Cannabis REIT Innovative Industrial Properties Declares Q1 2022 Dividends

Board of directors of Innovative Industrial Properties, Inc. (NYSE:IIPR) has declared a first quarter 2022 dividend of $1.75 per share of common stock, representing an approximately 17% increase over IIP’s fourth quarter 2021 dividend of $1.50 per share of common stock, and an approximately 33% increase over IIP’s first quarter 2021 dividend of $1.32 per share of common stock. The dividend is equivalent to an annualized dividend of $7.00 per common share.

Additionally, IIP 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 April 14, 2022 to stockholders of record at the close of business on March 31, 2022.

Price Action

Innovative shares were trading 0.58% higher at $188 per share during Monday's pre-market session.