Innovative Industrial Properties Inc (IIPR)

[wiredawg]

Common Stock Dividend Increased 6% from Prior Quarter and 77% from Q2 2019

SAN DIEGO--(BUSINESS WIRE)-- Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that its board of directors has declared a second quarter 2020 dividend of $1.06 per share of common stock, representing a 6% increase over IIP's first quarter 2020 dividend of $1.00 per share of common stock, and an approximately 77% increase over IIP's second quarter 2019 dividend of $0.60 per share of common stock. The dividend is equivalent to an annualized dividend of $4.24 per common share, and is the seventh dividend increase since IIP completed its initial public offering in December 2016.

Additionally, IIP announced today that its board of directors has declared a regular quarterly dividend of $0.5625 per share of IIP's 9.00% Series A Cumulative Redeemable Preferred Stock.

The dividends are payable on July 15, 2020 to stockholders of record at the close of business on June 30, 2020.

http://investors.innovativeindustrialproperties.com/press-releases/2020/06-15-2020-120028710