Innovative Industrial Properties Announces Amended Tax Treatment of 2021 Distributions

CANNANNEW REPORT

SAN DIEGO–(BUSINESS WIRE)–Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) today announced an amendment to its initial tax treatment of its 2021 distributions that was provided in a press release dated January 28, 2022. The amended tax treatment of its 2021 distributions is as follows: Security Description: Common Stock CUSIP: 45781V101 Ticker Symbol: IIPR     Record Date   Payable Date Total Distribution Per Share   Allocable to 2021 Taxable Ordinary Dividend   Return of Capital   Long-Term Capital Gain Unrecaptured Section 1250 Gain Section 199A Dividend(1) 12/31/2020 01/15/2021 $1.240000 $1.020000 $1.020000 $0.000000 $0.000000 $0.000000 $1.020000 03/31/2021 04/15/2021 $1.320000 $1.320000 $1.320000 $0.000000 $0.000000 $0.000000 $1.320000 06/30/2021 07/15/2021 $1.400000 $1.400000 $1.400000 $0.000000 $0.000000 $0.000000 $1.400000 09/30/2021 10/15/2021 $1.500000 $1.500000 $1.500000 $0.000000 $0.000000 $0.000000 $1.500000 12/31/2021 01/14/2022 $1.500000 $0.100000 $0.100000 $0.000000 $0.000000 $0.000000 $0.100000   Totals $6.960000 $5.340000 $5.340000 $0.000000 $0.000000 $0.000000 $5.340000 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 2021 Taxable Ordinary Dividend   Return of Capital   Long-Term Capital Gain Unrecaptured Section 1250 Gain Section 199A Dividend(1) 03/31/2021 04/15/2021 $0.562500 $0.562500 $0.562500 $0.000000 $0.000000 $0.000000 $0.562500 06/30/2021 07/15/2021 $0.562500 $0.562500 $0.562500 $0.000000 $0.000000 $0.000000 $0.562500 09/30/2021 10/15/2021 $0.562500 $0.562500 $0.562500 $0.000000 $0.000000 $0.000000 $0.562500 12/31/2021 01/14/2022 $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, 2021 will be 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. As previously disclosed by IIP on February 1, 2021 in its press release announcing the…

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