NewLake Capital Partners Announces Tax Characteristics of 2024 Dividends
Rhea-AI Summary
NewLake Capital Partners (OTCQX: NLCP) has disclosed the tax characteristics of its 2024 dividend distributions. The company distributed a total of $1.70 per share across four quarterly payments, with the following breakdown:
- $1.47 per share classified as Section 199A dividends (included in ordinary dividends)
- $0.23 per share classified as return of capital
- No qualified dividends or capital gains distributions
The quarterly distributions were:
- Q1: $0.41 per share (paid April 15)
- Q2: $0.43 per share (paid July 15)
- Q3: $0.43 per share (paid October 15)
- Q4: $0.43 per share (paid January 15, 2025, but taxable in 2024)
Positive
- Consistent quarterly dividend payments throughout 2024
- Dividend increased from $0.41 to $0.43 per share during the year
- Total annual dividend distribution of $1.70 per share
Negative
- None.
NEW CANAAN, Conn., Jan. 29, 2025 (GLOBE NEWSWIRE) -- NewLake Capital Partners, Inc. (OTCQX: NLCP) (“The Company” or “NewLake”), a leading provider of real estate capital to state-licensed cannabis operators, today announced the tax treatment of its common stock dividends declared in 2024.
The information below is provided to assist the Company’s stockholders with tax reporting requirements related to the dividend distribution of taxable income by the Company. Stockholders should receive IRS Form 1099-DIV containing this information from their brokers, transfer agents or other institutions. These tax statements should be reviewed to ensure that they agree with the information provided below.
Tax Treatment of Distributions
The Federal Income Tax classification of the 2024 dividend distributions on the Company’s common stock, as it is expected to be reported on Form 1099-DIV, is set forth in the following table:
| Record Date | Payment Date | Distribution Rate per Share | Total Ordinary Dividends | Qualified Dividends | Total Capital Gains Distributions | Section 199A Dividends (2) | Total Return of Capital | ||||
| 3/29/2024 | 4/15/2024 | - | - | ||||||||
| 6/28/2024 | 7/15/2024 | - | - | ||||||||
| 9/30/2024 | 10/15/2024 | - | - | ||||||||
| 12/31/2024 | 1/15/2025(1) | - | - | ||||||||
| Total | $1.70 | $1.47 | - | - | $1.47 | $0.23 | |||||
- The cash distributions made on January 15, 2025, with a record date of December 31, 2024, are treated as income and taxable in calendar year 2024.
- Section 199A dividends are a subset of, and included in, the ordinary dividends amount.
Consult Your Tax Advisor
Stockholders may have additional reporting obligations to the Internal Revenue Service and/or other tax authorities.
The U.S. federal income tax treatment of the Company’s common stock to any stockholder will depend on the stockholder’s particular circumstances. You are urged to consult your tax advisor regarding the U.S. federal, state, local and foreign income, and other tax consequences to you, in light of your particular investment or tax circumstances, of acquiring, holding and disposing of the Company’s common stock.
The Company does not provide tax, accounting, or legal advice. Any tax statements contained herein were not intended or written to be used and cannot be used for the purpose of avoiding U.S., federal, state or local tax penalties. Please consult your advisor as to any tax, accounting or legal statements made herein.
About NewLake Capital Partners, Inc.
NewLake Capital Partners, Inc. is an internally managed real estate investment trust (“REIT”) that provides real estate capital to state-licensed cannabis operators through long-term, single-tenant triple net sale-leaseback and build-to-suit transactions. NewLake owns a portfolio of 32 properties comprised of 15 cultivation facilities and 17 dispensaries. For more information, please visit www.newlake.com.
Forward-Looking Statements
This press release contains “forward-looking statements.” Forward-looking statements can be identified by words like “may,” “will,” “likely,” “should,” “expect,” “anticipate,” “future,” “plan,” “believe,” “intend,” “goal,” “project,” “continue” and similar expressions. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs and expectations. Forward-looking statements, including statements regarding the timing of settlement and the use of proceeds of the initial public offering, are based on the Company’s current expectations and assumptions regarding capital market conditions, the Company’s business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, changes in the condition of the U.S. economy and, in particular, the U.S. real estate market.
Contact Information:
Lisa Meyer
Chief Financial Officer, Treasurer and Secretary NewLake Capital Partners, Inc.
lmeyer@newlake.com
Investor Contact:
Valter Pinto, Managing Director
KCSA Strategic Communications
NewLake@KCSA.com
PH: (212) 896-1254
Media Contact:
Ellen Mellody
KCSA Strategic Communications
EMellody@KCSA.com
PH: (570) 209-2947
FAQ
What is the total dividend amount NLCP paid in 2024?
How are NLCP's 2024 dividends classified for tax purposes?
When did NLCP increase its dividend payment in 2024?
Is NLCP's January 2025 dividend payment taxable in 2024?
What portion of NLCP's 2024 dividends qualifies as return of capital?
