VICI Properties hikes dividend by 8.3%

On September 8, 2022, VICI Properties (VICI) announced a dividend hike of 8.3% to $0.39 quarterly per share. The specialized real estate investment trust (REIT) has now raised the dividend 4 consecutive years and the dividend yield jumps to 4.3%.

The next VICI dividend will be payable on October 6, 2022 to stockholders of record as of the close of business on September 22, 2022. A new annualized dividend rate of $1.56 per share yields 4,3% at a stock price of $33.42.

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.