\n

\nDistribution\n<\/p>\n<\/td>\n

\n\n\n

\nAmount\n<\/p>\n<\/td>\n

\n\n

\nDistribution\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet investment income\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n0.10\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n100.00%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n0.55\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n87.30%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet realized short term capital gains\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n0.00\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.00%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n0.00\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.00%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet realized long term capital gains\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n0.00\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.00%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n0.08\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n12.70%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nReturn of capital\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n0.00\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.00%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n0.00\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.00%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nTotal distribution\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n0.10\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n100.00%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n0.63\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n100.00%\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\nRMRM\u2019s net investment income is based on an estimate of the excess of cash distributions received from its investments less its operating expenses, interest expense and distributions to preferred shareholders for the periods presented. A substantial amount of RMRM\u2019s income was derived from investments in real estate investment trusts, or REITs, which generally will characterize distributions to their shareholders, including RMRM, as ordinary income, net capital gain or return of capital. However, it is not possible for RMRM to characterize distributions received from REITs during interim periods because the REIT issuers do not report the tax characterization of their distributions until subsequent to year end. Therefore, it is likely that some portion of RMRM\u2019s net investment income, and thus RMRM\u2019s distributions to its common shareholders estimated to be from net investment income, will be recharacterized as net capital gain and\/or return of capital subsequent to year end.\n<\/p>\n

\nYou should not draw any conclusions about the RMRM\u2019s investment performance from the amount of this distribution or from the terms of RMRM\u2019s managed distribution policy. The amounts and sources of distribution reported in this press release are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon RMRM\u2019s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. RMRM will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.\n<\/p>\n

RMRM Performance and Distribution Rate Information Based on Net Asset Value:<\/span><\/b><\/p>\n

\nRMRM\u2019s year to date cumulative total return for 2020 (January 1, 2020 through November 30, 2020) is set forth below. RMRM\u2019s average annual total return for the five-year period ending November 30, 2020 is also set forth below.\n<\/p>\n\n\n\n\n\n\n\n\n\n
\n

Year to date: January 1, 2020 to November 30, 2020<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

\nCumulative total return1<\/sup><\/p>\n<\/td>\n

\n

\n(19.81%)\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nCumulative distribution rate2<\/sup><\/p>\n<\/td>\n

\n

\n2.76%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

Five year period ending November 30, 2020<\/span><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nAverage annual total return3<\/sup><\/p>\n<\/td>\n

\n

\n1.62%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nCurrent annualized distribution rate4<\/sup><\/p>\n<\/td>\n

\n

\n2.09%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

    \n
  1. \nThe cumulative total return is the percentage change in net asset value, or NAV, per common share from the last completed fiscal year to the NAV per common share on the last day of the period indicated assuming distributions paid are reinvested at NAV per common share on the ex-dividend dates.\n<\/li>\n
  2. \nCumulative distribution rate is the cumulative distribution per common share declared in 2020 as of the date of this press release as a percentage of the NAV per common share as of November 30, 2020.\n<\/li>\n
  3. \nAverage annual total return is the annualized percentage change in NAV over the five year period ending November 30, 2020, assuming distributions paid are reinvested at NAV per common share on the ex-dividend dates.\n<\/li>\n
  4. \nThe current annualized distribution rate is the current annualized distribution rate as a percentage of the NAV per common share as of November 30, 2020.\n<\/li>\n<\/ol>\n

    \nPerformance results reflect past performance and are no guarantee of future results. Investment return and principal value of shares will fluctuate so that shares, when sold, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data quoted.\n<\/p>\n

    About RMR Mortgage Trust (Nasdaq: RMRM)<\/b><\/p>\n

    \nRMRM has historically operated as a closed end investment company advised by RMR Advisors LLC (the \u201cAdvisor\u201d). The Advisor is a wholly owned subsidiary of The RMR Group LLC, an alternative asset management company. The RMR Group LLC is the majority owned operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), which is headquartered in Newton, MA. On April 16, 2020, shareholders approved RMRM\u2019s conversion from a registered investment company to a commercial mortgage real estate investment trust and amended RMRM\u2019s fundamental investment policies and restrictions to permit RMRM to pursue its new business. RMRM is in the process of realigning its portfolio so that it is no longer an \u201cinvestment company\u201d under the Investment Company Act of 1940 (the \u201c1940 Act\u201d) and has applied to the Securities and Exchange Commission (the \u201cSEC\u201d) for an order under the 1940 Act declaring that RMRM has ceased to be a registered investment company (the \u201cDeregistration Order\u201d). RMRM is in the process of selling its existing equity securities investments and further transitioning its portfolio into commercial mortgage loans. If the SEC issues the Deregistration Order, the Board of Trustees anticipates RMRM would thereafter terminate its existing investment advisory agreement and enter into a new management agreement with an affiliate of its Advisor to provide day-to-day management.\n<\/p>\n

    WARNINGS REGARDING FORWARD-LOOKING STATEMENTS<\/b><\/p>\n

    \nThis press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. These forward-looking statements are based upon RMRM\u2019s present intent, beliefs and expectations, but forward-looking statements are not guaranteed to occur and may not occur for numerous reasons, some of which are beyond RMRM\u2019s control. For example:\n<\/p>\n