By Sarah Beth Rizzo and David Polster ( September 1, 2017, 11:31 AM EDT) -- On Aug. 11, 2017, the Internal Revenue Service released guidance allowing publicly offered real estate investment trusts and regulated investment companies to distribute earnings in a combination of cash and stock as long as shareholders are able to elect to receive cash or stock and the aggregate amount of cash available is at least 20 percent of the total dividend. To the extent shareholders elect to receive more cash than is available, each shareholder who elects to receive all cash must receive a pro rata share of the cash and the rest of the distribution in stock. The number of shares to be issued is calculated using market trading prices from some period within the two weeks prior to the dividend payment date. Because the entire amount of the distribution is taxable to shareholders regardless of the amount of stock they receive, both the cash and the stock amounts count toward satisfying the REIT and RIC distribution requirements for U.S. federal income tax purposes....