IIPR Innovative Industrial Properties Inc

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/

David Smith Chief Financial Officer Innovative Industrial Properties, Inc. (858) 997-3332