IIPR Dividend History & Analysis | 14.5% Yield

IIPR has a dividend yield of 14.5% and paid 7.6 USD per share in the last 12M. Complete payout history, full analyses and peer comparison.

Yield 12m 14.51%
Payout Ratio 2.7%
Growth Rate CAGR 5y 7.36%
Consistency Lifetime 100.0%
Yield on Cost 5y 5.24%
Payout FCF 116.2%
Streak Years 9
Dividend Rating 79.22%

Dividends Cash Amount per Share Yearly

This chart shows the yearly cash amount paid as dividends per share. The exact values for each year can be found in the structured dataset with the html-id #yearly_dividend_dataset below.
Dividend Growth Year over Year This chart shows the annual dividend growth rate compared to the previous year.
5 Years Chart with Price and Dividend Yield This chart shows the dividend yield and price over time. Price is displayed as gray area (left axis), yield as dark blue line (right axis), and average yield as orange dashed line.
■ Yield (right) | ■ Price (left) | ┅ Avg Yield
Total Return 12m: -24.6%
Total Return 5y: -66.5%

Top Dividend Payers in Industrial REITs

Top 5 Dividend Yields of Peer-Group
Symbol Market Cap USD Dividend Yield TTM Yield on Cost 5y
STAG 7,149 M 3.79% 6.78%
EGP 9,690 M 3.42% 4.67%
FR 7,921 M 3.38% 4.74%
PLD 121,273 M 3.54% 4.34%
TRNO 6,357 M 3.43% 3.83%
Top 5 Dividend Growth Rates of Peer-Group
Symbol Market Cap USD Growth Rate Consistency
LINE 8,920 M 133% 100%
REXR 9,923 M 15.7% 100%
EGP 9,690 M 13.3% 96.2%
FR 7,921 M 13.3% 83.6%
TRNO 6,357 M 12.5% 99.4%

IIPR Dividend History: Last 35 Payments (USD) as of February 2026

Ex-Dividend Date Record Date Payment Date Period Dividend per Share Dividend Growth Rate QoQ Payout Yield
2025-12-31 2025-12-31 2026-01-15 Quarterly 1.9 0% 3.99%
2025-09-30 2025-09-30 2025-10-15 Quarterly 1.9 0% 3.57%
2025-06-30 2025-06-30 2025-07-15 Quarterly 1.9 0% 3.42%
2025-03-31 2025-03-31 2025-04-15 Quarterly 1.9 0% 3.52%
2024-12-31 2024-12-31 2025-01-15 Quarterly 1.9 0% 2.88%
2024-09-30 2024-09-30 2024-10-15 Quarterly 1.9 0% 1.42%
2024-06-28 2024-06-28 2024-07-15 Quarterly 1.9 4.4% 1.74%
2024-03-27 2024-03-28 2024-04-15 Quarterly 1.82 0% 1.77%
2023-12-28 2023-12-29 2024-01-12 Quarterly 1.82 1.1% 1.79%
2023-09-28 2023-09-29 2023-10-13 Quarterly 1.8 0% 2.37%
2023-06-29 2023-06-30 2023-07-14 Quarterly 1.8 0% 2.47%
2023-03-30 2023-03-31 2023-04-14 Quarterly 1.8 0% 2.39%
2022-12-29 2022-12-30 2023-01-13 Quarterly 1.8 0% 1.77%
2022-09-29 2022-09-30 2022-10-14 Quarterly 1.8 2.9% 1.98%
2022-06-29 2022-06-30 2022-07-15 Quarterly 1.75 0% 1.57%
2022-03-30 2022-03-31 2022-04-14 Quarterly 1.75 16.7% 0.84%
2021-12-30 2021-12-31 2022-01-14 Quarterly 1.5 0% 0.58%
2021-09-29 2021-09-30 2021-10-15 Quarterly 1.5 7.1% 0.64%
2021-06-29 2021-06-30 2021-07-15 Quarterly 1.4 6.1% 0.72%
2021-03-30 2021-03-31 2021-04-15 Quarterly 1.32 6.5% 0.76%
2020-12-30 2020-12-31 2021-01-15 Quarterly 1.24 6% N/A
2020-09-29 2020-09-30 2020-10-15 Quarterly 1.17 10.4% N/A
2020-06-29 2020-06-30 2020-07-15 Quarterly 1.06 6% N/A
2020-03-30 2020-03-31 2020-04-15 Quarterly 1 0% N/A
2019-12-30 2019-12-31 2020-01-15 Quarterly 1 28.2% N/A
2019-09-27 2019-09-30 2019-10-15 Quarterly 0.78 30% N/A
2019-06-27 2019-06-28 2019-07-15 Quarterly 0.6 33.3% N/A
2019-03-28 2019-03-29 2019-04-15 Quarterly 0.45 28.6% N/A
2018-12-28 2018-12-31 2019-01-15 Quarterly 0.35 0% N/A
2018-09-27 2018-09-28 2018-10-15 Quarterly 0.35 40% N/A
2018-06-28 2018-06-29 2018-07-16 Quarterly 0.25 0% N/A
2018-03-28 2018-03-29 2018-04-16 Quarterly 0.25 0% N/A
2017-12-28 2017-12-29 2018-01-16 Quarterly 0.25 66.7% N/A
2017-09-28 2017-09-29 2017-10-13 Quarterly 0.15 0% N/A
2017-06-28 2017-06-30 2017-07-14 Quarterly 0.15 0% N/A

IIPR Dividend FAQ

Innovative Industrial Properties, Inc. (NYSE:IIPR) is a publicly traded real-estate investment trust that acquires, owns, and manages purpose-built industrial facilities leased primarily to regulated cannabis operators and other life-science tenants.

