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MGM Growth Properties LLC (MGP) will raise its quarterly dividend by another 2.3 percent to $0.4475 per share in the first quarter of 2019. This is the 6th dividend increase since MGP's initial public offering in April 2016.

The dividend will be payable on January 15, 2019 to shareholders of record as of the close of business on December 31, 2018.

A new annualized dividend rate of $1.79 per share yields 6.1% at a stock price of $29.43.

MGM Growth Properties LLC is one of the leading publicly traded real estate investment trusts engaged in the acquisition, ownership and leasing of large-scale destination entertainment and leisure resorts, whose diverse amenities include casino gaming, hotel, convention, dining, entertainment and retail offerings.