Gaming and Leisure Properties, Inc. Declares an Increased Third Quarter 2023 Cash Dividend of $0.73 Per Share
August 31 2023 - 8:00AM
Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) (the “Company”),
announced today that, at its meeting yesterday, the Company’s Board
of Directors has declared the third quarter 2023 cash dividend of
$0.73 per share of its common stock, an increase from the second
quarter of $.01 per share per quarter. The dividend is payable on
September 29, 2023 to shareholders of record on September 15, 2023.
The third quarter 2022 cash dividend was $0.705 per share of the
Company’s common stock.
While the Company intends to pay regular
quarterly cash dividends for the foreseeable future, all subsequent
dividends will be reviewed quarterly and declared by the Board of
Directors at its discretion.
About Gaming
and Leisure
Properties
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.
Forward-Looking Statements
This press release includes “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, including our expectations regarding the
payment of future cash dividends. Forward-looking statements can be
identified by the use of forward-looking terminology such as
“expects,” “believes,” “estimates,” “intends,” “may,” “will,”
“should” or “anticipates” or the negative or other variation of
these or similar words, or by discussions of future events,
strategies or risks and uncertainties. Such forward-looking
statements are inherently subject to risks, uncertainties and
assumptions about GLPI and its subsidiaries, including risks
related to the following: the effect of pandemics, such as
COVID-19, on GLPI as a result of the impact such pandemics may have
on the business operations of GLPI’s tenants and their continued
ability to pay rent in a timely manner or at all; the potential
negative impact of .ongoing high levels of inflation (which have
been exacerbated by the armed conflict between Russia and Ukraine)
on our tenants' operations; the availability of and the ability to
identify suitable and attractive acquisition and development
opportunities and the ability to acquire and lease those properties
on favorable terms; the ability to receive, or delays in obtaining,
the regulatory approvals required to own and/or operate its
properties, or other delays or impediments to completing
acquisitions or projects; GLPI's ability to maintain its status as
a REIT; our ability to access capital through debt and equity
markets in amounts and at rates and costs acceptable to GLPI; the
impact of our substantial indebtedness on our future operations;
changes in the U.S. tax law and other state, federal or local laws,
whether or not specific to REITs or to the gaming or lodging
industries; and other factors described in GLPI’s Annual Report on
Form 10-K for the year ended December 31, 2022, Quarterly Reports
on Form 10-Q and Current Reports on Form 8-K, each as filed with
the Securities and Exchange Commission. All subsequent written and
oral forward-looking statements attributable to GLPI or persons
acting on GLPI’s behalf are expressly qualified in their entirety
by the cautionary statements included in this press release. GLPI
undertakes no obligation to publicly update or revise any
forward-looking statements contained or incorporated by reference
herein, whether as a result of new information, future events or
otherwise, except as required by law. In light of these risks,
uncertainties and assumptions, the forward-looking events discussed
in this press release may not occur as presented or at all.
Contact |
|
Gaming and
Leisure Properties,
Inc. |
Investor Relations |
Matthew Demchyk, Chief Investment Officer |
Joseph Jaffoni, Richard Land, James Leahy at JCIR |
610/401-2900 |
212/835-8500 |
investorinquiries@glpropinc.com |
glpi@jcir.com |
|
|
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