Gaming and Leisure Properties Inc. Announces 2024 Distribution Tax Treatment

Rhea-AI Summary

Gaming and Leisure Properties (NASDAQ: GLPI) has disclosed its 2024 distribution tax treatment for federal income tax purposes. The company distributed an aggregate of $3.04 per share of common stock throughout 2024, paid in four equal quarterly installments of $0.76 per share.

The distributions were categorized as follows: $2.958412 per share as ordinary dividends (97.3%), $0.017808 per share as capital gain distribution (0.6%), and $0.063780 per share as nondividend distributions/return of capital (2.1%). All quarterly payments maintained consistent tax treatment throughout the year.

Positive

• Consistent quarterly dividend payments of $0.76 per share throughout 2024
• Total annual distribution of $3.04 per share to shareholders
• 97.3% of distributions qualified as Section 199A dividends

Negative

• None.

Insights

Tax and REIT Expert

The detailed tax treatment of GLPI's 2024 distributions offers significant insights for investors. The $3.04 annual distribution maintains a highly tax-efficient structure, with 97.3% classified as ordinary dividends qualifying for the advantageous Section 199A deduction. This allows individual taxpayers to potentially deduct up to 20% of these qualified REIT dividends, enhancing after-tax returns.

The minimal capital gains component (0.6%) and modest return of capital (2.1%) reflect efficient property management and stable asset appreciation. The return of capital portion reduces shareholders' cost basis rather than being immediately taxable, offering a tax-deferral advantage that's particularly appealing in taxable accounts.

Notable is the consistency across quarterly distributions, each at $0.76 with identical tax treatment ratios, indicating strong operational stability and predictable income generation from GLPI's gaming property portfolio. For tax-advantaged accounts like IRAs, the high ordinary dividend component simplifies tax planning, while taxable investors benefit from the Section 199A qualification and return of capital elements.

WYOMISSING, Pa., Jan. 24, 2025 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) (the “Company”) announced the income tax allocation for federal income tax purposes of its aggregate distributions in 2024 of $3.04 per share of common stock (CUSIP: 36467J108).

Gaming and Leisure Properties’ tax return for the year ended December 31, 2024, has not yet been filed.  As a result, the income tax allocation for the distributions noted below have been calculated using the best available information as of the date of this press release.

					Box 1a		Box 1b		Box 2a		Box 2b		Box 2f		Box 3		Box 5
Record Date	Payable Date		Total Distribution Per Share		Total Ordinary Dividends		Qualified Dividends (1)		Total Capital Gain Distribution		Unrecaptured 1250 Gain (2)		Section 897 Capital Gain		Nondividend Distributions (3)		Section 199A Dividends (4)
03/15/2024	03/29/2024		$0.760000		$0.739603		$0.000000		$0.004452		$0.000000		$0.000000		$0.015945		$0.739603
06/07/2024	06/21/2024		$0.760000		$0.739603		$0.000000		$0.004452		$0.000000		$0.000000		$0.015945		$0.739603
09/13/2024	09/27/2024		$0.760000		$0.739603		$0.000000		$0.004452		$0.000000		$0.000000		$0.015945		$0.739603
12/06/2024	12/20/2024		$0.760000		$0.739603		$0.000000		$0.004452		$0.000000		$0.000000		$0.015945		$0.739603
	Totals		$3.040000		$2.958412		$0.000000		$0.017808		$0.000000		$0.000000		$0.063780		$2.958412
	(1	)	Amounts in Box 1b are included in Box 1a
	(2	)	Amounts in Box 2b are included in Box 2a
	(3	)	Amounts in Box 3 are also known as Return of Capital
	(4	)	Amounts in Box 5 are included in Box 1a

Please note that federal tax laws affect taxpayers differently, and the information in this release is not intended as advice to shareholders on how distributions should be reported on their tax returns.  Also, note that state and local taxation of real estate investment trust distributions varies and may not be the same as the taxation under the federal rules.  Shareholders are encouraged to consult with their own tax advisors as to their specific federal, state, and local income tax treatment of the Company’s distributions.

About Gaming and Leisure Properties
GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.

Contact:
Gaming and Leisure Properties, Inc.                
Matthew Demchyk, Chief Investment Officer
610/401-2900
investorinquiries@glpropinc.com

Investor Relations
Joseph Jaffoni, Richard Land, James Leahy at JCIR
212/835-8500
glpi@jcir.com

FAQ

What was GLPI's total dividend distribution per share in 2024?

GLPI's total dividend distribution was $3.04 per share in 2024, paid in four quarterly installments of $0.76 per share.

How much of GLPI's 2024 distributions were classified as ordinary dividends?

Of the total distributions, $2.958412 per share was classified as ordinary dividends, representing 97.3% of the total distribution.

What percentage of GLPI's 2024 distributions was return of capital?

Return of capital (nondividend distributions) accounted for $0.063780 per share, or approximately 2.1% of the total distributions.

When were GLPI's quarterly dividends paid in 2024?

GLPI paid quarterly dividends on March 29, June 21, September 27, and December 20, 2024.

What was the capital gain distribution component of GLPI's 2024 dividends?

The capital gain distribution was $0.017808 per share, representing approximately 0.6% of the total distribution.