Chicago Atlantic Real Estate Finance Announces Tax Reporting Information for 2025 Distributions

Rhea-AI Summary

Chicago Atlantic Real Estate Finance (NASDAQ: REFI) submitted 2025 year-end tax reporting details for its quarterly distributions. Each quarter paid a $0.47 cash distribution per share (record dates 3/31, 6/30, 9/30, 12/31/2025). Pursuant to IRC Section 857(b)(9), the Jan 15, 2026 payment is treated as received on 12/31/2025. Qualified dividends per share are reported as $0.00, while Section 199A dividends per share are $0.47, which may allow a 20% deduction for certain taxpayers. Stockholders are urged to consult tax advisors for individual treatment.

Positive

• Consistent quarterly cash distribution of $0.47 per share
• All 2025 distributions treated as 2025 income under IRC 857(b)(9)
• Section 199A dividends of $0.47 per share may allow 20% deduction

Negative

• Qualified dividends reported as $0.00 per share (no qualified dividend tax treatment)

News Market Reaction

+0.90%

1 alert

+0.90% News Effect

On the day this news was published, REFI gained 0.90%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Q1 2025 cash distribution: $0.47 per share Q2 2025 cash distribution: $0.47 per share Q3 2025 cash distribution: $0.47 per share +5 more

8 metrics

Q1 2025 cash distribution $0.47 per share Record date 3/31/2025; payment date 4/15/2025

Q2 2025 cash distribution $0.47 per share Record date 6/30/2025; payment date 7/15/2025

Q3 2025 cash distribution $0.47 per share Record date 9/30/2025; payment date 10/15/2025

Q4 2025 cash distribution $0.47 per share Record date 12/31/2025; payment date 1/15/2026

Qualified dividends per share $0.00 All four 2025 distributions

Section 199A dividends per share $0.47 Each 2025 distribution designated as Section 199A dividend

IRC Section 857(b)(9) Section 857(b)(9) Determines 1/15/2026 cash distribution treated as 2025 income

IRC Section 199A(b)(1)(B) Section 199A(b)(1)(B) Defines qualified REIT dividends potentially eligible for 20% deduction

Market Reality Check

Price: $12.40 Vol: Volume 86542 versus 20-da...

normal vol

$12.40 Last Close

Volume Volume 86542 versus 20-day average 123996 before this tax reporting update. normal

Technical Shares at 12.24, trading below 200-day MA of 13.48 and about 24.77% under the 52-week high.

Peers on Argus

REFI was down 0.89% while mortgage REIT peers showed mixed moves: MITT -1.34%, S...

REFI was down 0.89% while mortgage REIT peers showed mixed moves: MITT -1.34%, SEVN -0.58%, ACR -0.57%, but ACRE +0.20% and AOMR +0.22%, suggesting stock-specific factors rather than a uniform sector move.

Historical Context

5 past events · Latest: Jan 13 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 13	Investor event	Neutral	-0.4%	CEO participation in virtual fireside chat with Zuanic and Associates.
Dec 19	Dividend declaration	Positive	-1.4%	Declared regular Q4 2025 dividend of $0.47 per common share.
Nov 04	Earnings release	Positive	-1.3%	Reported Q3 2025 financial results and loan portfolio metrics.
Oct 17	Insider buying	Positive	+6.2%	Directors and officers purchased about 54,000 shares on the open market.
Oct 16	Earnings scheduling	Neutral	-2.0%	Announced Q3 2025 earnings release date and conference call details.

Pattern Detected

Positive fundamental or capital return news has sometimes seen negative next-day moves, while insider buying drew a stronger positive reaction.

Recent Company History

Recent news for REFI included a CEO fireside chat on Jan 13, 2026 with a modest -0.4% move, a Q4 $0.47 dividend declaration on Dec 19, 2025 with a -1.37% reaction, and Q3 2025 earnings on Nov 4, 2025 with a -1.3% move. Insider open‑market share purchases announced on Oct 17, 2025 coincided with a +6.18% reaction. The current tax reporting update fits into this pattern of regular distribution‑related disclosures.

Regulatory & Risk Context

Active S-3 Shelf · $452,114,647

Shelf Active

Active S-3 Shelf Registration 2026-01-16

$452,114,647 registered capacity

An effective S-3 shelf filed on 2026-01-16 allows REFI to offer up to $452,114,647 of securities, including equity and debt, via future prospectus supplements. The filing carries forward unsold securities from a prior $500,000,000 registration and had 0 recorded usage as of the latest context.

Market Pulse Summary

This announcement details year-end tax reporting for four $0.47 per-share distributions in 2025, cla...

Analysis

This announcement details year-end tax reporting for four $0.47 per-share distributions in 2025, clarifying that the January 15, 2026 payment is treated as 2025 income under IRC 857(b)(9) and designated as Section 199A dividends. It follows prior dividend and earnings updates and sits alongside an active S-3 shelf for up to $452,114,647, giving the company capital-raising flexibility investors may monitor over time.

