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Innovative Industrial Properties Declares First Quarter 2022 Dividends
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
dividends
Rhea-AI Summary
Innovative Industrial Properties (IIPR) announced a first quarter 2022 dividend of $1.75 per share, marking a 17% increase from the previous quarter's $1.50. This dividend translates to an annualized payment of $7.00 per share. Additionally, a quarterly dividend of $0.5625 per share is declared for the 9.00% Series A Preferred Stock. Both dividends are payable on April 14, 2022, to stockholders of record by March 31, 2022.
Positive
17% increase in common stock dividend from Q4 2021
First quarter 2022 dividend of $1.75 per share enhances shareholder income
Annualized dividend of $7.00 per share signals company confidence
Negative
None.
17% Increase from Prior Quarter Equates to Annualized Dividend of $7.00 per Share
SAN DIEGO--(BUSINESS WIRE)--
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 first quarter 2022 dividend of $1.75 per share of common stock, representing an approximately 17% increase over IIP’s fourth quarter 2021 dividend of $1.50 per share of common stock, and an approximately 33% increase over IIP’s first quarter 2021 dividend of $1.32 per share of common stock. The dividend is equivalent to an annualized dividend of $7.00 per common share.
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 April 14, 2022 to stockholders of record at the close of business on March 31, 2022.
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. 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 IIP “expects,” “intends,” “plans,” “estimates,” “anticipates,” “believes” 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.
