SAN DIEGO, Calif. — Innovative Industrial Properties, Inc. (IIP), the first cannabis real estate company on the New York Stock Exchange, declared a second quarter 2024 dividend of $1.90 per share of common stock, representing a 4.4% increase over IIP’s first quarter 2024 dividend of $1.82 per share of common stock. The dividend is equivalent to an annualized dividend of $7.60 per common share.
“We are pleased to announce an increase in our quarterly common stock dividend, which continues our strong track record of increasing our dividend every year since our inception in 2016,” said Paul Smithers, President and Chief Executive Officer of IIP.
Additionally, IIP declared a regular quarterly dividend of $0.5625 per share of IIP’s 9.00% Series A Cumulative Redeemable Preferred Stock.
About Innovative Industrial Properties
Innovative Industrial Properties, Inc. is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated cannabis facilities. Innovative Industrial Properties, Inc. has elected to be taxed as a real estate investment trust, commencing with the year ended December 31, 2017.
