Innovative Industrial Properties, Inc's. (IIP) IIPR board of directors has declared a second quarter 2022 dividend of $1.75 per share of common stock. The dividend is equivalent to an annualized dividend of $7.00 per common share.
Additionally, IIP's 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 July 15, 2022 to stockholders of record at the close of business on June 30, 2022.
As previously disclosed, IIP’s board of directors evaluates adjustments to the level of IIP’s quarterly common stock dividend every six months, with any adjustments expected to be declared in the first quarter and third quarter of each year. However, the decision to declare and pay dividends in any quarter continues to be at the sole discretion of IIP’s board of directors.
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.
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