Gaming and Leisure Properties, Inc. Declares Special Dividend Payable on February 18, 2014
January 03, 2014 at 05:42 pm
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Gaming and Leisure Properties Inc. announced that its Board of Directors declared a special dividend to shareholders in connection with its previously announced intention to qualify as a real estate investment trust (REIT) in 2014 following its separation from Penn National Gaming Inc. on November 1, 2013. The special dividend of $1.05 billion, or approximately $11.85 per share, will be paid on February 18, 2014 to shareholders of record on January 13, 2014. The amount of cash to be distributed will be $210 million, or 20% of the total distribution, with the remainder to be paid in shares of GLPI common stock.
Gaming and Leisure Properties, Inc. is a self-administered and self-managed real estate investment trust. The Company's business consists of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. Its portfolio consists of interests in approximately 65 gaming and related facilities across 20 states with eight tenants, which consists of the real property associated with gaming and related facilities. Its property portfolio includes Hollywood Casino Lawrenceburg, Hollywood Casino Aurora, Hollywood Casino Joliet, Argosy Casino Alton, Hollywood Casino Toledo, Hollywood Casino Columbus, Hollywood Casino at Charles Town Races, Hollywood Casino at Penn National Race, Hollywood Casino Bangor, Zia Park Casino, Hollywood Casino Gulf Coast, Argosy Casino Riverside, Hollywood Casino St. Louis, Hollywood Gaming at Dayton Raceway, Ameristar Black Hawk, Tioga Downs Casino Resort, Silverado Franklin Hotel & Gaming Complex, and others.