Innovative Industrial Properties Announces Tax Treatment of 2024 Distributions
SAN DIEGO–(BUSINESS WIRE)–Innovative Industrial Properties, Inc. (IIP) (NYSE:IIPR) today announced the tax treatment of its 2024 distributions as follows:
Security Description: Common Stock
CUSIP: 45781V101
Ticker Symbol: IIPR
|
Record |
Payable |
Total |
Allocable |
Taxable |
Return of |
Long-Term |
Unrecaptured |
Section |
|
12/29/2023 |
01/12/2024 |
$1.820000 |
$0.990000 |
$0.990000 |
$0.000000 |
$0.000000 |
$0.000000 |
$0.990000 |
|
03/28/2024 |
04/15/2024 |
$1.820000 |
$1.820000 |
$1.820000 |
$0.000000 |
$0.000000 |
$0.000000 |
$1.820000 |
|
06/28/2024 |
07/15/2024 |
$1.900000 |
$1.900000 |
$1.900000 |
$0.000000 |
$0.000000 |
$0.000000 |
$1.900000 |
|
09/30/2024 |
10/15/2024 |
$1.900000 |
$1.900000 |
$1.900000 |
$0.000000 |
$0.000000 |
$0.000000 |
$1.900000 |
|
12/31/2024 |
01/15/2025 |
$1.900000 |
$0.830000 |
$0.830000 |
$0.000000 |
$0.000000 |
$0.000000 |
$0.830000 |
|
|
Totals |
$9.340000 |
$7.440000 |
$7.440000 |
$0.000000 |
$0.000000 |
$0.000000 |
$7.440000 |
Security Description: 9.00% Series A Cumulative Redeemable Preferred Stock
CUSIP: 45781V200
Ticker Symbol: IIPR PR A
|
Record |
Payable |
Total |
Allocable |
Taxable |
Return of |
Long-Term |
Unrecaptured |
Section |
|
03/28/2024 |
04/15/2024 |
$0.562500 |
$0.562500 |
$0.562500 |
$0.000000 |
$0.000000 |
$0.000000 |
$0.562500 |
|
06/28/2024 |
07/15/2024 |
$0.562500 |
$0.562500 |
$0.562500 |
$0.000000 |
$0.000000 |
$0.000000 |
$0.562500 |
|
09/30/2024 |
10/15/2024 |
$0.562500 |
$0.562500 |
$0.562500 |
$0.000000 |
$0.000000 |
$0.000000 |
$0.562500 |
|
12/31/2024 |
01/15/2025 |
$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 31, 2024 will be a split-year distribution, with $0.83 allocable to 2024 for federal income tax purposes and $1.07 allocable to 2025 for federal income tax purposes.
As previously disclosed by IIP on January 26, 2024 in its press release announcing the tax treatment of 2023 dividends, the common stock distribution with a record date of December 29, 2023 was 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, and the 9.00% Series A Cumulative Redeemable Preferred Stock distribution with a record date of December 29, 2023 was allocable entirely to 2023 for federal income tax purposes.
IIP did not incur any foreign taxes in 2024. 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.