Gaming and Leisure Properties, Inc. Announces Shareholder Election Results for Fourth Quarter Dividend
Gaming and Leisure Properties, Inc. (“GLPI” or the “Company”)
(NASDAQ: GLPI) announced today the results of shareholder elections
relating to its quarterly dividend declared by its Board of
Directors on November 5, 2020. The dividend of $0.60 per share of
the Company’s common stock, par value $0.01 per share, consists of
a combination of cash and shares and will be paid on December 24,
2020 to shareholders of record on November 16, 2020.
Based on shareholder elections, the dividend
will be paid in the form of approximately $27.6 million in cash and
approximately 2.5 million shares of the Company’s common stock. The
number of shares included for the common stock dividend election
was calculated based on the volume weighted average of the trading
prices of the Company's common stock on the Nasdaq Stock Market for
the three-day period of December 15, December 16 and December 17,
2020, or $43.3758 per share. Summarized results of the dividend
elections are as follows:
- To shareholders electing to receive the dividend in all stock,
the Company will pay the dividend in shares of common stock.
- To shareholders electing to receive
the dividend in all cash, the Company will pay the dividend in the
form of approximately $0.14 per share in cash and $0.46 per share
in common stock.
- To shareholders not making an election, the Company will pay
the dividend in the form of $0.12 per share in cash and $0.48 per
share in common stock.
- The Company will pay fractional shares of the common stock
dividend in cash.
If your shares are held through a bank, broker
or nominee, and you have questions regarding the dividend, please
contact such bank, broker or nominee. If you are a registered
shareholder and you have questions regarding the dividend, you may
call the election agent for the dividend, Broadridge Corporate
Issuer Solutions, Inc., at (888) 789-8409.
About Gaming and Leisure
GLPI is engaged in the business of acquiring,
financing, and owning real estate property to be leased to gaming
operators in triple-net lease arrangements, pursuant to which the
tenant is responsible for all facility maintenance, insurance
required in connection with the leased properties and the business
conducted on the leased properties, taxes levied on or with respect
to the leased properties and all utilities and other services
necessary or appropriate for the leased properties and the business
conducted on the leased properties. GLPI elected to be taxed as a
real estate investment trust (“REIT”) for U.S. federal income tax
purposes commencing with the 2014 taxable year and was the first
gaming-focused REIT in North America.
Gaming and Leisure Properties, Inc.
Matthew Demchyk, SVP Investments
Joseph Jaffoni, Richard Land, James Leahy at JCIR