Innovative Industrial Properties As of July 20, 2021 ticker dps (an.) 2021 hike 2020 hike 2019 hike
IIPR $5.60 12.9% 24.0% 185.7%
Business yield Hike yrs 5 yr CAGR freq. paid since
Cannabis Facilities REIT 2.7% 4 N/A Quarter 2017
Innovative Industrial Properties hikes dividend by 6.1%

Innovative Industrial Properties (IIPR) will raise its quarterly dividend by 6.1 percent to $1.40 per share in Q2 of 2021. This follows a dividend hike of 6.5 percent to $1.32 per share announced in Q1 of 2021. 

The next dividend is payable on July 15, 2021 to stockholders of record at the close of business on June 30, 2021. A new annual rate of $5.60 per share yields 2.9% at a stock price of $189.25. This new dividend is the 11th dividend increase since IIP completed its initial public offering in December 2016.

Innovative Industrial Properties initiated its dividend in 2017 and hiked its dividend by a total of 185.7 percent in 2019. The total dividend increase in 2020 was exactly 24.0 percent. Innovative Industrial Properties pays an estimated annual dividend of $134 million to its shareholders after this new dividend hike just announced.

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 targets medical-use cannabis facilities for acquisition, including sale-leaseback transactions, with tenants that are licensed growers under long-term, triple-net leases. The company's properties are located in in Arizona, California, Colorado, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New York, Ohio and Pennsylvania. The company completed its initial public offering in December 2016 and paid its first quarterly dividend in 2017.

Dividend Calendar

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Ex-date Ticker Yield YTD hike
Jul 26 FAST 2.1% 12.0%
Jul 26 BK 2.8% 9.7%
Jul 26 COO 0.0% 0.0%
Jul 27 CLX 2.5% 4.5%
Jul 28 MMC 1.5% 15.1%
Jul 28 FRC 0.5% 10.0%
Jul 29 COST 0.8% 12.9%
Jul 29 PFE 3.8% 0.0%
Jul 29 CFG 3.7% 0.0%
Jul 29 LNT 2.8% 5.9%