VICI Properties hikes dividend by 3.5%
VICI Properties (VICI) will raise its quarterly dividend by 3.5 percent of $0.2975 per share in 2019. Last year the specialized real estate investment trust (REIT) initiated a pro-rated quarterly dividend of 16 cents per share and this marks the second dividend hike since.
The next dividend will be payable on October 10, 2019 to stockholders of record as of the close of business on September 27, 2019. A new annualized dividend rate of $1.19 yields 5.5% at a stock price of $21.76.
David Kieske, EVP, Chief Financial Officer of the Company, commented, “We are pleased to announce our second annual dividend increase since our IPO in 2018, demonstrating our commitment to delivering consistent year-over-year dividend growth. Increasing the dividend is driven by the income earned from the acquisitions we have closed since our last increase and by our continued commitment to a balanced capital allocation approach. The dividend increase is well supported by our strong balance sheet and cash flow generation, which will be further supplemented when we invest the capital raised in June as our recently announced transactions close.”
VICI Properties Inc. is primarily engaged in the business of owning, acquiring, and leasing of real estate assets across gaming, hospitality, entertainment and leisure destinations. It operates through two segments: real property business and golf course business. The company's properties include Caesars Palace Las Vegas and Harrah's Las Vegas. The company's properties are leased to leading brands such as Caesars, Horseshoe, Harrah’s and Bally’s. VICI Properties also owns four championship golf courses and 34 acres of undeveloped land adjacent to the Las Vegas Strip. VICI Properties’ strategy is to create the nation’s highest quality and most productive experiential real estate portfolio.
The next dividend will be payable on October 10, 2019 to stockholders of record as of the close of business on September 27, 2019. A new annualized dividend rate of $1.19 yields 5.5% at a stock price of $21.76.
David Kieske, EVP, Chief Financial Officer of the Company, commented, “We are pleased to announce our second annual dividend increase since our IPO in 2018, demonstrating our commitment to delivering consistent year-over-year dividend growth. Increasing the dividend is driven by the income earned from the acquisitions we have closed since our last increase and by our continued commitment to a balanced capital allocation approach. The dividend increase is well supported by our strong balance sheet and cash flow generation, which will be further supplemented when we invest the capital raised in June as our recently announced transactions close.”
VICI Properties Inc. is primarily engaged in the business of owning, acquiring, and leasing of real estate assets across gaming, hospitality, entertainment and leisure destinations. It operates through two segments: real property business and golf course business. The company's properties include Caesars Palace Las Vegas and Harrah's Las Vegas. The company's properties are leased to leading brands such as Caesars, Horseshoe, Harrah’s and Bally’s. VICI Properties also owns four championship golf courses and 34 acres of undeveloped land adjacent to the Las Vegas Strip. VICI Properties’ strategy is to create the nation’s highest quality and most productive experiential real estate portfolio.