Innovative Industrial Properties Declares Fourth Quarter 2017 Dividends
SAN DIEGO, Calif., Dec 15, 2017 (BUSINESS WIRE) — 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 2017 dividend of $0.25 per share of common stock, representing a 67% increase over the Company’s third quarter 2017 dividend of $0.15 per share of common stock. The dividend is equivalent to an annualized dividend of $1.00 per common share, and is the third 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 $0.5375 per share of the Company’s 9.00% Series A Cumulative Redeemable Preferred Stock.
The dividends are payable on January 16, 2018 to stockholders of record at the close of business on December 29, 2017.
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. intends to elect to be taxed as a real estate investment trust. Additional information is available at www.innovativeindustrialproperties.com.
