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Innovative Industrial Properties Announces Tax Treatment of 2019 Distributions

Innovative Industrial Properties, Inc. (the “Company”) (NYSE: IIPR) today announced the tax treatment of its 2019 distributions as follows:

Security Description: Common Stock
CUSIP: 45781V101
Ticker Symbol: IIPR
 

Record
Date

 

Payable
Date

Total
Distribution
Per Share
 

Allocable
to 2019

Taxable
Ordinary
Dividend
 

Return of
Capital

 

Long-Term
Capital Gain

Unrecaptured
Section
1250 Gain
Section

199A

Dividend(1)

12/31/2018 01/15/2019 $0.350000 $0.149887 $0.149887 $0.000000 $0.000000 $0.000000 $0.149887
03/29/2019 04/15/2019 $0.450000 $0.450000 $0.450000 $0.000000 $0.000000 $0.000000 $0.450000
06/28/2019 07/15/2019 $0.600000 $0.600000 $0.600000 $0.000000 $0.000000 $0.000000 $0.600000
09/30/2019 10/15/2019 $0.780000 $0.780000 $0.780000 $0.000000 $0.000000 $0.000000 $0.780000
12/31/2019 01/15/2020 $1.000000 $0.510000 $0.510000 $0.000000 $0.000000 $0.000000 $0.510000
Totals $3.180000 $2.489887 $2.489887 $0.000000 $0.000000 $0.000000 $2.489887
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 2019

Taxable
Ordinary
Dividend
 

Return of
Capital

 

Long-Term
Capital Gain

Unrecaptured
Section 1250
Gain
Section

199A

Dividend(1)

03/29/2019 04/15/2019 $0.562500 $0.562500 $0.562500 $0.000000 $0.000000 $0.000000 $0.562500
06/28/2019 07/15/2019 $0.562500 $0.562500 $0.562500 $0.000000 $0.000000 $0.000000 $0.562500
09/30/2019 10/15/2019 $0.562500 $0.562500 $0.562500 $0.000000 $0.000000 $0.000000 $0.562500
12/31/2019 01/15/2020 $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, 2019 will be a split-year distribution with $0.51 allocable to 2019 for federal income tax purposes and $0.49 allocable to 2020 for federal income tax purposes.

As previously disclosed by the Company on February 11, 2019 in its press release announcing the tax treatment of 2018 dividends, the common stock distribution with a record date of December 31, 2018 was a split-year distribution with $0.200113 allocable to 2018 for federal income tax purposes and $0.149887 allocable to 2019 for federal income tax purposes, and the 9.00% Series A Cumulative Redeemable Preferred Stock distribution with a record date of December 31, 2018 was allocable entirely to 2018 for federal income tax purposes.

The Company did not incur any foreign taxes in 2019. Stockholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of the Company’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 medical-use 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

Catherine Hastings
Chief Financial Officer, Chief Accounting Officer and Treasurer
Innovative Industrial Properties, Inc.
(858) 997-3332


MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
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