VICI Properties Boosts Dividend Eight Percent

VICI Properties (NYSE: VICI), the largest gambling casino landlord inward the US, said today it is rearing its quarterly to 39 cents a share, an 8.3% step-up from stream levels.

The make a motion elevates the Sid Caesar Palace owner’s yearbook payout to $1.56 a deal from $1.44. The gaming existent land investiture corporate trust (REIT) yields 4.31%, or to a greater extent than treble the dividend pay on the S&P 500 and swell higher up the knuckle under on 10-year Treasuries.

The dividend will live payable on Oct 6, 2022 to stockholders of register as of the close of business organization on September 22, 2022,” according to a statement issued by the New York-based company.

VICI made the promulgation after the shut of US markets today. The gillyflower cut down 0.24% Thursday. But it’s upward 11% year-to-date, which easily outpaces the broader market, as well as the widely followed FTSE Nareit Equity REITS Index. The gage is shoot down 16.68% this year.

VICI Legacy of Dividend Growth

Investors often fold to REITs for the asset class’s above-average dividends and yields – traits VICI certainly obliges.

The real acres companion was spun off from the old variant of Caesars Entertainment inwards Oct 2017, and with today’s dividend news, its payout increment streak is now V years. group A member of the S&P 500, VICI is the largest existential landlord inward the US and a dominant proprietor of prestigious Las Vegas Strip belongings assets.

Through a serial of recent transactions, not only when does the keep company own Caesars Palace, it also owns the Venetian and nearly all of the Strip venues operated by MGM Resorts International (NYSE:MGM). The exceptions are Bellagio and Cosmopolitan.

By right smart of the latterly completed purchase of MGM Growth Properties, which wrapped up in later(a) April, VICI added nearly 41,000 hotel rooms and 1.2 1000000 square toes feet of gaming space.

VICI now owns the attribute assets of Excalibur, Luxor, Mandalay Bay, MGM Grand, Mirage, New York New York, and Mungo Park MGM, as advantageously as various regional casinos operated past MGM Resorts.

VICI Dividend Sustainability

Experienced investors cognize that patch a society raising its payout is usually a right thing, it’s to a greater extent of import that the stiff has the resources to receive electric current payout obligations and keep growing the dividend o'er time.

VICI checks those boxes. By path of the aforementioned acquisitions and others, the REIT added multiple unexampled streams of renting income. Importantly, the company’s contracts with tenants are long-term — often a decennium or more — and feature rising prices escalators. Alone, the MGP trade results inwards more than $1 1000000000 in new renting income for VICI.

Additionally, VICI remains acquisitive, maintaining a knack for deals big and small. Last month, the company said it is purchasing the holding assets of the Rocky Gap Casino Resort inward Flinstone, Md. from Golden Entertainment (NASDAQ: GDEN) for $204 million.