Innovative Industrial Properties Inc dividend history

Innovative Industrial Properties Inc paid $216m in dividends in fiscal 2025. That was 182.9% of net income.

Dividends, buybacks and capital spending

FY2026 Q2 TTM

Buybacks (TTM): $89M
Dividends (TTM): $216M
Returned to shareholders: 250%; of free cash flow
Buybacks, last 3 fiscal years: $20.1M
Diluted share count: +0.9%; year over year
Total shareholder yield: 20.3%; dividends 14.4% + buybacks 5.9% of market value
Dividend payout ratio: 157%; of net income paid out

Dividends by fiscal year

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Innovative Industrial Properties Inc: dividends by fiscal year, annual
Fiscal year	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Dividends paid	1	7	23	75	131	184	203	212	216	216
Share buybacks	0	—	—	—	—	—	0	0	20	89
Dividends ÷ net income	—	95.1%	96.2%	114.8%	114.9%	119.1%	122.4%	131.1%	182.9%	156.6%
Dividends ÷ free cash flow	—	42.3%	50.3%	68.1%	69.4%	78.6%	79.3%	82.0%	109.1%	—

Dividend per share is the amount declared for the fiscal year as stated in the company's filings (including any special dividend), restated for stock splits and checked against the cash dividends paid. Dividends paid and buybacks are cash amounts; the last-twelve-months column can include an extra payment when a quarter-end date moves.

Compare with peers

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Figures from Innovative Industrial Properties Inc's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Innovative Industrial Properties Inc.