Marijuana REIT Innovative Industrial Properties Declares Q2 2023 Dividends

Innovative Industrial Properties, Inc., the first and only real estate company on the New York Stock Exchange IIPR focused on the regulated U.S. cannabis industry, announced that its board of directors has declared a second quarter 2023 dividend of $1.80 per share of common stock. The common stock dividends declared for the last twelve months of $7.20 per common share represent an increase of $0.70, or 11%, over dividends declared for the prior twelve months.

Additionally, IIPR announced that its 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 14, 2023 to stockholders of record at the close of business on June 30, 2023.

About Innovative Industrial Properties

Innovative Industrial Properties 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 has elected to be taxed as a real estate investment trust, commencing with the year ended December 31, 2017.

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