Markets

Cash Dividend On The Way From Innovative Industrial Properties Series A Cumulative Redeemable Preferred Stock

On 9/27/19, Innovative Industrial Properties Inc's 9.00% Series A Cumulative Redeemable Preferred Stock (Symbol: IIPR.PRA) will trade ex-dividend, for its quarterly dividend of $0.5625, payable on 10/15/19. As a percentage of IIPR.PRA's recent share price of $29.30, this dividend works out to approximately 1.92%, so look for shares of IIPR.PRA to trade 1.92% lower — all else being equal — when IIPR.PRA shares open for trading on 9/27/19. On an annualized basis, the current yield is approximately 7.80%, which compares to an average yield of 6.63% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. The chart below shows the one year performance of IIPR.PRA shares, versus IIPR:

Performance Comparison Chart

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:

IIPR.PRA+Dividend+History+Chart

In Wednesday trading, Innovative Industrial Properties Inc's 9.00% Series A Cumulative Redeemable Preferred Stock (Symbol: IIPR.PRA) is currently up about 1.6% on the day, while the common shares (Symbol: IIPR) are up about 0.7%.

Click here to learn which S.A.F.E. dividend stocks also have preferred shares that should be on your radar screen »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

IIPR.PRA IIPR

Other Topics

Stocks Fixed Income