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| Innovative Industrial Properties Series A Cumulative Redeemable Preferred Stock Ex-Dividend ReminderBy Preferred Stock Channel Staff, Tuesday, September 26, 1:43 PM ET
On 9/28/23, 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 10/13/23. As a percentage of IIPR.PRA's recent share price of $25.98, this dividend works out to approximately 2.17%, so look for shares of IIPR.PRA to trade 2.17% lower — all else being equal — when IIPR.PRA shares open for trading on 9/28/23. On an annualized basis, the current yield is approximately 8.66%, which compares to an average yield of 8.11% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, IIPR.PRA was trading at a 3.88% premium to its liquidation preference amount. 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: Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter
In Tuesday trading, Innovative Industrial Properties Inc's 9.00% Series A Cumulative Redeemable Preferred Stock (NYSE:IIPR.PRA) is currently trading flat on the day, while the common shares (NYSE:IIPR) are down about 1.5%.
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