Innovative Industrial Properties Announces Tax Treatment of 2024 Distributions

SAN DIEGO--(BUSINESS WIRE)--January 27, 2025-- 

Innovative Industrial Properties, Inc. $(IIP.UK)$ $(IIPR)$ today announced the tax treatment of its 2024 distributions as follows:

Security Description: Common Stock

CUSIP: 45781V101

Ticker Symbol: IIPR

 
                             Total                  Taxable              Long-Term  Unrecaptured    Section 
  Record       Payable    Distribution  Allocable   Ordinary  Return of   Capital   Section 1250     199A 
    Date         Date      Per Share     to 2024    Dividend   Capital     Gain       Gain(1)     Dividend(2) 
-----------  -----------  ------------  ---------  ---------  ---------  ---------  ------------  ----------- 
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

 
                             Total                  Taxable              Long-Term  Unrecaptured    Section 
  Record       Payable    Distribution  Allocable   Ordinary  Return of   Capital   Section 1250     199A 
    Date         Date      Per Share     to 2024    Dividend   Capital     Gain       Gain(1)     Dividend(2) 
-----------  -----------  ------------  ---------  ---------  ---------  ---------  ------------  ----------- 
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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250127494921/en/

 
    CONTACT:    Company Contact: 

David Smith

Chief Financial Officer

Innovative Industrial Properties, Inc.

(858) 997-3332

(END) Dow Jones Newswires

January 27, 2025 06:55 ET (11:55 GMT)