FCPT Declares Fourth Quarter 2024 Dividend

Rhea-AI Summary

Four Corners Property Trust (NYSE: FCPT) has announced a quarterly cash dividend of $0.3550 per share for the fourth quarter of 2024, equivalent to $1.42 per share annually. This represents a 2.9% increase from the previous quarter. The dividend will be paid on January 15, 2025, to shareholders of record as of December 31, 2024. FCPT is a real estate investment trust focused on owning, acquiring, and leasing restaurant and retail properties.

Positive

• Dividend increased by 2.9% from previous quarter
• Quarterly dividend of $0.3550 per share ($1.42 annualized)

Negative

• None.

Insights

Financial Analyst

The 2.9% dividend increase to $0.3550 per share quarterly ($1.42 annualized) demonstrates FCPT's commitment to shareholder returns and confidence in their cash flow stability. For a net lease REIT focused on restaurant and retail properties, this modest but meaningful increase aligns with industry standards and suggests healthy underlying property performance.

With a current market cap of $2.72B, this dividend adjustment implies a forward yield of approximately 5.2%, which is competitive within the net lease REIT sector. The increase reflects management's optimistic outlook on their triple-net lease portfolio's ability to generate sustainable cash flows, even amid broader market uncertainties.

MILL VALLEY, Calif.--(BUSINESS WIRE)-- Four Corners Property Trust, Inc. (NYSE: FCPT) today announced that its Board of Directors declared a quarterly cash dividend of $0.3550 per share (equivalent to $1.42 per share per annum) for the fourth quarter of 2024. This represents a 2.9% increase from the prior quarter. The dividend is payable on January 15, 2025, to shareholders of record as of December 31, 2024.

About FCPT

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries. Additional information about FCPT can be found on the website at www.fcpt.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include all statements that are not historical statements of fact and those regarding FCPT’s intent, belief or expectations, including, but not limited to, statements regarding: operating and financial performance and expectations regarding the making of distributions and the payment of dividends. Words such as “anticipate(s),” “expect(s),” “intend(s),” “plan(s),” “believe(s),” “may,” “will,” “would,” “could,” “should,” “seek(s)” and similar expressions, or the negative of these terms, are intended to identify such forward-looking statements. Forward-looking statements speak only as of the date on which such statements are made and, except in the normal course of FCPT’s public disclosure obligations, FCPT expressly disclaims any obligation to publicly release any updates or revisions to any forward-looking statements to reflect any change in FCPT’s expectations or any change in events, conditions or circumstances on which any statement is based. Forward-looking statements are based on management’s current expectations and beliefs and FCPT can give no assurance that its expectations or the events described will occur as described. For a further discussion of these and other factors that could cause FCPT’s future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in FCPT’s most recent annual report on Form 10-K, and other risks described in documents subsequently filed by FCPT from time to time with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241111885003/en/

FCPT

Bill Lenehan, 415-965-8031

CEO

Patrick Wernig, 415-965-8038

CFO

Source: Four Corners Property Trust

FAQ

What is FCPT's Q4 2024 dividend amount?

FCPT declared a quarterly dividend of $0.3550 per share for Q4 2024, equivalent to $1.42 per share annually.

When will FCPT pay its Q4 2024 dividend?

FCPT will pay its Q4 2024 dividend on January 15, 2025, to shareholders of record as of December 31, 2024.

How much did FCPT increase its dividend in Q4 2024?

FCPT increased its quarterly dividend by 2.9% compared to the previous quarter.

What is the annual dividend rate for FCPT stock in 2024?

Based on the Q4 2024 dividend declaration, FCPT's annual dividend rate is $1.42 per share.