Marijuana REIT IIP Declares Q4 Dividends Of $1.50 Per Share

Innovative Industrial Properties, Inc. (NYSE: IIPR) announced Wednesday that its board of directors has declared a fourth quarter dividend of $1.50 per share of common stock. The dividend is equivalent to an annualized dividend of $6.00 per common share.

The dividend announcement comes on heels of the company’s $72.7 million acquisition of a portfolio of 27 properties in Colorado, Pennsylvania and North Dakota that are 100% leased for use as regulated cannabis dispensing, processing and/or …

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