Cannabis REIT Giants IIPR, AFC Gamma Announce Q3 Dividends: Historic Payouts Nearing $1B
Two prominent players in the cannabis finance industry, Innovative Industrial Properties Inc (NYSE:IIPR) and AFC Gamma (NASDAQ:AFCG), have declared third-quarter 2024 dividends. Both companies, each with a unique approach to serving the U.S. cannabis market, provide crucial financial backing through real estate and lending solutions.
Innovative Industrial Properties Declares $1.90 Dividend
Innovative Industrial Properties (IIP), the pioneering real estate investment trust (REIT) focused on the U.S. cannabis sector, continues its streak of rewarding shareholders.
The company announced a third-quarter dividend of $1.90 per common share, translating to an annualized dividend of $7.60 per share. This marks IIP’s 30th consecutive quarterly dividend since its inception in 2016.
Paul Smithers, president and CEO of IIP, expressed his enthusiasm for the milestone: “We are proud to declare our 30th consecutive quarterly dividend since our inception in 2016. Since then, we have continued to share our growing cash flows with our stockholders by declaring …