Gaming and Leisure Properties, Inc., on Wednesday unveiled the results of shareholder elections relating to its quarterly dividend.
The Wyomissing, Pennsylvania-based company noted its board of directors declared a dividend on Nov. 5. Shareholders decided to receive a dividend of $0.60 per share of the company’s common stock, par value $0.01 per share, consisting of a combination of cash and shares.
The dividend will be paid on Dec. 24 to shareholders of record on Nov. 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 company explained.
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.
Some shareholders elected to receive the dividend in all stock, while others will receive the dividend in all cash.
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. GLPI elected to be taxed as a real estate investment trust for U.S. federal income tax purposes commencing with the 2014 taxable year and was the first gaming-focused REIT in North America.
