STORE Capital Declares Third Quarter 2022 Dividend

Rhea-AI Summary

STORE Capital Corporation declared a quarterly cash dividend of $0.41 per share for Q3 2022, marking a 6.5% increase from the previous dividend. This dividend will be paid on October 17, 2022 to stockholders on record as of September 30, 2022. The declaration aligns with the Merger Agreement involving STORE and parent company affiliates, limiting future dividends except as necessary to maintain REIT tax status. STORE is recognized as a leading net-lease REIT, managing a diverse portfolio of over 3,000 properties across the U.S.

Positive

• Declared a dividend of $0.41 per share, a 6.5% increase, which indicates financial growth and shareholder value.
• Maintains a well-diversified portfolio with over 3,000 properties, enhancing income stability.

Negative

• Future dividend payments may be restricted due to the merger terms, potentially affecting shareholder returns.

Increases Quarterly Dividend 6.5%

SCOTTSDALE, Ariz.--(BUSINESS WIRE)-- STORE Capital Corporation (NYSE: STOR, “STORE Capital,” “STORE” or the “Company”), an internally managed net-lease real estate investment trust (“REIT”) that invests in Single Tenant Operational Real Estate, today announced that it has declared a regular quarterly cash dividend on its common stock of $0.41 per share for the third quarter ending September 30, 2022, which represents an increase of 6.5% over the previous quarterly dividend. The dividend will be paid on October 17, 2022 to STORE Capital stockholders of record as of the close of business on September 30, 2022.

The quarterly dividend was declared in accordance with the Agreement and Plan of Merger, dated as of September 15, 2022 (the "Merger Agreement"), by and among STORE, Ivory Parent, LLC, a Delaware limited liability company (“Parent”) and Ivory REIT, LLC, a Delaware limited liability company and a wholly-owned subsidiary of Parent (“Merger Sub” and, together with Parent, the “Parent Parties”) relating to the previously announced merger of STORE and Merger Sub. The Parent Parties are affiliates of GIC, a global institutional investor, and Oak Street Real Estate Capital, a division of Blue Owl, Inc.

Under the terms of the Merger Agreement, following the payment of the foregoing dividend, the Company may not pay further dividends, except as necessary to preserve its tax status as a REIT.

About STORE Capital

STORE Capital Corporation is an internally managed net-lease REIT that is a leader in the acquisition, investment and management of Single Tenant Operational Real Estate, which is its target market and the inspiration for its name. STORE is one of the largest and fastest growing net-lease REITs and owns a large, well-diversified portfolio that consists of investments in more than 3,000 property locations across the United States, substantially all of which are profit centers. Additional information about STORE can be found on its website at www.storecapital.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220919005237/en/

Financial Profiles, Inc.

STORECapital@finprofiles.com

Investors or Media:

Moira Conlon, 310-622-8220

Megan McGrath, 310-622-8248

Source: STORE Capital Corporation

FAQ

What is the dividend amount declared by STORE Capital for Q3 2022?

STORE Capital declared a quarterly cash dividend of $0.41 per share for Q3 2022.

When will STORE Capital's Q3 2022 dividend be paid?

The dividend will be paid on October 17, 2022.

What was the percentage increase in STORE Capital's dividend?

The dividend increased by 6.5% compared to the previous quarter.

What are the terms regarding future dividends for STORE Capital following the merger?

Following the merger, STORE Capital may not pay further dividends, except as necessary to maintain REIT tax status.

How many properties does STORE Capital manage?

STORE Capital manages a portfolio of over 3,000 properties across the United States.