Gaming and Leisure Properties Paying Special Dividend
Gaming and Leisure Properties (NASDAQ:GLPI) said today it’s paying a special dividend to investors — the a la mode(p) signalise shareholder rewards are returning inwards the gaming industry.
The gaming real land investiture corporate trust (REIT) said after the shut of US markets today it’s delivering a special payout of 24 cents a percentage on Jan 7, 2022 to shareholders of book on December 27, 2021.
While the Company intends to compensate habitue every quarter immediate payment dividends, all subsequent dividends, including fixture every quarter dividends and special earnings and profits dividends, will follow reviewed and stated by the Board of Directors at its discretion,” according to a statement issued past the Pennsylvania-based REIT.
Special dividends are one-off payments to investors. In the display case of GLPI, the aforementioned distribution is inward improver to its electric current every quarter payout of 67 cents a share. As of the fill up of markets today, shares of GLPI buckle under 5.81 percent, or more than 400 basis points in surplus of the Dow Mary Harris Jones U.S. Real Estate Capped Index.
GLPI Steady 2021
This year, GLPI is a solid, though not spectacular, performing artist as highlighted by a year-to-date take in of 8.8 percent.
GLPI owns the property assets of 48 gaming venues crosswise 16 states. Penn National Gaming (NASDAQ:PENN) is the landlord’s largest tenant, but it’s growing its client base. Earlier this month, the REIT said it’s paying $1.81 billion to gain the property assets of Live! Casino & Hotel Maryland, Live! Casino & Hotel Philadelphia, and Live! Casino Pittsburgh from the Cordish Companies.
Other GLPI tenants include Bally’s (NYSE:BALY), Boyd Gaming (NYSE:BYD) and Caesars Entertainment.
Spun off from William Penn inwards 2013, GLPI pioneered gaming REITs as standalone in public traded companies. Rivals MGM Growth Properties (NYSE:MGP) and VICI Properties followed in 2016 and 2017, respectively. Those two companies are merging, signification that when that dealing is completed, GLPI and VICI will stand as the only if 2 publically traded gaming REITs inward the US.
Shareholder Rewards Trickling Back inward Gaming Space
Many of the cassino operators that paid dividends prior to the coronavirus pandemic experience in time to restitute those payouts. But on that point are mounting signs industry counterbalance sheets are pavement the right smart for increasing shareholder rewards.
Red John Rock Resorts, Inc. (NASDAQ:RRR) recently declared a $3 per share special dividend, patch repurchasing more than $350 1000000 of its possess shares. International Game Technology (NYSE:IGT) and Melco Resorts & Entertainment (NASDAQ:MLCO), among others, also of late revealed buyback programs.
Earlier this week, GLPI contender MGP said it’s nurture its one-year dividend $2.10 a percentage from $2.08, marking the 16th clip that REIT boosted its payout since sledding public inwards 2016.
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