Innovative Industrial Properties, Inc. · IIPR · NYSE
Dividend report · updated Nov 11, 2026
$54.84 -0.40% on the day, -$0.22
IIPR stock page: price, charts & signals →
UnlockDividend Safety Rating: paid plans onlyDividend Safety Rating: paid plans only Is IIPR’s dividend Very Safe or High Risk? 11 checks scored. Payout ratio, raise streak, recession record and 8 more. Show the rating
Yearly payout / yield
$7.60·13.86%
$1.90 quarterly x 4 ⓘ
Next payment
~$1.90/qtr
pays ~Jan 2, 2027 (est.) ⓘ
Next ex-date
Dec 31est.
own by Dec 30 ⓘ
Years without a cut
8+ yrs
8+ yrs of raises ⓘ
Paying since
2017
39 payments on file
Yield vs history ⓘ
77
Above its usual yield
IIPR share price & total return
Daily closing price, adjusted for stock splits.
IIPR stock page »All dividend lists »Build a portfolio around IIPR »
DSRSimilar stocksHistoryPayoutsFAQ
Last 20 payments
IIPR Dividend Growth (CAGR) ⓘ
1Y 0.0%3Y +1.4%5Y +4.8%
Per-share amount, by the date it paid (~ = about, from its usual pay gap). The enlarge button shows all 39 payments since 2017.
Annual dividends and growth
Total paid per share in each calendar year. Years with an extra or a missing payment (dates sliding across New Year) are compared per payment.
Next 5 years if the pace holds
If the recent pace holds — one-off jumps left out. Not a forecast. Pace: 0% a year, its typical raise over the last 5 years. Today's $7.60 a year would stay $7.60 by 2031 - 13.86% on today's $54.84 price.

How Many IIPR Shares for $500 or $1,000 a Month?

At $7.60 a share a year, $500 a month takes about 790 IIPR shares, about $43,324 at the Nov 11, 2026 close of $54.84. $1,000 a month takes about 1,579 shares, about $86,592. Before taxes, and only while the rate holds.

Innovative Industrial Properties (IIPR) pays $1.90 a share quarterly, $7.60 a year, a 13.86% run-rate yield at the Nov 11, 2026 close of $54.84. It has paid since 2017 and raised its annual dividend 8+ years in a row.

At today’s rate of $1.90 quarterly and the last close of $54.84, this is what IIPR pays before taxes, if the rate stays where it is:

You holdEach paymentPer month (avg)Per year
1 share$1.90$0.63$7.60
100 shares$190.00$63.33$760.00
$10,000 invested (182.3 shares)$346.46$115.49$1,385.85
790 shares ($500/mo)$1,501.00$500.33$6,004.00
1,579 shares ($1,000/mo)$3,000.10$1,000.03$12,000.40

With DRIP on, every payment buys more shares instead of landing as cash. 100 IIPR shares reinvest into 3.46 new shares each payment, about 14.6 new shares a year at today’s price and rate, and each new share collects the next payment too. To DRIP one whole new share every payment you need about 29 shares. Raises speed that up; a falling share price buys more shares per payment, but each is worth less. See the snowball over 10 to 30 years with IIPR’s own history in the IIPR DRIP calculator.

UnlockDividend Safety Rating: paid plans only
Dividend Safety Rating Not financial advice
See IIPR’s rating and its 11 factors.
See the rating & factors »
An algorithmic rating built from reported data, not a recommendation.
  • Coverage (EPS): are profits enough to pay the dividend rating
  • Coverage (cash flow): does cash from the business cover the dividend rating
  • Dividend vs cash flow + debt: is the dividend paid with borrowed money report
  • Debt load: how much the balance sheet leans on borrowing rating
  • Debt interest coverage: can profits easily pay the interest bill rating
  • Earnings direction: are sales and profits growing or shrinking report
  • Liquidity: is there cash for debts due this year rating
  • Raise streak: how many years in a row it raised see details
  • Years without a cut: how long since the last dividend cut see details
  • Raise vs trend: are recent raises keeping their usual pace history
  • Yield vs history: is today’s yield high or low versus its past rating
  • Recession record: what the dividend did in past crashes history

IIPR Dividend Yield Today vs Its 5-Year Range

77/100Above its usual yieldvs its 9-yr history
  • IIPR yields 13.86% today, at the Nov 11, 2026 close of $54.84.
  • Its own 9-year median is 5.10%, so today’s yield is above its usual level.
Last 5 years: lowest to highest month-end yield
2.28% low16.05% high
Blue mark = today, grey = its 9-year median. A higher yield than usual means a lower price against the payout.

Where today ranks in its own history is in the paid report

How it works. Each month-end over the last 9 years gives one yield: the regular payment then, times payments a year, over that day’s close. Specials are left out. 50 means today’s yield sits right at its usual level. A lower score means the yield is below its usual level, so the price is high against the payout. A higher score means the yield is above its usual level. On price alone a payer stays between 15 and 85. Steady raisers get a few points back. It reads the past, not the future.

