These Two Cannabis Industry Lenders Declared Dividends For Q1 2023

Innovative Industrial Properties, Inc., IIPR and Chicago Atlantic Real Estate Finance, Inc. REFI both declared a first quarter 2023 dividends.

Innovative Industrial Properties

Innovative Industrial Properties’ board of directors has declared dividend of $1.80 per share of common stock. The common stock dividends declared for the last twelve months of $7.15 per common share represent an increase of $1.00, or 16%, over dividends declared for the prior twelve months.

Additionally, IIP announced that its board of directors has declared a regular quarterly dividend of $0.5625 per share of IIP’s 9.00% series A cumulative redeemable preferred stock.

The dividends are payable on April 14, 2023 to stockholders of record at the close of business on March 31, 2023.

Chicago Atlantic Real Estate Finance

Chicago Atlantic Real Estate Finance’s board of directors has declared a regular quarterly cash dividend of $0.47 per share. The dividend, which equates to an annualized rate of $1.88 per common share, is payable on April 14, 2023, to shareholders of record as of the close of business on March 31, 2023.

In light of the recent news regarding Silicon Valley Bank and Signature Bank New York, the Chicago Atlantic team has assessed the portfolio companies it invests in and has found that they have no exposure to Silicon Valley Bank, Signature Bank New York or First Republic Bank.

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