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

Rhea-AI Summary

Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) has announced its third quarter 2024 cash dividend of $0.76 per share of common stock. This represents a 4.1% increase from the third quarter 2023 dividend of $0.73 per share. The dividend will be payable on September 27, 2024, to shareholders of record on September 13, 2024. The company's Board of Directors has declared this dividend, demonstrating GLPI's commitment to returning value to shareholders. While GLPI intends to continue paying regular quarterly cash dividends, future dividends will be subject to quarterly review and declaration by the Board of Directors.

Positive

• Increased dividend payout from $0.73 to $0.76 per share, representing a 4.1% year-over-year growth
• Commitment to regular quarterly cash dividends for the foreseeable future

Negative

• None.

Insights

Financial Analyst

The 4.1% year-over-year increase in GLPI's quarterly dividend signals confidence in the company's financial health and commitment to shareholder returns. This $0.76 per share payout, up from $0.73 last year, is a positive indicator for income-focused investors. However, it's important to note that the dividend growth rate has slowed compared to previous years, which could suggest a more cautious approach to capital allocation.

The company's consistent dividend payments, coupled with the Board's quarterly review policy, demonstrate a balance between rewarding shareholders and maintaining financial flexibility. For investors, this translates to a reliable income stream with potential for modest growth, aligning with GLPI's position as a Real Estate Investment Trust (REIT) in the gaming sector.

WYOMISSING, Pa., Aug. 28, 2024 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) (the “Company”), announced today that the Company’s Board of Directors has declared the third quarter 2024 cash dividend of $0.76 per share of its common stock. The dividend is payable on September 27, 2024 to shareholders of record on September 13, 2024. The third 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 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 Gaming and Leisure Properties' (GLPI) dividend for Q3 2024?

Gaming and Leisure Properties (GLPI) has declared a cash dividend of $0.76 per share for the third quarter of 2024.

When will GLPI pay its Q3 2024 dividend?

GLPI will pay its Q3 2024 dividend on September 27, 2024, to shareholders of record on September 13, 2024.

How much has GLPI's dividend increased compared to Q3 2023?

GLPI's Q3 2024 dividend of $0.76 per share represents a 4.1% increase from the Q3 2023 dividend of $0.73 per share.

Will GLPI continue to pay quarterly dividends in the future?

GLPI intends to pay regular quarterly cash dividends for the foreseeable future, subject to quarterly review and declaration by the Board of Directors.