Cash Dividend On The Way From Innovative Industrial Properties Inc's 9.00% Series A Cumulative Redeemable Preferred StockBy Preferred Stock Channel Staff, Monday, September 27, 1:32 PM ETOn 9/29/21, Innovative Industrial Properties Inc's 9.00% Series A Cumulative Redeemable Preferred Stock (NYSE:IIPR.PRA) will trade ex-dividend, for its quarterly dividend of $0.5625, payable on 10/15/21. As a percentage of IIPR.PRA's recent share price of $35.60, this dividend works out to approximately 1.58%, so look for shares of IIPR.PRA to trade 1.58% lower — all else being equal — when IIPR.PRA shares open for trading on 9/29/21. On an annualized basis, the current yield is approximately 6.45%, which compares to an average yield of 6.07% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, IIPR.PRA was trading at a 39.60% premium to its liquidation preference amount, versus the average premium of 5.50% in the "Real Estate" category. The chart below shows the one year performance of IIPR.PRA shares, versus IIPR:
Below is a dividend history chart for IIPR.PRA, showing historical dividends prior to the most recent $0.5625 on Innovative Industrial Properties Inc's 9.00% Series A Cumulative Redeemable Preferred Stock: Free Report: Top 7%+ Dividends (paid monthly)
In Monday trading, Innovative Industrial Properties Inc's 9.00% Series A Cumulative Redeemable Preferred Stock (NYSE:IIPR.PRA) is currently up about 2% on the day, while the common shares (NYSE:IIPR) are down about 0.6%.
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