Gaming and Leisure Homes Announces Unique Dividend

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Posted on: December 17, 2021, 04:09h. 

Very last current on: December 17, 2021, 04:22h.

Gaming and Leisure Qualities (NASDAQ:GLPI) claimed right now it’s paying a unique dividend to investors — the newest indicator shareholder rewards are returning in the gaming sector.

GLPI dividend
The M Vacation resort in Henderson, Nevada. Operator Gaming and Leisure Properties declared a exclusive dividend today. (Image: Gaming and Leisure Qualities)

The gaming actual estate financial commitment believe in (REIT) claimed right after the near of US marketplaces right now it is offering a particular payout of 24 cents a share on January 7, 2022 to shareholders of record on December 27, 2021.

Whilst the Firm intends to pay typical quarterly hard cash dividends, all subsequent dividends, which include normal quarterly dividends and particular earnings and earnings dividends, will be reviewed and declared by the Board of Administrators at its discretion,” in accordance to a statement issued by the Pennsylvania-centered REIT.

Distinctive dividends are a single-off payments to investors. In the case of GLPI, the aforementioned distribution is in addition to its current quarterly payout of 67 cents a share. As of the close of marketplaces right now, shares of GLPI generate 5.81 p.c, or extra than 400 foundation factors in surplus of the Dow Jones U.S. Serious Estate Capped Index.

GLPI Continuous 2021

This year, GLPI is a stable, while not amazing, performer as highlighted by a 12 months-to-day acquire of 8.8 p.c.

GLPI owns the house property of 48 gaming venues throughout 16 states. Penn Countrywide Gaming (NASDAQ:PENN) is the landlord’s greatest tenant, but it’s rising its consumer foundation. Before this thirty day period, the REIT said it is spending $1.81 billion to get the house belongings of Are living! On line casino & Hotel Maryland, Are living! On line casino & Hotel Philadelphia, and Live! On line casino Pittsburgh from the Cordish Businesses.

Other GLPI tenants include Bally’s (NYSE:BALY), Boyd Gaming (NYSE:BYD) and Caesars Entertainment.

Spun off from Penn in 2013, GLPI pioneered gaming REITs as standalone publicly traded firms. Rivals MGM Growth Qualities (NYSE:MGP) and VICI Homes followed in 2016 and 2017, respectively. Those two businesses are merging, which means that when that transaction is done, GLPI and VICI will stand as the only two publicly traded gaming REITs in the US.

Shareholder Rewards Trickling Again in Gaming Room

Quite a few of the casino operators that compensated dividends prior to the coronavirus pandemic have yet to restore these payouts. But there are mounting signs marketplace balance sheets are paving the way for escalating shareholder benefits.

Purple Rock Resorts, Inc. (NASDAQ:RRR) just lately declared a $3 for every share specific dividend, though repurchasing far more than $350 million of its individual shares. International Activity Know-how (NYSE:IGT) and Melco Resorts & Leisure (NASDAQ:MLCO), among the other people, also not long ago discovered buyback systems.

Before this 7 days, GLPI rival MGP reported it’s elevating its once-a-year dividend $2.10 a share from $2.08, marking the 16th time that REIT boosted its payout considering the fact that likely public in 2016.