Innovative Industrial Properties Declares Second Quarter 2020 Dividends
June 15 2020 - 7:00AM
Business Wire
Common Stock Dividend Increased 6% from
Prior Quarter and 77% from Q2 2019
Innovative Industrial Properties, Inc. (IIP), the first and only
real estate company on the New York Stock Exchange (NYSE: IIPR)
focused on the regulated U.S. cannabis industry, announced today
that its board of directors has declared a second quarter 2020
dividend of $1.06 per share of common stock, representing a 6%
increase over IIP's first quarter 2020 dividend of $1.00 per share
of common stock, and an approximately 77% increase over IIP's
second quarter 2019 dividend of $0.60 per share of common stock.
The dividend is equivalent to an annualized dividend of $4.24 per
common share, and is the seventh dividend increase since IIP
completed its initial public offering in December 2016.
Additionally, IIP announced today 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 15, 2020 to stockholders of
record at the close of business on June 30, 2020.
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 IIP 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. IIP 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/20200615005060/en/
IIP Contact: Catherine Hastings Chief Financial Officer, Chief
Accounting Officer and Treasurer Innovative Industrial Properties,
Inc. (858) 997-3332
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