Key Terms

cusip, section 199a dividends, qualified reit dividends, irc section 199a(b)(1)(b)

4 terms

cusip financial

"Chicago Atlantic Real Estate Finance, Inc.CUSIP: 167239102Ticker: NASDAQ: REFI"

A CUSIP is a nine-character alphanumeric code that uniquely identifies a U.S. or Canadian financial security—such as a stock, bond, or fund share—like a Social Security number for an investment. It matters to investors because brokers, exchanges and record-keepers use the CUSIP to match trades, track ownership, settle transactions and pull accurate records, reducing errors and ensuring money and securities go to the right place.

section 199a dividends regulatory

"Section 199A Dividends (per share)(2)"

Section 199A dividends are certain dividend payments from real estate investment trusts (REITs) and publicly traded partnerships that qualify for a special U.S. tax deduction allowing up to a 20% reduction of the income they create. For investors, that means these payouts are taxed differently than regular dividend income—they don’t get the lower capital gains rate but can lower taxable income through the deduction, similar to getting a partial tax rebate on that income.

qualified reit dividends regulatory

"applicable to “qualified REIT dividends” under IRC Section 199A(b)(1)(B)"

Qualified REIT dividends are the portion of payments from a real estate investment trust that receives special tax treatment for individual U.S. taxpayers: they are reported separately so investors can claim a targeted deduction (commonly the 20% qualified business income deduction) rather than being taxed only as ordinary income. This matters to investors because it changes the after-tax income from a REIT—similar to getting a partial tax break on part of a paycheck—affecting the real yield and attractiveness of the investment.

irc section 199a(b)(1)(b) regulatory

"under IRC Section 199A(b)(1)(B). Please consult your tax advisor."

A rule in the U.S. tax code that limits the 20% pass-through business income deduction for owners of flow-through entities when their taxable income is above certain thresholds. It says the deduction cannot exceed either a simple wage-based cap or a combined wage-and-capital formula (think of choosing the larger of two safe-guard amounts), which matters to investors because it affects after-tax cash flows and the true return from privately held or pass-through businesses.

AI-generated analysis. Not financial advice.

CHICAGO, Jan. 29, 2026 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) (“Chicago Atlantic” or the “Company”), a commercial mortgage real estate investment trust, today announced year-end tax reporting information for its 2025 distributions. Stockholders are urged to consult with their personal tax advisors as to their specific tax treatment.

Chicago Atlantic Real Estate Finance, Inc.
CUSIP: 167239102
Ticker: NASDAQ: REFI

Record Date	Payment Date	Cash Distribution (per share)		Dividend (1)		Ordinary Dividend (per share)		Qualified Dividends (per share)		Section 199A Dividends (per share)(2)
3/31/2025	4/15/2025	$0.47		$0.47		$0.47		$0.00		$0.47
6/30/2025	7/15/2025	$0.47		$0.47		$0.47		$0.00		$0.47
9/30/2025	10/15/2025	$0.47		$0.47		$0.47		$0.00		$0.47
12/31/2025	1/15/2026	$0.47		$0.47		$0.47		$0.00		$0.47

1. Pursuant to IRC Section 857(b)(9), cash distributions made on January 15, 2026  with a record date of December 31, 2025 are treated as received by shareholders on December 31, 2025 to the extent of 2025 earnings and profits. As the Company’s 2025 earnings and profits are expected to meet or exceed the aggregate 2025 dividends declared, none of the January 2026 cash distribution declared in the fourth quarter of 2025 was treated as a 2026 distribution for federal income tax purposes.
    
2. Ordinary dividends may be eligible for the 20% deduction applicable to “qualified REIT dividends” under IRC Section 199A(b)(1)(B). Please consult your tax advisor.

About Chicago Atlantic Real Estate Finance, Inc.

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) is a market-leading commercial mortgage REIT utilizing significant real estate, credit and cannabis expertise to originate senior secured loans primarily to state-licensed cannabis operators in limited-license states in the United States. REFI is part of the Chicago Atlantic platform, which has offices in Chicago, Miami, New York, and London.

Contact:
Tripp Sullivan
SCR Partners
IR@REFI.reit

FAQ

What did Chicago Atlantic (REFI) report for 2025 quarterly distributions?

Each quarter of 2025 paid a $0.47 cash distribution per share. According to the company, record dates were 3/31, 6/30, 9/30 and 12/31/2025, with corresponding payment dates April 15, July 15, October 15, and January 15, 2026.

Why is the January 15, 2026 payment treated as 2025 income for REFI shareholders?

The Jan 15, 2026 payment is treated as received on December 31, 2025 under IRC Section 857(b)(9). According to the company, 2025 earnings and profits meet or exceed declared dividends so no portion was treated as 2026 distribution.

Are Chicago Atlantic (REFI) distributions in 2025 qualified dividends?

Qualified dividends are reported as $0.00 per share for 2025. According to the company, distributions are reported as ordinary dividends with no qualified dividend amount listed in the tax table.

Do REFI shareholders get the Section 199A deduction on 2025 dividends?

Section 199A dividends are shown as $0.47 per share and may be eligible for a 20% deduction. According to the company, ordinary dividends may qualify under IRC Section 199A(b)(1)(B) for certain taxpayers, subject to tax rules.

How should REFI shareholders handle tax reporting for the 2025 distributions?

Shareholders should consult personal tax advisors to determine specific tax treatment. According to the company, tax handling depends on individual circumstances and applicable IRC provisions like Section 857 and 199A.