When Is IIPR’s Next Dividend? Ex-Date and Pay Date After October 2026

IIPR has not declared its next dividend yet. By its usual rhythm of about 92 days between ex-dates, the next ex-date falls around Dec 31, 2026, with the cash around Jan 2, 2027. An estimate, not a promise: only the declaration makes it final. The latest one, $1.90 a share, went ex on Sep 30, 2026 and paid Oct 2, 2026.

  • Ex-dates: about every 92 days (quarterly)
  • Payment: usually about 2 days after the ex-date

Every payer going ex-dividend this week is on the dividend calendar.

How Often Does IIPR Pay?

IIPR pays quarterly, 4 times a year. Recent payments arrived in Jan, Apr, Jul and Oct, with ex-dates in Mar, Jun, Sep and Dec. The ex-date comes about every 92 days, and the cash usually lands about 2 days later.

Paid in the last 12 months
$7.60 a share, in 4 payments.
+0.0% against the 12 months before ($7.60 in 4 payments).
Cash that landed, by pay date. The yield up top uses today’s rate instead, so a raise or a cut shows there first.
Payout months
JanFebMarAprMayJunJulAugSepOctNovDec
Pays in Jan, Apr, Jul and Oct. Ex-dates fall in Mar, Jun, Sep and Dec (latest 4 payments).
Raise history
  • Streak: 8+ years of higher annual totals (through 2025)
  • Last raise: Jun 27, 2024 - $1.82 to $1.90 (+$0.08, +4.40%)
  • Usual $ step: $0.05 (median of the raises before it)
Coverage
  • FFO payout (approx.): 98.4% - $7.60 paid / $7.72 FFO per share (net income + depreciation & amortization, 4 quarters to Sep 30, 2026)
  • Cash-flow payout: 107.9% - $7.60 paid / $7.04 operating cash flow per share (4 quarters to Sep 30, 2026); own 4-yr norm 83.8% (median of 12 earlier trailing years)
  • GAAP EPS payout (context): 171.6% - $7.60 paid / $4.43 EPS (4 quarters to Sep 30, 2026); own 4-yr norm 128.6% (median of 12 earlier trailing years)
REITs pay from funds from operations; GAAP EPS understates coverage.

IIPR vs Similar Dividend Stocks (GNL, EFC...)

Against the 10 dividend-paying Real Estate companies closest to IIPR in market value, IIPR’s 13.86% run-rate yield is above the group’s middle yield of 6.18%, and its raise streak of 8+ years is the longest. A higher yield than the group is not a bonus by itself: it is often the market pricing in a cut, so read it next to the rating and the coverage behind it.

Ticker Dividend ⓘ Yield Safety Rating No cut ⓘ
IIPR $54.84Innovative Industrial Properties $1.90/qtr$7.60/yr fwd 13.86% Dividend Safety Rating: paid plans only 8+ yrsraised 8+ yrs in a row
GNL $6.85Global Net Lease $0.19/qtr$0.76/yr fwd 11.09% Dividend Safety Rating: paid plans only 0 yrsno raise streak
EFC $11.35Ellington Financial $0.13/mo$1.56/yr fwd 13.74% Dividend Safety Rating: paid plans only 2 yrsno raise streak
CBL $52.54CBL & Associates Properties $0.625/qtr$2.50/yr fwd 4.76% Dividend Safety Rating: paid plans only 3+ yrsraised 3+ yrs in a row
PMREF $16.25Primaris Real Estate Investment Trust $0.052/mo$0.62/yr fwd 3.84% Dividend Safety Rating: paid plans only 1+ yrraised 1+ yr in a row
EQR $58.72Equity Residential $0.7025/qtr$2.81/yr fwd 4.79% Dividend Safety Rating: paid plans only 9 yrsraised 4 yrs in a row
DEI $10.00Douglas Emmett $0.19/qtr$0.76/yr fwd 7.60% Dividend Safety Rating: paid plans only 3 yrsno raise streak
AAT $21.55American Assets Trust $0.34/qtr$1.36/yr fwd 6.31% Dividend Safety Rating: paid plans only 5 yrsraised 5 yrs in a row
ALX $249.95Alexander's $4.50/qtr$18.00/yr fwd 7.20% Dividend Safety Rating: paid plans only 12 yrsno raise streak
DHC $7.40Diversified Healthcare Trust $0.01/qtr$0.04/yr fwd 0.54% Dividend Safety Rating: paid plans only 5 yrsno raise streak
UMH $14.90UMH Properties $0.225/qtr$0.90/yr fwd 6.04% Dividend Safety Rating: paid plans only 17 yrsraised 5 yrs in a row

Yield and the safety rating are only half of it. See total returns with dividends reinvested, side by side: IIPR vs GNL, IIPR vs EFC, IIPR vs CBL.

