Gaming and Leisure Properties, Inc. Declares Second Quarter 2024 Cash Dividend of $0.76 Per Share
Gaming and Leisure Properties (NASDAQ: GLPI) has announced a second quarter 2024 cash dividend of $0.76 per share, an increase from the $0.72 per share paid in the second quarter of 2023.
The dividend is payable on June 21, 2024, to shareholders of record on June 7, 2024. While the company plans to continue regular quarterly dividends, each is subject to quarterly review and Board approval.
- Dividend increase from $0.72 to $0.76 per share.
- Commitment to regular quarterly cash dividends.
- Payment date set for June 21, 2024.
- Future dividends are subject to Board's discretion and quarterly review.
Insights
Gaming and Leisure Properties, Inc. (GLPI) has announced a cash dividend of $0.76 per share for the second quarter of 2024, marking a
Dividends are a way for companies to distribute a portion of their earnings to shareholders. The increased dividend suggests GLPI's strong cash flow and profitability, possibly reflecting a robust underlying business. However, investors should note that while the company plans to continue paying regular dividends, these are not guaranteed and can be adjusted based on the company's performance and decisions by the Board of Directors.
From a financial perspective, such an increase in dividends can attract income-focused investors, potentially boosting demand for the stock in the short term. However, investors should also consider other financial metrics like earnings per share (EPS), payout ratio and cash reserves to assess the company's ability to sustain dividend payments over the long term.
In conclusion, this announcement is moderately positive. It suggests confidence in the company's future performance but investors should remain vigilant about the overall financial health of the company.
WYOMISSING, Pa., May 20, 2024 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) (the “Company”) announced today that the Company’s Board of Directors has declared the second quarter 2024 cash dividend of
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 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; the potential negative impact of ongoing high levels of inflation (which have been exacerbated by the armed conflict between Russia and Ukraine and may be further impacted by recent events in the Middle East) 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; 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. | Investor Relations | |
| Matthew Demchyk, Chief Investment Officer | Joseph Jaffoni, Richard Land, James Leahy at JCIR | |
| 610/401-2900 | 212/835-8500 | |
| investorinquiries@glpropinc.com | glpi@jcir.com |
FAQ
What is the dividend amount declared by Gaming and Leisure Properties for Q2 2024?
When will Gaming and Leisure Properties pay the Q2 2024 dividend?
What was the previous dividend amount for Gaming and Leisure Properties?
What is the record date for Gaming and Leisure Properties' Q2 2024 dividend?
Is Gaming and Leisure Properties committed to regular quarterly dividends?
