VICI Properties Inc. Increases Regular Quarterly Dividend By 3.5%
NEW YORK--(BUSINESS WIRE)--Sep 12, 2019--
VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or the “Company”) announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.2975 per share of common stock for the period from July 1, 2019 to September 30, 2019 (an implied annualized dividend of $1.19 per share), which represents a 3.5% increase from the current annualized dividend rate. The dividend will be payable on October 10, 2019 to stockholders of record as of the close of business on September 27, 2019.
David Kieske, EVP, Chief Financial Officer of the Company, commented, “We are pleased to announce our second annual dividend increase since our IPO in 2018, demonstrating our commitment to delivering consistent year-over-year dividend growth. Increasing the dividend is driven by the income earned from the acquisitions we have closed since our last increase and by our continued commitment to a balanced capital allocation approach. The dividend increase is well supported by our strong balance sheet and cash flow generation, which will be further supplemented when we invest the capital raised in June as our recently announced transactions close.”
About VICI Properties
VICI Properties is an experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, including the world-renowned Caesars Palace. VICI Properties’ national, geographically diverse portfolio consists of 23 gaming facilities comprising over 40 million square feet and features approximately 15,200 hotel rooms and more than 150 restaurants, bars and nightclubs. Its properties are leased to industry leading gaming and hospitality operators, including Caesars Entertainment Corporation and Penn National Gaming, Inc. 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. For additional information, please visit www.viciproperties.com.
This press release contains forward-looking statements within the meaning of the federal securities laws. You can identify these statements by our use of the words “assumes,” “believes,” “estimates,” “expects,” “guidance,” “intends,” “plans,” “projects,” and similar expressions that do not relate to historical matters. All statements other than statements of historical fact are forward-looking statements. You should exercise caution in interpreting and relying on forward-looking statements because they involve known and unknown risks, uncertainties, and other factors which are, in some cases, beyond the Company’s control and could materially affect actual results, performance, or achievements. Important risk factors that may affect the Company’s business, results of operations and financial position are detailed from time to time in the Company’s filings with the Securities and Exchange Commission. The Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as may be required by applicable law.
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EVP, Chief Financial Officer
Vice President, Finance
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY REIT
SOURCE: VICI Properties Inc.
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PUB: 09/12/2019 04:15 PM/DISC: 09/12/2019 04:15 PM