Gaming and Leisure Properties (GLPI) will raise its quarterly dividend by 2.2 percent to $0.705 per share in Q2 of 2022. This follows a 3 percent dividend hike in Q1 by GLPI.

The next GLPI dividend of $0.705 per share will be paid on June 24, 2022, to shareholders of record on June 10, 2022. A new annualized dividend rate of $2.82 per share yields 6.5% at a stock price of $42.52. The ex-date for the next GLPI dividend is June 10, 2022. The annual dividend payment by Gaming and Leisure Properties will now jump to an estimated total of $672 million.

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.