Innovative Industrial Properties Inc (IIPR)

[wiredawg]

Innovative Industrial Properties Declares Third Quarter 2020 Dividends
September 15, 2020

Common Stock Dividend Increased 10% from Prior Quarter and 50% from Q3 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 third quarter 2020 dividend of $1.17 per share of common stock, representing an approximately 10% increase over IIP’s second quarter 2020 dividend of $1.06 per share of common stock, and a 50% increase over IIP’s third quarter 2019 dividend of $0.78 per share of common stock. The dividend is equivalent to an annualized dividend of $4.68 per common share, and is the eighth 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 October 15, 2020 to stockholders of record at the close of business on September 30, 2020.

http://investors.innovativeindustrialproperties.com/press-releases/2020/09-15-2020-120017224