Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) today announced the tax treatment of its 2023 distributions as follows:
Security Description: Common Stock
CUSIP: 45781V101
Ticker Symbol: IIPR
Record Date |
Payable Date |
Total Distribution Per Share |
Allocable to 2023 |
Taxable Ordinary Dividend |
Return of Capital |
Long-Term Capital Gain |
Unrecaptured Section 1250 Gain(1) |
Section 199A Dividend(2) |
12/30/2022 |
01/13/2023 |
$1.800000 |
$1.470000 |
$1.470000 |
$0.000000 |
$0.000000 |
$0.000000 |
$1.470000 |
03/31/2023 |
04/14/2023 |
$1.800000 |
$1.800000 |
$1.800000 |
$0.000000 |
$0.000000 |
$0.000000 |
$1.800000 |
06/30/2023 |
07/14/2023 |
$1.800000 |
$1.800000 |
$1.800000 |
$0.000000 |
$0.000000 |
$0.000000 |
$1.800000 |
09/29/2023 |
10/13/2023 |
$1.800000 |
$1.800000 |
$1.800000 |
$0.000000 |
$0.000000 |
$0.000000 |
$1.800000 |
12/29/2023 |
01/12/2024 |
$1.820000 |
$0.830000 |
$0.830000 |
$0.000000 |
$0.000000 |
$0.000000 |
$0.830000 |
|
Totals |
$9.020000 |
$7.700000 |
$7.700000 |
$0.000000 |
$0.000000 |
$0.000000 |
$7.700000 |
Security Description: 9.00% Series A Cumulative Redeemable Preferred Stock
CUSIP: 45781V200
Ticker Symbol: IIPR PR A
Record Date |
Payable Date |
Total Distribution Per Share |
Allocable to 2023 |
Taxable Ordinary Dividend |
Return of Capital |
Long-Term Capital Gain |
Unrecaptured Section 1250 Gain(1) |
Section 199A Dividend(2) |
03/31/2023 |
04/14/2023 |
$0.562500 |
$0.562500 |
$0.562500 |
$0.000000 |
$0.000000 |
$0.000000 |
$0.562500 |
06/30/2023 |
07/14/2023 |
$0.562500 |
$0.562500 |
$0.562500 |
$0.000000 |
$0.000000 |
$0.000000 |
$0.562500 |
09/29/2023 |
10/13/2023 |
$0.562500 |
$0.562500 |
$0.562500 |
$0.000000 |
$0.000000 |
$0.000000 |
$0.562500 |
12/29/2023 |
01/12/2024 |
$0.562500 |
$0.562500 |
$0.562500 |
$0.000000 |
$0.000000 |
$0.000000 |
$0.562500 |
|
Totals |
$2.250000 |
$2.250000 |
$2.250000 |
$0.000000 |
$0.000000 |
$0.000000 |
$2.250000 |
(1) |
These amounts are a subset of, and included in, Long-Term Capital Gain amounts. |
|
(2) |
These amounts are a subset of, and included in, Taxable Ordinary Dividend amounts. |
The common stock distribution with a record date of December 29, 2023 will be a split-year distribution, with $0.83 allocable to 2023 for federal income tax purposes and $0.99 allocable to 2024 for federal income tax purposes.
As previously disclosed by IIP on January 26, 2023 in its press release announcing the tax treatment of 2022 dividends, the common stock distribution with a record date of December 30, 2022 was a split-year distribution, with $0.33 allocable to 2022 for federal income tax purposes and $1.47 allocable to 2023 for federal income tax purposes, and the 9.00% Series A Cumulative Redeemable Preferred Stock distribution with a record date of December 30, 2022 was allocable entirely to 2022 for federal income tax purposes.
IIP did not incur any foreign taxes in 2023. Stockholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of IIP’s distributions.
About Innovative Industrial Properties
Innovative Industrial Properties, Inc. is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated cannabis facilities. Innovative Industrial Properties, Inc. has elected to be taxed as a real estate investment trust, commencing with the year ended December 31, 2017. Additional information is available at www.innovativeindustrialproperties.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240126622212/en/
Contacts
David Smith
Chief Financial Officer
Innovative Industrial Properties, Inc.
(858) 997-3332
