Gaming and Leisure Properties, Inc. Declares Fourth Quarter 2024 Cash Dividend of $0.76 per Share

Rhea-AI Summary

Gaming and Leisure Properties (NASDAQ: GLPI) has announced a quarterly cash dividend of $0.76 per share for the fourth quarter of 2024, representing an increase from the $0.73 per share paid in Q4 2023. The dividend will be paid on December 20, 2024, to shareholders of record as of December 6, 2024. The company has expressed its intention to continue paying regular quarterly dividends, subject to quarterly review and Board approval.

Positive

• Dividend increased by 4.1% year-over-year from $0.73 to $0.76 per share
• Commitment to maintaining regular quarterly dividend payments

Negative

• None.

Insights

Financial Analyst

The 4.1% year-over-year dividend increase from $0.73 to $0.76 per share demonstrates GLPI's commitment to shareholder returns and reflects the stability of their gaming real estate portfolio. As a REIT, GLPI must distribute at least 90% of taxable income to shareholders, making dividend reliability crucial. The company's triple-net lease structure provides predictable cash flows, supporting consistent dividend growth. With a current dividend yield around 6.2%, GLPI offers an attractive income opportunity compared to the broader market, though investors should monitor gaming industry health and interest rate impacts on REITs.

WYOMISSING, Pa., Nov. 25, 2024 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) (the “Company”), announced today that the Company’s Board of Directors has declared the fourth quarter 2024 cash dividend of $0.76 per share of its common stock. The dividend is payable on December 20, 2024 to shareholders of record on December 6, 2024. The fourth quarter 2023 cash dividend was $0.73 per share of the Company’s common stock.

While the Company intends to pay regular quarterly cash dividends for the foreseeable future, all subsequent dividends will be reviewed quarterly and declared by the Board of Directors at its discretion.

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.

Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including our expectations regarding the payment of future cash dividends. Forward-looking statements can be identified by the use of forward-looking terminology such as “expects,” “believes,” “estimates,” “intends,” “may,” “will,” “should” or “anticipates” or the negative or other variation of these or similar words, or by discussions of future events, strategies or risks and uncertainties. Such forward-looking statements are inherently subject to risks, uncertainties and assumptions about GLPI and its subsidiaries, including risks related to the following: the potential negative impact of inflation on our tenants' operations; the availability of and the ability to identify suitable and attractive acquisition and development opportunities and the ability to acquire and lease those properties on favorable terms; the ability to receive, or delays in obtaining, the regulatory approvals required to own and/or operate its properties, or other delays or impediments to completing acquisitions or projects; the effect of pandemics, such as COVID-19, on GLPI as a result of the impact such pandemics may have on the business operations of GLPI’s tenants and their continued ability to pay rent in a timely manner or at all; GLPI's ability to maintain its status as a REIT; our ability to access capital through debt and equity markets in amounts and at rates and costs acceptable to GLPI; the impact of our substantial indebtedness on our future operations; changes in the U.S. tax law and other state, federal or local laws, whether or not specific to REITs or to the gaming or lodging industries; and other factors described in GLPI’s Annual Report on Form 10-K for the year ended December 31, 2023, Quarterly Reports on Form 10-Q and current Reports on Form 8-K, each as filed with the Securities and Exchange Commission. All subsequent written and oral forward-looking statements attributable to GLPI or persons acting on GLPI’s behalf are expressly qualified in their entirety by the cautionary statements included in this press release. GLPI undertakes no obligation to publicly update or revise any forward-looking statements contained or incorporated by reference herein, whether as a result of new information, future events or otherwise, except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release may not occur as presented or at all.

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 is GLPI's Q4 2024 dividend amount?

Gaming and Leisure Properties (GLPI) declared a Q4 2024 dividend of $0.76 per share.

When is GLPI's Q4 2024 dividend payable?

The Q4 2024 dividend is payable on December 20, 2024, to shareholders of record as of December 6, 2024.

How much did GLPI increase its dividend compared to Q4 2023?

GLPI increased its dividend by $0.03 per share, from $0.73 in Q4 2023 to $0.76 in Q4 2024.