Innovative Industrial Properties Announces Tax Treatment of 2024 Distributions
January 27 2025 - 6:55AM
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 Date
Payable Date
Total Distribution Per
Share
Allocable to 2024
Taxable Ordinary
Dividend
Return of Capital
Long-Term Capital Gain
Unrecaptured Section 1250
Gain(1)
Section 199A
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
Record Date
Payable Date
Total Distribution Per
Share
Allocable to 2024
Taxable Ordinary
Dividend
Return of Capital
Long-Term Capital Gain
Unrecaptured Section 1250
Gain(1)
Section 199A
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/
Company Contact: David Smith Chief Financial Officer Innovative
Industrial Properties, Inc. (858) 997-3332
Innovative Industrial Pr... (NYSE:IIPR)
Historical Stock Chart
From Jan 2025 to Feb 2025
Innovative Industrial Pr... (NYSE:IIPR)
Historical Stock Chart
From Feb 2024 to Feb 2025