Gaming and Leisure Properties (GLPI) will raise its quarterly dividend by 7.9 percent to $0.68 per share in the fourth quarter of 2018. This follows a dividend hike of 3 cents to 63 cents quarterly in 2017.

The increased dividend is payable on December 28, 2018 to shareholders of record on December 14, 2018.  The company anticipates 2019 annual dividends of approximately $2.72 to $2.76 per share.

Chief Executive Officer, Peter M. Carlino, commented “The successful completion of this transaction demonstrates our ability to create value for our shareholders through complex and unique structures.  Additionally, it shows our readiness to partner with our tenants to help them grow and achieve their own strategic goals.  Through this transaction, we have added an economic interest in two additional high quality regional gaming facilities, increasing our annual real estate income by $45.3 million.  In Boyd, we have added a new tenant that is highly regarded in the gaming space and is an active consolidator of casino assets and operations.  Further, in announcing our 2019 dividend guidance, we are pleased to demonstrate our commitment to accretive growth and increasing returns to shareholders.”

Gaming and Leisure Properties, Inc. is a Pennsylvania real estate investment trust (REIT). The Company is engaged in the business of acquiring, financing and owning real estate property to be leased to gaming operators in triple net lease arrangements. GLP’s portfolio currently consists of 43 gaming and related facilities, which are geographically diversified across 15 states. Its tenants include Penn National Gaming, Inc., Casino Queen, Pinnacle Entertainment, Inc. and Eldorado Resorts, Inc. GLP also owns and operates Hollywood Casino Baton Rouge and Hollywood Casino Perryville through an indirect wholly-owned subsidiary, GLP Holdings, Inc.