Innovative Industrial Properties Announces Tax Treatment of 2019 Distributions
January 30 2020 - 7:00AM
Business Wire
Innovative Industrial Properties, Inc. (the “Company”) (NYSE:
IIPR) today announced the tax treatment of its 2019 distributions
as follows:
Security Description: Common
Stock
CUSIP: 45781V101
Ticker Symbol: IIPR
Record Date
Payable Date
Total Distribution Per
Share
Allocable to
2019
Taxable Ordinary
Dividend
Return of
Capital
Long-Term Capital
Gain
Unrecaptured
Section 1250 Gain
Section
199A
Dividend(1)
12/31/2018
01/15/2019
$0.350000
$0.149887
$0.149887
$0.000000
$0.000000
$0.000000
$0.149887
03/29/2019
04/15/2019
$0.450000
$0.450000
$0.450000
$0.000000
$0.000000
$0.000000
$0.450000
06/28/2019
07/15/2019
$0.600000
$0.600000
$0.600000
$0.000000
$0.000000
$0.000000
$0.600000
09/30/2019
10/15/2019
$0.780000
$0.780000
$0.780000
$0.000000
$0.000000
$0.000000
$0.780000
12/31/2019
01/15/2020
$1.000000
$0.510000
$0.510000
$0.000000
$0.000000
$0.000000
$0.510000
Totals
$3.180000
$2.489887
$2.489887
$0.000000
$0.000000
$0.000000
$2.489887
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 2019
Taxable Ordinary
Dividend
Return of
Capital
Long-Term Capital
Gain
Unrecaptured Section
1250 Gain
Section
199A
Dividend(1)
03/29/2019
04/15/2019
$0.562500
$0.562500
$0.562500
$0.000000
$0.000000
$0.000000
$0.562500
06/28/2019
07/15/2019
$0.562500
$0.562500
$0.562500
$0.000000
$0.000000
$0.000000
$0.562500
09/30/2019
10/15/2019
$0.562500
$0.562500
$0.562500
$0.000000
$0.000000
$0.000000
$0.562500
12/31/2019
01/15/2020
$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
- These amounts are a subset of, and included in, Taxable
Ordinary Dividend amounts.
The common stock distribution with a record date of December 31,
2019 will be a split-year distribution with $0.51 allocable to 2019
for federal income tax purposes and $0.49 allocable to 2020 for
federal income tax purposes.
As previously disclosed by the Company on February 11, 2019 in
its press release announcing the tax treatment of 2018 dividends,
the common stock distribution with a record date of December 31,
2018 was a split-year distribution with $0.200113 allocable to 2018
for federal income tax purposes and $0.149887 allocable to 2019 for
federal income tax purposes, and the 9.00% Series A Cumulative
Redeemable Preferred Stock distribution with a record date of
December 31, 2018 was allocable entirely to 2018 for federal income
tax purposes.
The Company did not incur any foreign taxes in 2019.
Stockholders are encouraged to consult with their personal tax
advisors as to their specific tax treatment of the Company'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
medical-use 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20200130005216/en/
Catherine Hastings Chief Financial Officer, Chief Accounting
Officer and Treasurer Innovative Industrial Properties, Inc. (858)
997-3332
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