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Innovative Industrial Properties Announces Tax Treatment of 2022 Distributions

Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) today announced the tax treatment of its 2022 distributions as follows:

Security Description: Common Stock

CUSIP: 45781V101

Ticker Symbol: IIPR

 

Record

Date

 

Payable

Date

Total

Distribution

Per Share

 

Allocable

to 2022

Taxable

Ordinary

Dividend

 

Return of

Capital

 

Long-Term

Capital Gain

Unrecaptured

Section 1250

Gain(1)

Section

199A

Dividend(2)

12/31/2021

01/14/2022

$1.500000

$1.400000

$1.380013

$0.000000

$0.019987

$0.011723

$1.380013

03/31/2022

04/14/2022

$1.750000

$1.750000

$1.725016

$0.000000

$0.024984

$0.014653

$1.725016

06/30/2022

07/15/2022

$1.750000

$1.750000

$1.725016

$0.000000

$0.024984

$0.014653

$1.725016

09/30/2022

10/14/2022

$1.800000

$1.800000

$1.774302

$0.000000

$0.025698

$0.015072

$1.774302

12/30/2022

01/13/2023

$1.800000

$0.330000

$0.325289

$0.000000

$0.004711

$0.002763

$0.325289

 

Totals

$8.600000

$7.030000

$6.929636

$0.000000

$0.100364

$0.058864

$6.929636

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 2022

Taxable

Ordinary

Dividend

 

Return of

Capital

 

Long-Term

Capital Gain

Unrecaptured

Section

1250 Gain(1)

Section

199A

Dividend(2)

03/31/2022

04/14/2022

$0.562500

$0.562500

$0.554469

$0.000000

$0.008031

$0.004710

$0.554469

06/30/2022

07/15/2022

$0.562500

$0.562500

$0.554469

$0.000000

$0.008031

$0.004710

$0.554469

09/30/2022

10/14/2022

$0.562500

$0.562500

$0.554469

$0.000000

$0.008031

$0.004710

$0.554469

12/30/2022

01/13/2023

$0.562500

$0.562500

$0.554469

$0.000000

$0.008031

$0.004710

$0.554469

 

Totals

$2.250000

$2.250000

$2.217876

$0.000000

$0.032124

$0.018840

$2.217876

(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 30, 2022 will be a split-year distribution, with $0.33 allocable to 2022 for federal income tax purposes and $1.47 allocable to 2023 for federal income tax purposes.

As previously disclosed by IIP on January 31, 2022 in its press release announcing the tax treatment of 2021 dividends, the common stock distribution with a record date of December 31, 2021 was a split-year distribution, with $0.10 allocable to 2021 for federal income tax purposes and $1.40 allocable to 2022 for federal income tax purposes, and the 9.00% Series A Cumulative Redeemable Preferred Stock distribution with a record date of December 31, 2021 was allocable entirely to 2021 for federal income tax purposes.

IIP did not incur any foreign taxes in 2022. 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.

Contacts

Catherine Hastings

Chief Financial Officer

Innovative Industrial Properties, Inc.

(858) 997-3332

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