Innovative Industrial Properties Inc (IIPR)

[wiredawg]

Innovative Industrial Properties Declares Fourth Quarter 2020 Dividends
December 14, 2020

Represents Ninth Increase in Common Stock Dividend since December 2016 IPO

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 fourth quarter 2020 dividend of $1.24 per share of common stock, representing an approximately 6% increase over IIP's third quarter 2020 dividend of $1.17 per share of common stock, and a 24% increase over IIP’s fourth quarter 2019 dividend of $1.00 per share of common stock. The dividend is equivalent to an annualized dividend of $4.96 per common share, and is the ninth 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 January 15, 2021 to stockholders of record at the close of business on December 31, 2020.