IIPR Dividend History: Every Payment Since 2017

Ex-datePay dateAmountFrequencyType
Sep 30, 2026Oct 2, 2026$1.90QuarterlyRegular
Jun 30, 2026Jul 2, 2026$1.90QuarterlyRegular
Mar 31, 2026Apr 2, 2026$1.90QuarterlyRegular
Dec 31, 2025Jan 2, 2026$1.90QuarterlyRegular
Sep 30, 2025Oct 2, 2025$1.90QuarterlyRegular
Jun 30, 2025Jul 2, 2025$1.90QuarterlyRegular
Mar 31, 2025Apr 2, 2025$1.90QuarterlyRegular
Dec 31, 2024Jan 2, 2025$1.90QuarterlyRegular
Sep 30, 2024Oct 2, 2024$1.90QuarterlyRegular
Jun 28, 2024Jul 1, 2024$1.90QuarterlyRegular
The other 29 IIPR payments come with a paid plan.
Show all 39 payments »
Newest first. Amounts are per share as paid, restated for splits; frequency is the schedule on file for that payment; a payment over 2.5x its neighbours is marked special.
From reported payments, prices and filings — data, not investment advice.

What the Dividend Safety Rating Means for IIPR

UnlockDividend Safety Rating: paid plans only
See where IIPR lands, and why.
See the rating & factors »
Own IIPR? Your payouts fill in by themselves Add IIPR once, with your buy date and share count. Every dividend since fills in, dated and in dollars, and with DRIP on each new share is counted for you.
Track IIPR →

IIPR Dividend Questions

How often does IIPR pay dividends?

IIPR pays quarterly, 4 times a year. Recent payments arrived in Jan, Apr, Jul and Oct, with ex-dates in Mar, Jun, Sep and Dec. The ex-date comes about every 92 days, and the cash usually lands about 2 days later.

Does IIPR pay dividends monthly?

No. IIPR pays quarterly, 4 times a year. For payers that pay every month, see the monthly dividend stocks.

When is the next IIPR dividend?

IIPR has not declared its next dividend yet. By its usual rhythm of about 92 days between ex-dates, the next ex-date falls around Dec 31, 2026, with the cash around Jan 2, 2027. An estimate, not a promise: only the declaration makes it final. The latest one, $1.90 a share, went ex on Sep 30, 2026 and paid Oct 2, 2026. The current rate is $1.90 per share, $7.60 a year.

Does IIPR pay a dividend in January 2027?

Not declared yet. By its usual rhythm the next ex-date falls around Dec 31, 2026, with the cash around Jan 2, 2027, so a payment in January 2027 is likely. Only the company’s declaration makes it final.

How much does IIPR pay per share?

IIPR pays $1.90 a share quarterly, $7.60 a year. At the Nov 11, 2026 close of $54.84 that is a 13.86% run-rate yield, above its usual level: its own 9-year median is 5.10%.

Has IIPR raised its dividend?

Yes. IIPR has raised its annual dividend 8+ years in a row, through 2025. The latest raise, on Jun 27, 2024, took the rate from $1.82 to $1.90 (+4.40%). Over five years the dividend grew 4.8% a year.

Is IIPR’s dividend safe?

No rating can promise a future payment, but the record on file says a lot. IIPR paid out 108% of its cash flow as dividends over the 4 quarters to Sep 30, 2026. It has raised its dividend 8+ years in a row and gone 8+ years without a cut. This is data, not investment advice. The full 11-check rating comes with a plan.

How do I track my IIPR dividends?

Add IIPR to a free DRIPCalc portfolio once, with your buy date and share count. Every payout since fills in, dated and in dollars; with DRIP on, the new shares each payment buys are counted for you, so there is no spreadsheet to update and no broker login. To project the snowball, run IIPR in the DRIP calculator.

More Dividend Lists and Tools

IIPR Stock: Price, Earnings & Charts » IIPR DRIP Calculator » All Dividend Lists & Tools »Dividend Portfolio Builder HOT »Recession-Proof Dividend Stocks HOT »Best Crash Recovery Stocks NEW »Safest Dividend Stocks NEW »Ex-Dividend Calendar »Dividend Raises This Month »Latest Dividend Cuts »Dividend Kings (50+ yrs) »Track Your Own Stocks »
How this page is built: the rate is the latest regular dividend per share; run-rate yield = rate × payments per year ÷ last close (Nov 11, 2026), never a trailing 12-month total, which lags after a raise and hides a cut. Specials and one-off payments never count in the rate; a payer whose regular payments differ in size is annualized over its last full cycle of regular payments. Raise streak = consecutive calendar years with a higher amount per payment than the year before; years without a cut = years in which the amount per payment held within 1%. The Dividend Safety Rating reads 11 visible lines: coverage, streak, raise pace and yield range for dividend stocks; NAV trend, NAV funding and payout stability for income funds. Similar payers = the same sector or fund group, nearest in market value or fund size. Payments, prices and filings come from DRIPCALC’s price and dividend database. History is not a forecast. This is data, not investment advice.