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

Rhea-AI Summary

Gaming and Leisure Properties (GLPI) announced a dividend of $0.60 per share for Q3 2020, comprising cash and stock, to be paid on September 25, 2020. Shareholders of record as of August 17, 2020 can choose to receive their dividend in cash, stock, or a combination. The total payout will be approximately $26 million in cash and 2.8 million shares. Shareholders electing all cash will receive around $0.13 in cash and $0.47 in stock per share, while those not making an election will get $0.12 cash and $0.48 stock.

Positive

• Quarterly dividend of $0.60 per share improves shareholder returns.
• Shareholder elections provide flexibility in receiving dividends (cash or stock).
• Total dividend payout of approximately $26 million enhances liquidity.
• Continued dividend payments indicate confidence in financial stability.

Negative

• None.

WYOMISSING, Pa., Sept. 23, 2020 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (“GLPI” or the “Company”) (NASDAQ: GLPI) announced today the results of shareholder elections relating to the quarterly dividend declared by its Board of Directors on August 6, 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 September 25, 2020 to shareholders of record on August 17, 2020.

Based on shareholder elections, the dividend will be paid in the form of approximately $26 million in cash and approximately 2.8 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 closing prices of the Company's common stock on the Nasdaq Stock Market for September 16, September 17 and September 18, 2020, or $37.7635 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 $0.13 per share in cash and $0.47 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
Investor Relations – Gaming and Leisure Properties, Inc.
Joseph Jaffoni, Richard Land, James Leahy
212/835-8500
glpi@jcir.com

FAQ

What is the dividend amount for GLPI in Q3 2020?

The dividend amount for GLPI in Q3 2020 is $0.60 per share.

When will the GLPI dividend be paid?

The GLPI dividend will be paid on September 25, 2020.

What are the options for receiving the GLPI dividend?

Shareholders can receive the GLPI dividend in cash, stock, or a combination of both.

What is the record date for GLPI's Q3 2020 dividend?

The record date for GLPI's Q3 2020 dividend is August 17, 2020.

How much cash will GLPI pay to shareholders opting for cash dividends?

Shareholders opting for cash dividends will receive approximately $0.13 in cash per share.