{"id":231033,"date":"2022-09-08T17:08:23","date_gmt":"2022-09-08T22:08:23","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=231033"},"modified":"2022-09-08T17:34:43","modified_gmt":"2022-09-08T22:34:43","slug":"vici-properties-is-raising-its-dividend-by-more-than-8","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/vici-properties-is-raising-its-dividend-by-more-than-8\/","title":{"rendered":"VICI Properties Boosts Dividend Eight Percent"},"content":{"rendered":"

VICI Properties (NYSE: VICI), the largest casino landlord in the US, said today it is raising its quarterly to 39 cents a share, an 8.3% increase from current levels.<\/p>\n

\"VICI
Caesars Palace on the Las Vegas Strip. The company raised its dividend 8.3%. (Image: CNN<\/em>)<\/figcaption><\/figure>\n

The move elevates the Caesar Palace owner\u2019s annual payout to $1.56 a share from $1.44. The gaming real estate investment trust (REIT) yields 4.31%, or more than triple the dividend yield on the S&P 500 and well above the yield on 10-year Treasuries.<\/p>\n

The dividend will be payable on October 6, 2022 to stockholders of record as of the close of business on September 22, 2022,\u201d<\/strong> according to a statement issued by the New York-based company.<\/p><\/blockquote>\n

VICI made the announcement after the close of US markets today. The stock fell 0.24% Thursday. But it\u2019s up 11% year-to-date, which easily outpaces the broader market, as well as the widely followed FTSE Nareit Equity REITS Index. The gauge is down 16.68% this year.<\/p>\n

VICI Legacy of Dividend Growth<\/h2>\n

Investors often flock to REITs for the asset class\u2019s above-average dividends and yields \u2013 traits VICI certainly obliges.<\/p>\n

\n

The real estate company was spun off from the old version of Caesars Entertainment in October 2017, and with today\u2019s dividend news, its payout increase streak is now five years. A member of the S&P 500<\/a>, VICI is the largest experiential landlord in the US and a dominant owner of prestigious Las Vegas Strip property assets.<\/p>\n<\/div>\n

Through a series of recent transactions, not only does the 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.<\/p>\n

By way of the recently completed purchase of MGM Growth Properties, which wrapped up in late April<\/a>, VICI added nearly 41,000 hotel rooms and 1.2 million square feet of gaming space.<\/p>\n

VICI now owns the property assets of Excalibur, Luxor, Mandalay Bay, MGM Grand, Mirage, New York New York, and Park MGM, as well as various regional casinos operated by MGM Resorts.<\/strong><\/p>\n

VICI Dividend Sustainability<\/h2>\n

Experienced investors know that while a company raising its payout is usually a good thing, it\u2019s more important that the firm has the resources to meet current payout obligations and continue growing the dividend over time.<\/p>\n

VICI checks those boxes. By way of the aforementioned acquisitions and others, the REIT added multiple new streams of rental income. Importantly, the company\u2019s contracts with tenants are long-term — often a decade or more — and feature inflation escalators. Alone, the MGP deal results in more than $1 billion in new rental income for VICI.<\/strong><\/p>\n

Additionally, VICI remains acquisitive, maintaining a knack for deals large and small. Last month, the company said it is buying the property assets of the Rocky Gap Casino Resort in Flinstone, Md. from Golden Entertainment (NASDAQ: GDEN) for $204 million<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

VICI Properties (NYSE: VICI), the largest casino landlord in the US, said today it is raising its quarterly to 39 cents a share, an 8.3% increase from current levels. The move elevates the Caesar Palace owner\u2019s annual payout to $1.56 a share from $1.44. The gaming real estate investment trust (REIT) yields 4.31%, or more […]<\/p>\n","protected":false},"author":46,"featured_media":231036,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,33810],"tags":[81903,81898],"acf":[],"yoast_head":"\nVICI Properties Is Raising Its Dividend By More Than 8%<\/title>\n<meta name=\"description\" content=\"VICI Properties continues dividend increase streak with news of 8.3% raise.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/vici-properties-is-raising-its-dividend-by-more-than-8\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"VICI Properties Is Raising Its Dividend By More Than 8%\" \/>\n<meta property=\"og:description\" content=\"VICI Properties continues dividend increase streak with news of 8.3% raise.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/vici-properties-is-raising-its-dividend-by-more-than-8\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-08T22:08:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-09-08T22:34:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/CP9822.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/vici-properties-is-raising-its-dividend-by-more-than-8\/\",\"url\":\"https:\/\/www.casino.org\/news\/vici-properties-is-raising-its-dividend-by-more-than-8\/\",\"name\":\"VICI Properties Is Raising Its Dividend By More Than 8%\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/vici-properties-is-raising-its-dividend-by-more-than-8\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/vici-properties-is-raising-its-dividend-by-more-than-8\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/CP9822.jpg\",\"datePublished\":\"2022-09-08T22:08:23+00:00\",\"dateModified\":\"2022-09-08T22:34:43+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"VICI Properties continues dividend increase streak with news of 8.3% raise.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/vici-properties-is-raising-its-dividend-by-more-than-8\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/vici-properties-is-raising-its-dividend-by-more-than-8\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/vici-properties-is-raising-its-dividend-by-more-than-8\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/CP9822.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/CP9822.jpg\",\"width\":1200,\"height\":675,\"caption\":\"Caesars Palace on the Las Vegas Strip. 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