What is the Dividend Yield of IIPR?

As of February 2026, IIPR`s dividend yield is 14.51%. This is calculated by dividing the trailing 12-month dividend rate (TTM rate) of 7.60 USD by the current share price of 48.65.

Does IIPR pay a dividend?

As of February 2026, IIPR paid a dividend of 7.60 USD in the last 12 months. The last dividend was paid on 2025-12-31 and the payout was 1.9 USD.

How often does IIPR pay dividends?

IIPR pays dividends quarterly. Over the last 12 months, IIPR has issued 4 dividend payments. The last dividend payment was made on 2025-12-31.

IIPR dividend forecast

Based on historical data, the forecasted dividends per share for IIPR for the next 4 payments are between 1.937 (+1.9%) and 1.98 (+4.2%).
This suggests the dividend will remain relatively stable.

Will IIPR pay dividends in 2026?

The latest dividend paid per share was 1.9 USD with an Ex-Dividend Date of 2025-12-31. The next Ex-Dividend date for Innovative Industrial (IIPR) is currently unknown.

What is the next Ex-Dividend Date for IIPR?

The next Ex-Dividend date for Innovative Industrial (IIPR) is currently unknown. We automatically update the next Ex-Dividend date when it is announced.

What is the Dividend Growth of IIPR?

IIPR's average dividend growth rate over the past 5 years is 7.36% per year.
Strong growth: IIPR's Dividend growth is outpacing inflation.

What is the Yield on Cost of IIPR?

IIPR's 5-Year Yield on Cost is 5.24%. If you bought IIPR's shares at 145.16 USD five years ago, your current annual dividend income (7.60 USD per share, trailing 12 months) equals 5.24% of your original purchase price.

What is the Payout Consistency of IIPR?

IIPR Payout Consistency is 100.0%. The payout consistency is a proprietary measure of how consistently a company has paid dividends over its lifetime and blends growth rate, number of dividend payments, interruptions or lowering dividends into one number.
Very consistent: Innovative Industrial has a strong track record of consistent dividend payments over its lifetime.

Does IIPR have a good Dividend Yield?

IIPR`s 14.51% Dividend Yield is considered as extremely high. Investors should watch out for NAV decline.

What is the Dividend Payout Ratio of IIPR?

The Dividend Payout Ratio of IIPR is 2.7%. Very low - Often a strong indicator of potential dividend growth.

What is the Dividend Rating of IIPR?

IIPR`s Overall Dividend Rating is 79.22%. Ratings surpassing 65% are regarded as acceptable, exceeding 75% are favorable and surpassing 85% are strong.

IIPR Outstanding Shares Analysis

What is the Trend in IIPR's Outstanding Shares?

Innovative Industrial's outstanding shares have increased by approximately 0.04% annually over the past 3 years (Trend Reliability: 33.3%).

Neutral: Share count is relatively stable with minor dilution. This has minimal impact on dividend per share calculations.

Has IIPR ever had a Stock Split?

No stock splits on record. The share count changes shown above reflect buybacks, new issuance, or employee compensation rather than structural splits.

Year Number of Shares Annual Growth Rate
2016 3,350,000
2017 5,883,600 +75.63%
2018 9,515,800 +61.73%
2019 12,044,600 +26.57%
2020 25,077,100 +108.2%
2021 26,263,600 +4.73%
2022 28,160,300 +7.22%
2023 28,279,800 +0.42%
2024 28,554,000 +0.97%
2025 28,303,600 -0.88%

Key Metric Definitions

Dividend Yield
Annual dividend per share divided by current share price.
Payout Ratio
Percentage of earnings paid as dividends. Below 60% = safe, above 100% = unsustainable.
Payout FCF
Percentage of Free Cash Flow paid as dividends. More reliable than Payout Ratio since it measures actual cash.
Growth Rate (CAGR)
Compound annual growth rate of dividends over the last 5 years.
Consistency
Reliability of dividend payments over lifetime. Penalizes cuts and pauses.
Yield on Cost
Your effective yield if you bought 5 years ago. Shows dividend growth impact over time.
Streak
Consecutive years of dividend payments. 25+ years = Dividend Aristocrat.
Dividend Rating
Proprietary score (0-100) combining yield, growth, safety and consistency.

Last update: 2026-02-05 02:39