Innovative Industrial Properties Announces Tax Treatment of 2020 Distributions
February 01 2021 - 08:52PM
Business Wire
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20210201005994/en/
Catherine Hastings Chief Financial Officer Innovative Industrial
Properties, Inc. (858) 997-3332
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