MGM Growth Properties LLC (MGP) will raise its quarterly dividend by another 1.0 percent to 52.5 cents quarterly. This marks the fourth dividend hike in 2021 by MGP for a total increase of 7.7 percent.
The next MGP dividend will be payable on January 14, 2022 to shareholders of record as of the close of business on December 31, 2021. This is the 15th dividend increase since MGP's initial public offering in April 2016.
MGM Growth Properties 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. The company owns Las Vegas Strip properties including Mandalay Bay, The Mirage, Monte Carlo, New York-New York, Luxor and Excalibur.