MGP - MGP STOCK NEWS

MGM Growth Properties LLC (MGP) has declared a quarterly cash dividend of $0.495 per Class A common share for Q1 2021, marking an annualized rate of $1.98. This dividend reflects an increase of $0.03 per share and is MGP's 12th dividend increase since its IPO in April 2016. The payment date is set for April 15, 2021, with shareholders of record as of March 31, 2021.

MGM Growth Properties LLC (NYSE: MGP) has priced an underwritten public offering of 19,000,000 Class A shares at $32.15 per share, aiming for proceeds of approximately $587.9 million, net of discounts. The offering includes a 30-day over-allotment option for an additional 2,850,000 shares, potentially raising total proceeds to about $676.1 million. The funds will be used to redeem 21.8 million operating partnership units as per a redemption notice from MGM Resorts International, with the rest to be covered by cash. Closing is expected on March 15, 2021.

MGM Growth Properties LLC (NYSE: MGP) announced a public offering of 19,000,000 Class A shares, with an option to purchase an additional 2,850,000 shares. The primary use of the net proceeds will be to redeem 21.8 million operating partnership units following a notice of redemption from MGM Resorts International. The remaining 15.3 million units will be redeemed using cash on hand. BofA Securities and other major banks are managing the offering.

MGM Growth Properties (MGP) reported financial results for Q4 and the full year 2020. For Q4, net income was $41.5 million ($0.31 per share) with rental revenue of $188.3 million. The full year net income reached $76.1 million ($0.59 per share) and total rental revenue of $768.4 million. MGP achieved a 100% rent collection rate and a 3.7% annual dividend increase. The company successfully redeemed 23.5 million units for $700 million and issued $750 million in senior notes, enhancing its financial position with $626.4 million in cash as of year-end.

MGM Growth Properties (NYSE: MGP) will announce its financial results for Q4 and the full year 2020 on February 16, 2021, prior to market opening. A conference call will be held at 12:30 PM Eastern Time on the same day, featuring a discussion of the results followed by a Q&A session. Supplemental slides will be available on the company's website. The call will also be accessible via the same link or by calling 1-888-317-6003 domestically. A replay will be available until February 23, 2021.

MGM Growth Properties (NYSE: MGP) announced the 2020 tax treatment for its Class A common share distributions. The total distribution per share amounted to $2.407500, with $1.920000 classified as taxable. The company provided details on distribution types and their respective amounts, including ordinary dividends and capital gain distributions. Shareholders are advised to consult tax advisors as tax treatment may vary by jurisdiction. The information released is preliminary and may be adjusted. For comprehensive tax details, refer to the IRS Form 8937 on the company's website.

MGM Growth Properties LLC (NYSE:MGP) announced a quarterly cash dividend of $0.4875 per Class A share for Q4 2020, equating to an annualized dividend of $1.95. This dividend will be payable on January 15, 2021 to shareholders recorded by the end of December 31, 2020. MGP specializes in owning and leasing large-scale entertainment and leisure properties, with a portfolio comprising 12 resorts across the U.S., including popular destinations in Las Vegas. This dividend reflects MGP's confidence in sustaining attractive returns for its shareholders.

MGM Growth Properties has successfully issued $750 million in senior notes at a 3.875% interest rate, increasing its initial offering by $250 million. This strategic move enhances the company’s balance sheet by securing long-term fixed-rate debt at the lowest coupon rate in its history. The proceeds will primarily support general corporate purposes, including potential redemption of $700 million in partnership units held by MGM Resorts. The issuance reflects strong investor confidence despite current market challenges.

MGM Growth Properties has priced $750 million in 3.875% senior notes due 2029, increasing the original offering size of $500 million by $250 million. The offering is set to close on November 19, 2020, subject to customary conditions. Net proceeds will be used for general corporate purposes, possibly including the redemption of up to $700 million in Operating Partnership units held by MGM Resorts International. The notes are offered only to qualified institutional buyers and will not be registered under the Securities Act.