Gaming and Leisure Properties, Inc. Announces Shareholder Election Results for Fourth Quarter Dividend

Rhea-AI Summary

Gaming and Leisure Properties (GLPI) announced a quarterly dividend of $0.60 per share, approved on November 5, 2020. Shareholders can choose between cash or stock for their dividends. The payout, totaling approximately $27.6 million in cash and 2.5 million shares, will be distributed on December 24, 2020. The dividend breakdown includes $0.14 per share in cash for those choosing full cash, while those opting for stock will receive shares valued at $43.3758 each. Shareholders not making an election will receive $0.12 in cash and $0.48 in stock.

Positive

• Dividend amount of $0.60 per share reflects company confidence.
• Shareholders have options between cash and stock for dividend payouts.

Negative

• None.

WYOMISSING, Pa., Dec. 23, 2020 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (“GLPI” or the “Company”) (NASDAQ: GLPI) announced today the results of shareholder elections relating to its quarterly dividend declared by its Board of Directors on November 5, 2020. The dividend of $0.60 per share of the Company’s common stock, par value $0.01 per share, consists of a combination of cash and shares and will be paid on December 24, 2020 to shareholders of record on November 16, 2020.

Based on shareholder elections, the dividend will be paid in the form of approximately $27.6 million in cash and approximately 2.5 million shares of the Company’s common stock. The number of shares included for the common stock dividend election was calculated based on the volume weighted average of the trading prices of the Company's common stock on the Nasdaq Stock Market for the three-day period of December 15, December 16 and December 17, 2020, or $43.3758 per share. Summarized results of the dividend elections are as follows:

• To shareholders electing to receive the dividend in all stock, the Company will pay the dividend in shares of common stock.
• To shareholders electing to receive the dividend in all cash, the Company will pay the dividend in the form of approximately $0.14 per share in cash and $0.46 per share in common stock.
• To shareholders not making an election, the Company will pay the dividend in the form of $0.12 per share in cash and $0.48 per share in common stock.
• The Company will pay fractional shares of the common stock dividend in cash.

If your shares are held through a bank, broker or nominee, and you have questions regarding the dividend, please contact such bank, broker or nominee. If you are a registered shareholder and you have questions regarding the dividend, you may call the election agent for the dividend, Broadridge Corporate Issuer Solutions, Inc., at (888) 789-8409.

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. GLPI elected to be taxed as a real estate investment trust (“REIT”) for U.S. federal income tax purposes commencing with the 2014 taxable year and was the first gaming-focused REIT in North America.

Contact
Gaming and Leisure Properties, Inc.	Investor Relations
Matthew Demchyk, SVP Investments	Joseph Jaffoni, Richard Land, James Leahy at JCIR
610/378-8232	212/835-8500
investorinquiries@glpropinc.com	glpi@jcir.com

 

FAQ

What is the dividend amount for GLPI in December 2020?

The dividend amount declared by GLPI is $0.60 per share.

When will the GLPI dividend be paid?

The GLPI dividend will be paid on December 24, 2020.

How can GLPI shareholders receive their dividend?

GLPI shareholders can receive their dividend in cash, stock, or a combination of both.

What is the record date for the GLPI dividend payment?

The record date for the GLPI dividend payment is November 16, 2020.

How much cash will GLPI pay per share for those electing cash?

GLPI will pay approximately $0.14 per share in cash for those electing to receive the dividend in all cash.