SAN DIEGO--(BUSINESS WIRE)--
Innovative Industrial Properties, Inc. (the “Company”) (NYSE: IIPR)
today announced an amendment to its initial tax treatment of 2018
distributions that was provided in a press release dated January 30,
2019. The amended tax treatment of its 2018 distributions is as follows:
Security Description: Common Stock
CUSIP: 45781V101
Ticker
Symbol: IIPR
Record
Date |
| Payable
Date |
| Total
Distribution
Per Share |
| Allocable
to 2018 |
| Taxable
Ordinary
Dividend |
| Return of
Capital |
| Long-Term
Capital Gain |
| Unrecaptured
Section
1250 Gain |
| Section 199A Dividend(1) |
|
12/29/2017
|
|
01/16/2018
|
| $0.250000 |
| $0.250000 |
| $0.250000 |
| $0.000000 |
| $0.000000 |
| $0.000000 |
| $0.250000 |
|
03/29/2018
|
|
04/16/2018
|
| $0.250000 |
| $0.250000 |
| $0.250000 |
| $0.000000 |
| $0.000000 |
| $0.000000 |
| $0.250000 |
|
06/29/2018
|
|
07/16/2018
|
| $0.250000 |
| $0.250000 |
| $0.250000 |
| $0.000000 |
| $0.000000 |
| $0.000000 |
| $0.250000 |
|
09/28/2018
|
|
10/15/2018
|
| $0.350000 |
| $0.350000 |
| $0.350000 |
| $0.000000 |
| $0.000000 |
| $0.000000 |
| $0.350000 |
|
12/31/2018
|
|
01/15/2019
|
| $0.350000 |
| $0.200113 |
| $0.200113 |
| $0.000000 |
| $0.000000 |
| $0.000000 |
| $0.200113 |
|
|
|
Totals
|
| $1.450000 |
| $1.300113 |
| $1.300113 |
| $0.000000 |
| $0.000000 |
| $0.000000 |
| $1.300113 |
|
| |
| |
| |
| |
| |
| |
| |
| |
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 2018 |
| Taxable
Ordinary
Dividend |
| Return of
Capital |
| Long-Term
Capital Gain |
| Unrecaptured
Section
1250 Gain |
| Section 199A Dividend(1) |
|
12/29/2017
|
|
01/16/2018
|
| $0.537500 |
| $0.537500 |
| $0.537500 |
| $0.000000 |
| $0.000000 |
| $0.000000 |
| $0.537500 |
|
03/29/2018
|
|
04/16/2018
|
| $0.562500 |
| $0.562500 |
| $0.562500 |
| $0.000000 |
| $0.000000 |
| $0.000000 |
| $0.562500 |
|
06/29/2018
|
|
07/16/2018
|
| $0.562500 |
| $0.562500 |
| $0.562500 |
| $0.000000 |
| $0.000000 |
| $0.000000 |
| $0.562500 |
|
09/28/2018
|
|
10/15/2018
|
| $0.562500 |
| $0.562500 |
| $0.562500 |
| $0.000000 |
| $0.000000 |
| $0.000000 |
| $0.562500 |
|
12/31/2018
|
|
01/15/2019
|
| $0.562500 |
| $0.562500 |
| $0.562500 |
| $0.000000 |
| $0.000000 |
| $0.000000 |
| $0.562500 |
|
|
|
Totals
|
| $2.787500 |
| $2.787500 |
| $2.787500 |
| $0.000000 |
| $0.000000 |
| $0.000000 |
| $2.787500 |
(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,
2018 will be 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.
Corrected IRS Form 1099-DIV statements reflecting the amended tax
treatment of 2018 distributions will be mailed to stockholders.
Stockholders who hold their shares through a bank or broker should
expect to receive a corrected Form 1099-DIV from those institutions.
The Company did not incur any foreign taxes in 2018. 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190211005790/en/
Catherine Hastings
Chief Financial Officer, Chief Accounting
Officer and Treasurer
Innovative Industrial Properties, Inc.
(858)
997-3332
Source: Innovative Industrial Properties, Inc.