Innovative Industrial Properties Declares Fresh Dividend
On Friday, Innovative Industrial Properties (NYSE: IIPR) made its first dividend declaration of 2020, announcing it will distribute $1.00 per share on April 15 to stockholders of record as of the close of business March 31. At Friday's closing share price, that would give it an annualized yield of just about 5.6%.
The payout is equal to the one handed out in January, but the company was not shy to point out that it's 122% higher than that declared at the beginning of 2019.
Since Innovative is a real estate investment trust, it's required to distribute at least 90% of its net profits to shareholders in the form of dividends.
Source Fool.com
