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Gaming and Leisure Qualities Announces Exclusive Dividend

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Posted on: December 17, 2021, 04:09h. 

Very last up to date on: December 17, 2021, 04:22h.

Gaming and Leisure Houses (NASDAQ:GLPI) stated now it’s having to pay a unique dividend to investors — the most up-to-date indicator shareholder benefits are returning in the gaming industry.

GLPI dividend
The M Vacation resort in Henderson, Nevada. Operator Gaming and Leisure Houses introduced a distinctive dividend nowadays. (Graphic: Gaming and Leisure Qualities)

The gaming serious estate expenditure rely on (REIT) claimed soon after the close of US markets now it is offering a specific payout of 24 cents a share on January 7, 2022 to shareholders of document on December 27, 2021.

When the Business intends to fork out regular quarterly hard cash dividends, all subsequent dividends, which includes common quarterly dividends and distinctive earnings and earnings dividends, will be reviewed and declared by the Board of Administrators at its discretion,” in accordance to a assertion issued by the Pennsylvania-based mostly REIT.

Unique dividends are just one-off payments to investors. In the case of GLPI, the aforementioned distribution is in addition to its current quarterly payout of 67 cents a share. As of the close of markets today, shares of GLPI generate 5.81 %, or a lot more than 400 foundation points in excessive of the Dow Jones U.S. True Estate Capped Index.

GLPI Regular 2021

This 12 months, GLPI is a stable, though not amazing, performer as highlighted by a calendar year-to-day obtain of 8.8 %.

GLPI owns the house property of 48 gaming venues across 16 states. Penn Nationwide Gaming (NASDAQ:PENN) is the landlord’s most significant tenant, but it’s expanding its customer base. Before this month, the REIT explained it’s shelling out $1.81 billion to receive the home assets of Live! On line casino & Hotel Maryland, Live! On line casino & Lodge Philadelphia, and Dwell! On line casino Pittsburgh from the Cordish Providers.

Other GLPI tenants consist of Bally’s (NYSE:BALY), Boyd Gaming (NYSE:BYD) and Caesars Enjoyment.

Spun off from Penn in 2013, GLPI pioneered gaming REITs as standalone publicly traded companies. Rivals MGM Progress Homes (NYSE:MGP) and VICI Properties followed in 2016 and 2017, respectively. People two providers are merging, this means that when that transaction is completed, GLPI and VICI will stand as the only two publicly traded gaming REITs in the US.

Shareholder Benefits Trickling Back again in Gaming Space

Several of the casino operators that compensated dividends prior to the coronavirus pandemic have nonetheless to restore these payouts. But there are mounting symptoms sector equilibrium sheets are paving the way for raising shareholder benefits.

Crimson Rock Resorts, Inc. (NASDAQ:RRR) not long ago declared a $3 per share exclusive dividend, when repurchasing a lot more than $350 million of its personal shares. Global Match Technological innovation (NYSE:IGT) and Melco Resorts & Entertainment (NASDAQ:MLCO), between other people, also a short while ago exposed buyback applications.

Previously this week, GLPI rival MGP stated it’s elevating its yearly dividend $2.10 a share from $2.08, marking the 16th time that REIT boosted its payout considering that heading general public in 2016.