SAN DIEGO–(BUSINESS WIRE)–$IIPR #Dividendstocks–Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) today announced the tax treatment of its 2021 distributions as follows:
Security Description: Common Stock CUSIP: 45781V101 Ticker Symbol: IIPR | ||||||||
Record Date |
Payable Date | Total Distribution Per Share |
Allocable to 2021 | Taxable Ordinary Dividend |
Return of Capital |
Long-Term Capital Gain | Unrecaptured Section 1250 Gain | Section 199A Dividend(1) |
12/31/2020 | 01/15/2021 | $1.240000 | $1.020000 | $1.020000 | $0.000000 | $0.000000 | $0.000000 | $1.020000 |
03/31/2021 | 04/15/2021 | $1.320000 | $1.320000 | $1.320000 | $0.000000 | $0.000000 | $0.000000 | $1.320000 |
06/30/2021 | 07/15/2021 | $1.400000 | $1.400000 | $1.400000 | $0.000000 | $0.000000 | $0.000000 | $1.400000 |
09/30/2021 | 10/15/2021 | $1.500000 | $1.500000 | $1.500000 | $0.000000 | $0.000000 | $0.000000 | $1.500000 |
12/31/2021 | 01/14/2022 | $1.500000 | $0.100000 | $0.100000 | $0.000000 | $0.000000 | $0.000000 | $0.100000 |
| Totals | $6.960000 | $5.340000 | $5.340000 | $0.000000 | $0.000000 | $0.000000 | $5.340000 |
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) |
03/31/2021 | 04/15/2021 | $0.562500 | $0.562500 | $0.562500 | $0.000000 | $0.000000 | $0.000000 | $0.562500 |
06/30/2021 | 07/15/2021 | $0.562500 | $0.562500 | $0.562500 | $0.000000 | $0.000000 | $0.000000 | $0.562500 |
09/30/2021 | 10/15/2021 | $0.562500 | $0.562500 | $0.562500 | $0.000000 | $0.000000 | $0.000000 | $0.562500 |
12/31/2021 | 01/14/2022 | $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, 2021 will be a split-year distribution, with $0.10 allocable to 2021 for federal income tax purposes and $1.40 allocable to 2022 for federal income tax purposes.
As previously disclosed by IIP on February 1, 2021 in its press release announcing the tax treatment of 2020 dividends, the common stock distribution with a record date of December 31, 2020 was 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, and the 9.00% Series A Cumulative Redeemable Preferred Stock distribution with a record date of December 31, 2020 was allocable entirely to 2020 for federal income tax purposes.
IIP did not incur any foreign taxes in 2021. 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.
Contacts
Company Contact:
Catherine Hastings
Chief Financial Officer
Innovative Industrial Properties, Inc.
(858) 997-3332