MGM Growth Properties to issue Q4 dividend
Real estate investment trust now owns 12 resorts in the US.
MGM Growth Properties LLC on Tuesday said its board of directors has declared a cash dividend for the fourth quarter.
The company said the quarterly cash dividend will be in the amount of $0.4875 per Class A common share for the fourth quarter, which it noted represents a dividend of $1.95 on an annualized basis.
The dividend will be payable on 15 January, 2021, to shareholders of record as of the close of business on 31 December, 2020.
MGM Growth Properties is a publicly traded real estate investment trust engaged in the acquisition, ownership and leasing of large-scale destination entertainment and leisure resorts. Its holdings include casino gaming, hotel, convention, dining, entertainment and retail offerings.
MGP, together with its joint venture, currently owns a portfolio of properties consisting of 12 resorts in Las Vegas and elsewhere across the United States, including MGM Northfield Park in Northfield, Ohio, Empire Resort Casino in Yonkers, NY, and The Park in Las Vegas.
As of 31 December, 2019, those three destination resorts collectively comprised approximately 27,400 hotel rooms, 1.4 million casino square footage, and 2.7 million convention square footage.
MGP said in a statement it expects its relationship with MGM Resorts and other entertainment providers to “attractively position MGP for the acquisition of additional properties across the entertainment, hospitality and leisure industries.”
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