Innovative Industrial Properties Declares Fourth Quarter 2018 Dividends
December 14 2018 - 7:00AM
Business Wire
Seventh Consecutive Quarterly Common Stock
Dividend
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 2018
dividend of $0.35 per share of common stock. The dividend is
equivalent to an annualized dividend of $1.40 per common share, and
is the seventh 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 $0.5625 per
share of the Company's 9.00% Series A Cumulative Redeemable
Preferred Stock.
The dividends are payable on January 15, 2019 to stockholders of
record at the close of business on December 31, 2018.
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. has elected to be taxed as a real estate investment trust,
commencing with the year ended December 31, 2017. Additional
information is available at
www.innovativeindustrialproperties.com.
This press release contains statements that the Company believes
to be “forward-looking statements” within the meaning of the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. All statements other than historical facts are
forward-looking statements. When used in this press release, words
such as we “expect,” “intend,” “plan,” “estimate,” “anticipate,”
“believe” or “should” or the negative thereof or similar
terminology are generally intended to identify forward-looking
statements. Such forward-looking statements are subject to risks
and uncertainties that could cause actual results to differ
materially from those expressed in, or implied by, such statements.
Investors should not place undue reliance upon forward-looking
statements. The Company disclaims any obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20181214005010/en/
Company Contact:Catherine HastingsChief Financial Officer, Chief
Accounting Officer and TreasurerInnovative Industrial Properties,
Inc.(858) 997-3332
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