Gaming and Leisure Properties, announced today that its Board of Directors approved a 2.94 percent increase in the quarterly cash dividend to $0.70 per share of its common stock beginning with the dividend declared for the fourth quarter of 2019. The dividend is payable on December 27, 2019 to shareholders of record on December 13, 2019. The increase in the quarterly cash dividend represents the sixth increase in the cash dividend since Gaming and Leisure Properties was formed in late 2013. The new dividend rate represents a 34.6% increase over the Company's first quarterly cash dividend payment which was paid in March of 2014 (excluding the special dividend paid in February 2014). On an annualized basis, the new quarterly dividend represents an annual yield of 6.6% based on the $42.27 per share closing price of the Company's stock on November 26, 2019.
The Board of Directors of McCormick today declared an increase in the quarterly dividend from $0.57 to $0.62 per share on its common stocks, payable January 13, 2020 to shareholders of record December 31, 2019. This marks the 34th consecutive year that the Company has increased its quarterly dividend. At $0.62, the quarterly dividend is double the amount paid in 2012. McCormick has paid dividends each year since 1925.
Sun Communities, a real estate investment trust, that owns and operates or has an interest in manufactured housing and recreational vehicle communities, today announced its Board of Directors declared a quarterly distribution of $0.75 per share of common stock for the fourth quarter of 2019. The distribution is payable January 15, 2020 to shareholders of record on December 31, 2019.
The Board of Directors of Best Buy has authorized the payment of a regular quarterly cash dividend of $0.50 per common share. The quarterly dividend is payable on January 7, 2020, to shareholders of record as of the close of business on December 17, 2019. The company had 260,175,513 shares of common stock issued and outstanding as of November 2, 2019.
Monro, a leading provider of automotive undercar repair and tire services, today announced that its Board of Directors has declared a quarterly cash dividend of $.22 per share on the Company's outstanding shares of common stock, including the shares of common stock to which the holders of the Company's Class C Convertible Preferred Stock are entitled. The dividend is payable on December 24, 2019 to shareholders of record at the close of business on December 10, 2019.
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