Gaming and Leisure Properties (GLPI) will raise its quarterly dividend by 8.3 percent to 65 cents per share in the first quarter of 2021. This comes after a cut of the quarterly dividend by 14.3 percent to 60 cents per share because of the COVID-19 pandemic last year. In 2020 GLPI first raised its quarterly dividend by 2.9 percent to $0.70 per share. The previous dividend of 60 cents had a cash component of 12 cents and 48 cents as a stock dividend to be paid in new shares by GLPI.

The next dividend of $0.65 per share will be paid on March 8, 2021, to shareholders of record on March 23, 2021. A new annualized dividend rate of $2.60 per share yields 5.6% at a stock price of $46. 

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.