Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) today announced the tax treatment of its 2020 distributions as follows:

Security Description: Common Stock

CUSIP: 45781V101

Ticker Symbol: IIPR

                 

 

Record Date

 

 

Payable Date

 

Total Distribution Per Share

 

 

Allocable to 2020

 

Taxable Ordinary Dividend

 

 

Return of Capital

 

 

Long-Term Capital Gain

 

Unrecaptured Section 1250 Gain

 

Section 199A Dividend(1)

12/31/2019

 

01/15/2020

 

$1.000000

 

$0.490000

 

$0.490000

 

$0.000000

 

$0.000000

 

$0.000000

 

$0.490000

03/31/2020

 

04/15/2020

 

$1.000000

 

$1.000000

 

$1.000000

 

$0.000000

 

$0.000000

 

$0.000000

 

$1.000000

06/30/2020

 

07/15/2020

 

$1.060000

 

$1.060000

 

$1.060000

 

$0.000000

 

$0.000000

 

$0.000000

 

$1.060000

09/30/2020

 

10/15/2020

 

$1.170000

 

$1.170000

 

$1.170000

 

$0.000000

 

$0.000000

 

$0.000000

 

$1.170000

12/31/2020

 

01/15/2021

 

$1.240000

 

$0.220000

 

$0.220000

 

$0.000000

 

$0.000000

 

$0.000000

 

$0.220000

 

 

Totals

 

$5.470000

 

$3.940000

 

$3.940000

 

$0.000000

 

$0.000000

 

$0.000000

 

$3.940000

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 2020

 

Taxable Ordinary Dividend

 

 

Return of Capital

 

 

Long-Term Capital Gain

 

Unrecaptured Section 1250 Gain

 

Section

199A Dividend(1)

03/31/2020

 

04/15/2020

 

$0.562500

 

$0.562500

 

$0.562500

 

$0.000000

 

$0.000000

 

$0.000000

 

$0.562500

06/30/2020

 

07/15/2020

 

$0.562500

 

$0.562500

 

$0.562500

 

$0.000000

 

$0.000000

 

$0.000000

 

$0.562500

09/30/2020

 

10/15/2020

 

$0.562500

 

$0.562500

 

$0.562500

 

$0.000000

 

$0.000000

 

$0.000000

 

$0.562500

12/31/2020

 

01/15/2021

 

$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, Taxable Ordinary Dividend amounts.

The common stock distribution with a record date of December 31, 2020 will be a split-year distribution, with $0.22 allocable to 2020 for federal income tax purposes and $1.02 allocable to 2021 for federal income tax purposes.

As previously disclosed by IIP on January 30, 2020 in its press release announcing the tax treatment of 2019 dividends, the common stock distribution with a record date of December 31, 2019 was 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, and the 9.00% Series A Cumulative Redeemable Preferred Stock distribution with a record date of December 31, 2019 was allocable entirely to 2019 for federal income tax purposes.

IIP did not incur any foreign taxes in 2020. 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 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.

Catherine Hastings Chief Financial Officer Innovative Industrial Properties, Inc. (858) 997-3332

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