Innovative Industrial Properties Raises Dividend by 6%
Times may be tough for marijuana companies, but Innovative Industrial Properties (NYSE: IIPR) isn't letting that trend deter it from hiking its dividend. On Tuesday, the real estate investment trust (REIT) announced that its next quarterly common stock dividend will be $1.06 per share, up from the $1 per share it paid in April.
The new dividend will be distributed on July 15 to investors of record as of June 30. At the most recent closing stock price, it would yield nearly 4.3%.
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Source Fool.com