NewLake Capital Partners Declares Q3 2024 Dividend of $0.43
NewLake Capital Partners Announces Third Quarter Dividend
NewLake Capital Partners, Inc. (OTCQX: NLCP), based in New Canaan, Connecticut, recently shared exciting news about its financial performance. The company, recognized for its role as a leading provider of real estate capital to state-licensed cannabis operators, has declared a cash dividend of $0.43 per share for the third quarter of 2024.
Details on the Q3 2024 Dividend
This latest dividend reflects the company's robust performance and commitment to returning value to its shareholders. The announced dividend calculates to an annualized figure of $1.72 per share. Shareholders can expect this payment on the 15th of October 2024, provided they held common stock as of the close of business on the 30th of September 2024.
Understanding NewLake's Business Model
NewLake Capital Partners specializes in providing real estate capital by using innovative methods such as sale-leaseback transactions. This approach allows the company to support state-licensed cannabis businesses while efficiently managing its portfolio. Currently, NewLake owns a total of 32 cultivation facilities and dispensaries, all leased on a triple-net basis to dedicated tenants.
The Importance of Cannabis Sector Investments
The cannabis sector has been gaining traction as various states continue to legalize its use. This growth has opened numerous opportunities for companies like NewLake to capitalize on the increasing demand for cannabis-related real estate services. By focusing on this niche market, NewLake positions itself as a preferred partner for cannabis operators.
Corporate Structure and Management
NewLake Capital Partners is an internally managed real estate investment trust (REIT), which sets it apart in the industry. This structure allows the company to maintain direct control over its investment operations and strategy, fostering an environment of transparency and efficiency. With a dedicated team at its helm, NewLake strives to navigate the complexities of the cannabis market.
Recent Performance Highlights
In recent quarters, NewLake has exhibited consistent growth, reflecting the increasing stability of the cannabis market. By investing in facilities that support cannabis cultivation and distribution, NewLake enhances its revenue streams and overall profitability. Investors can look forward to hearing more about the company’s performance in upcoming reports.
About NewLake Capital Partners
As previously mentioned, NewLake Capital Partners is committed to providing real estate capital specifically aimed at cannabis operators. Its business model focuses on forming long-term partnerships that offer stability and opportunities for growth. The company's strategy has positioned it well amidst the evolving landscape of the cannabis industry.
Leadership and Contact Information
Leading NewLake Capital Partners are experienced professionals dedicated to driving the company's mission forward. Lisa Meyer serves as the Chief Financial Officer, Treasurer, and Secretary. For inquiries regarding financial matters, you can reach Lisa at lmeyer@newlake.com.
For investor relations, Valter Pinto is the Managing Director at KCSA Strategic Communications, reachable at newlake@kcsa.com or by phone at (212) 896-1254. Additionally, media inquiries can be directed to Ellen Mellody at EMellody@kcsa.com, with a contact number of (570) 209-2947.
Frequently Asked Questions
1. What is the amount of the dividend declared by NewLake Capital Partners?
The dividend declared is $0.43 per share for the third quarter of 2024.
2. When will the dividend be paid?
The dividend is scheduled to be paid on October 15, 2024.
3. What business model does NewLake Capital Partners follow?
NewLake operates as an internally managed real estate investment trust (REIT), focusing on cannabis operators.
4. How many facilities does NewLake Capital Partners own?
The company owns a portfolio of 32 cultivation facilities and dispensaries.
5. Who can I contact for more information about the company?
You can reach Lisa Meyer, CFO, at lmeyer@newlake.com for financial inquiries.
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