Cannabis REIT Boosts Dividend by 67%

Innovative Industrial Properties Declares Fourth Quarter 2017 Dividends

SAN DIEGO, Calif., Dec 15, 2017 (BUSINESS WIRE) — Innovative Industrial Properties, Inc. (the “Company”) (NYSE: IIPR), the leading provider of creative real estate capital solutions to the medical-use cannabis industry, announced today that its board of directors has declared a fourth quarter 2017 dividend of $0.25 per share of common stock, representing a 67% increase over the Company’s third quarter 2017 dividend of $0.15 per share of common stock. The dividend is equivalent to an annualized dividend of $1.00 per common share, and is the third consecutive quarterly dividend payable to common stockholders declared since the Company completed its initial public offering in December 2016.

Additionally, the Company announced today that its board of directors has declared a regular quarterly dividend of $0.5375 per share of the Company’s 9.00% Series A Cumulative Redeemable Preferred Stock.

The dividends are payable on January 16, 2018 to stockholders of record at the close of business on December 29, 2017.

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 medical-use cannabis facilities. Innovative Industrial Properties, Inc. intends to elect to be taxed as a real estate investment trust. Additional information is available at www.innovativeindustrialproperties.com.

Original press release

Before this cannabis stock news is here, it’s published to subscribers on 420 Investor.

Published by NCV Newswire
NCV Newswire
The NCV Newswire by New Cannabis Ventures aims to curate high quality content and information about leading cannabis companies to help our readers filter out the noise and to stay on top of the most important cannabis business news. The NCV Newswire is hand-curated by an editor and not automated in anyway. Have a confidential news tip? Get in touch.

Get Our Sunday Newsletter