Understanding Gaming and Leisure Properties' 2024 Tax Treatment
Understanding the 2024 Distribution Tax Allocation
Gaming and Leisure Properties, Inc. (NASDAQ: GLPI), a leader in the real estate investment trust sector, has made an important announcement regarding its federal income tax allocation for 2024. The company reported an aggregate distribution of $3.04 per share for its common stock. This announcement outlines how these distributions will impact shareholders from a tax perspective.
The Tax Allocation Process Explained
As Gaming and Leisure Properties prepares its tax return for the year ending December 31, 2024, the allocation of the income tax for the distributions has been calculated carefully. It's essential to note that these calculations reflect the best available information as of the announcement date.
Distribution Details
The table below summarizes the distribution schedule and tax treatment for the shareholders:
Distribution Schedule Breakdown
Shareholders should look at each distribution’s record date, payable date, and the total distribution per share, marked clearly in the following summary:
Record Date: 03/15/2024, Payable Date: 03/29/2024, Total Distribution Per Share: $0.760000, Total Ordinary Dividends: $0.739603, Qualified Dividends: $0.000000, Total Capital Gain Distribution: $0.004452, Nondividend Distributions: $0.015945.
Important Tax Considerations
Federal tax laws influence how shareholders must approach reporting their distributions. Each shareholder's fiscal situation can vary significantly. Therefore, it is highly advisable for shareholders to consult with their tax advisors regarding their specific obligations. This can ensure compliance with varying state and local taxation of real estate investment trust distributions.
The Role of Gaming and Leisure Properties
Gaming and Leisure Properties focuses on acquiring and owning real estate that primarily benefits gaming operators. The company enters into triple-net lease arrangements, meaning that the tenant bears the full responsibility for facility maintenance, insurance, taxes tied to the properties, and utilities. This strategy allows Gaming and Leisure Properties to manage risk effectively while providing reliable returns for its investors.
Company Contact Information
For inquiries, shareholders and interested parties can reach out to:
Gaming and Leisure Properties, Inc.
Matthew Demchyk, Chief Investment Officer
Phone: 610/401-2900
Email: investorinquiries@glpropinc.com
Investor Relations Contacts:
Joseph Jaffoni, Richard Land, James Leahy at JCIR
Phone: 212/835-8500
Email: glpi@jcir.com
Frequently Asked Questions
What is the total distribution amount per share for 2024?
The total distribution amount is $3.04 per share for 2024.
How often do Gaming and Leisure Properties make distributions?
Distributions are made quarterly, providing a consistent income stream for shareholders.
What should shareholders consider regarding tax implications?
Shareholders are encouraged to consult their tax advisors as tax treatment may vary based on individual circumstances and local laws.
What type of leases does Gaming and Leisure Properties use?
The company utilizes triple-net leases, placing the responsibility of expenses on the tenant.
Who should shareholders contact for more information?
Shareholders can contact Matthew Demchyk or the investor relations team for any queries regarding distributions and financial matters.
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