VICI Properties combines yield with growth

4.2% dividend hike in 2024 and a 5.2% dividend yield

Casino REIT VICI Properties (VICI) hikes the dividend by 4.2% to a new record high $0.4325 quarterly per share. This marks the 6th consecutive year of increased dividends by VICI, combined with a 5.15% dividend yield.

VICI Properties announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.4325 per share of common stock for the period from July 1, 2024 to September 30, 2024, representing an annualized amount of $1.73 per share and a 4.2% increase from the current dividend rate. The dividend will be payable on October 3, 2024 to stockholders of record as of the close of business on September 18, 2024.

In 2023 VICI hiked the dividend by 6.4% and the 5 year CAGR for the dividend is 7.8%. The company now pays an estimated $1.8 billion in dividends annually.

VICI Properties Inc. is primarily engaged in the business of owning, acquiring, and leasing of real estate assets across gaming, hospitality, entertainment and leisure destinations. It operates through two segments: real property business and golf course business. The company's properties include Caesars Palace Las Vegas and Harrah's Las Vegas. The company's properties are leased to leading brands such as Caesars, Horseshoe, Harrah’s and Bally’s. VICI Properties also owns four championship golf courses and 34 acres of undeveloped land adjacent to the Las Vegas Strip. VICI Properties’ strategy is to create the nation’s highest quality and most productive experiential real estate portfolio.

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