SAN DIEGO — The board of directors for Innovative Industrial Properties, Inc. (IIP), the first real estate company on the New York Stock Exchange focused on the regulated U.S. cannabis industry, declared a third quarter 2024 dividend of $1.90 per share of common stock, representing an annualized dividend of $7.60 per common share.
“We are proud to declare our 30th consecutive quarterly dividend since our inception in 2016,” said Paul Smithers, President and Chief Executive Officer of IIP. “Since our inception, we have continued to share our growing cash flows with our stockholders by declaring over $830 million of common stock dividends.”
Additionally, the board of directors 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, 2024 to stockholders of record at the close of business on September 30, 2024.
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.
