NewLake Capital Partners Declares Third Quarter 2022 Common Stock Dividend

Rhea-AI Summary

NewLake Capital Partners (OTCQX: NLCP) has declared a third-quarter 2022 cash dividend of $0.37 per share, translating to an annualized rate of $1.48. This marks the company's sixth consecutive quarterly dividend hike, reflecting a 5.7% increase from the previous quarter. The dividend will be payable on October 14, 2022, to stockholders on record as of September 30, 2022. NewLake specializes in providing real estate capital to state-licensed cannabis operators, owning 31 cultivation and dispensary facilities under triple-net lease agreements.

Positive

• Declared a third-quarter cash dividend of $0.37 per share.
• Annualized dividend increases to $1.48, a 5.7% increase quarter-over-quarter.
• This is the sixth consecutive quarterly dividend increase.

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• None.

NEW CANAAN, Conn., Sept. 16, 2022 (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 third quarter 2022 cash dividend of $0.37 per share of common stock.

The dividend is equivalent to an annualized dividend of $1.48 per common share. This is the Company’s sixth consecutive quarterly dividend increase, and represents a 5.7% quarter-over-quarter increase. The dividend is payable on October 14, 2022 to common stockholders of record at the close of business on September 30, 2022.

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 31 cultivation facilities and dispensaries that are leased to single tenants on a triple-net basis. For more information, please visit www.newlake.com.

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 NewLake Capital Partners?

NewLake Capital Partners declared a cash dividend of $0.37 per share for the third quarter of 2022.

When is the dividend payable for NLCP?

The dividend is payable on October 14, 2022, to shareholders of record as of September 30, 2022.

How much has the dividend increased for NewLake Capital Partners?

The dividend represents a 5.7% increase from the previous quarter.

How many facilities does NewLake Capital Partners own?

NewLake Capital Partners owns 31 cultivation and dispensary facilities that are leased to single tenants.

What does NewLake Capital Partners specialize in?

NewLake specializes in providing real estate capital to state-licensed cannabis operators through sale-leaseback transactions.