Top Cannabis Stock Pick for 2020, Innovative Industrial Properties, Declares First Quarter 2020 Dividends
Industrial Properties (NYSE: IIPR) is a picks-and-shovels cannabis stock which is fairly insulated from cannabis market volatility. The company receives income through long-term lease agreements with cannabis company operators that often agree to lease agreements of usually between 10 and 15 years. This long-term lease agreement ensures that the company will receive regular income and along with it comes zero impact from the supply and demand of the cannabis market. Our analysts continually monitor and review the financials and fundamentals behind Innovative Industrial Properties (NYSE: IIPR) and firmly believe that it is one of the top cannabis stock picks for 2020.
Featured Cannabis Stock Pick for 2020: Innovative Industrial Properties
Innovative Industrial Properties was recommended earlier by our analysts as a great cannabis investment as it is considered a cannabis stock parallel. As mentioned previously, the company is not a producer or cultivator of cannabis and does not directly handle the cannabis plant in any way whatsoever. Instead, the company receives income through lease agreements with cannabis company operators who utilize Innovative Industrial Properties’ locations to cultivate cannabis or produce cannabis products. Recently, we recommended Innovative Industrial Properties because of its long-term lease agreement revenues, expansion with real estate property acquisitions, strong year-over-year growth, a new Florida property acquisition and long-term lease agreement, and now the company has announced the first quarter dividend for 2020. But what does the first quarter 2020 dividend declaration have to do with the stock being a cannabis stock pick for 2020?
Dividends are a great way for investors to generate gains based on the number of shares that they are holding over a long period of time. Investors receive a dividend payout on a quarterly basis, four times annually per share. Those who purchase a share of Innovative Industrial Properties before market close on March 31st will receive the dividend payout for Q1 of 2020. The dividend payout amount is a great way to gauge a company’s success if it has increased the payout amount and, in this case, Innovative Industrial Properties has increased its dividend significantly.
Innovative Industrial Properties, which is the first and only real estate company currently listed on the New York Stock Exchange, announced that its board of directors declared its first-quarter dividend for 2020. For the first quarter of 2020, Innovative Industrial Properties will pay a dividend of $1.00 per share of common stock. This dividend payout represents a 122% year-over-year increase when compared to 2019’s first-quarter dividend payout of $0.45 per share. Investors who purchase shares of Innovative Industrial Properties before market close on the ex-dividend date of March 31st will receive the $1 dividend per share that also represents an annualized dividend of $4 per share of the company.
Also, Innovative Industrial Properties announced that its board of directors declared a regular quarterly dividend of $0.5625 per share of the company’s 9.00% Series A Cumulative Redeemable Preferred Stock.
Once again, investors must hold shares before market close on March 31st to receive the Q1 2020 dividend payout of $1 per share of Innovative Industrial Properties that will be made out to stockholders on April 15, 2020.
Featured Cannabis Stock Pick for 2020, Innovative Industrial Properties, Declares First Quarter 2020 Dividends
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