Gaming and Leisure Properties Paying Special Dividend
Gaming and Leisure Properties (NASDAQ:GLPI) said today it’s paying a special dividend to investors — the latest ratify shareholder rewards are returning inwards the gaming industry.
The gaming real landed estate investiture combine (REIT) said after the closemouthed of US markets today it’s delivering a special payout of 24 cents a portion on Jan 7, 2022 to shareholders of track record on December 27, 2021.
While the Company intends to pay habitue quarterly hard cash dividends, all subsequent dividends, including steady every quarter dividends and special earnings and profits dividends, testament live reviewed and declared past 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 compositor's case of GLPI, the aforementioned dispersion is inward addition to its electric current every quarter payout of 67 cents a share. As of the fill up of markets today, shares of GLPI soften 5.81 percent, or more than 400 basis points in surplus of the Dow John Paul Jones U.S. Real Estate Capped Index.
GLPI Steady 2021
This year, GLPI is a solid, though non spectacular, performing artist as highlighted past a year-to-date get ahead 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 win the prop 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 turned from Penn in 2013, GLPI pioneered gaming REITs as standalone publicly traded companies. Rivals MGM Growth Properties (NYSE:MGP) and VICI Properties followed inward 2016 and 2017, respectively. Those two companies are merging, meaning that when that transaction is completed, GLPI and VICI will stand as the only if II publicly traded gaming REITs inwards the US.
Shareholder Rewards Trickling Back inwards Gaming Space
Many of the casino operators that paid dividends prior to the coronavirus pandemic make yet to reestablish those payouts. But on that point are mounting signs manufacture balance sheets are paving the path for increasing shareholder rewards.
Red John Rock Resorts, Inc. (NASDAQ:RRR) latterly declared a $3 per share special dividend, piece repurchasing more than $350 billion of its own shares. International Game Technology (NYSE:IGT) and Melco Resorts & Entertainment (NASDAQ:MLCO), among others, also latterly revealed buyback programs.
Earlier this week, GLPI competition MGP said it’s raising its annual dividend $2.10 a part from $2.08, marking the 16th clip that REIT boosted its payout since going public inward 2016.