NewLake Capital Partners Declares Fourth Quarter 2021 Common Stock Dividend

Rhea-AI Summary

NewLake Capital Partners (NLCP) announced a fourth quarter 2021 cash dividend of $0.31 per share, marking a 29% increase from the previous quarter's annualized dividend of $0.96. The annualized dividend now totals $1.24 per share. This dividend will be payable on January 14, 2022, to shareholders who are on record as of December 31, 2021. NewLake focuses on providing real estate capital to state-licensed cannabis operators, owning a portfolio of 27 cultivation facilities and dispensaries.

Positive

• Fourth quarter dividend increased by 29% to $0.31 per share.
• Annualized dividend reaches $1.24 per share.
• Stable business model with a portfolio of 27 cannabis facilities.

Negative

• None.

NEW CANAAN, Conn., Dec. 16, 2021 (GLOBE NEWSWIRE) -- NewLake Capital Partners, Inc. (OTCQX: NLCP) (“The Company” or “NewLake”), a leading provider of real estate capital to state-licensed cannabis operators, today announced that its board of directors has declared a fourth quarter 2021 cash dividend of $0.31 per share of common stock.

The dividend is equivalent to an annualized dividend of $1.24 per common share, and is an approximate 29% increase over third quarter annualized dividend of $0.96 per common share. The dividends are payable on January 14, 2022 to stockholders of record at the close of business on December 31, 2021.

About NewLake Capital Partners, Inc.
NewLake Capital Partners, Inc. is an internally-managed real estate investment trust that provides real estate capital to state-licensed cannabis operators through sale-leaseback transactions and third-party purchases and funding for build-to-suit projects. NewLake owns a portfolio of 27 cultivation facilities and dispensaries utilized in the cannabis industry that are leased to single tenants on a triple-net basis.

Forward-Looking Statements
This press release contains “forward-looking statements.” Forward-looking statements can be identified by words like “may,” “will,” “likely,” “should,” “expect,” “anticipate,” “future,” “plan,” “believe,” “intend,” “goal,” “project,” “continue” and similar expressions. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs and expectations. Forward-looking statements, including statements regarding the timing of settlement and the use of proceeds of the initial public offering, are based on the Company’s current expectations and assumptions regarding capital market conditions, the Company’s business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, changes in the condition of the U.S. economy and, in particular, the U.S. real estate market.

Investor Contact:
Valter Pinto, Managing Director
KCSA Strategic Communications
Valter@KCSA.com
PH: (212) 896-1254

Media Contact:
McKenna Miller
KCSA Strategic Communications
MMiller@kcsa.com
PH: (212) 896-1254

FAQ

What is the dividend amount declared by NLCP?

NewLake Capital Partners declared a dividend of $0.31 per share.

When will the dividend be paid to stockholders of NLCP?

The dividend will be paid on January 14, 2022.

What is the annualized dividend for NLCP?

The annualized dividend for NewLake Capital Partners is $1.24 per share.

When is the record date for NLCP dividends?

The record date for the dividend is December 31, 2021.