NewLake Capital Partners Declares Third Quarter Dividend
NewLake Capital Partners, Inc. (OTCQX: NLCP), located in New Canaan, Connecticut, recently made an exciting announcement regarding its financial results. The company, known for being a key player in providing real estate capital to state-licensed cannabis operators, has declared a cash dividend of $0.43 per share for the third quarter of 2024.
Q3 2024 Dividend Details
The newly announced dividend highlights the company’s strong performance and its dedication to returning value to shareholders. This dividend translates to an annualized amount of $1.72 per share. Shareholders can expect to receive this payment on October 15, 2024, as long as they owned common stock by the market close on September 30, 2024.
Insights into NewLake's Business Model
NewLake Capital Partners focuses on providing real estate capital through innovative methods, including sale-leaseback transactions. This strategy enables the company to support licensed cannabis businesses while effectively managing its portfolio. Currently, NewLake owns and leases 32 cultivation facilities and dispensaries, each on a triple-net basis to committed tenants.
Investment Significance in the Cannabis Sector
The cannabis industry is gaining momentum as more states adopt legalization measures. This growth creates numerous opportunities for companies like NewLake, allowing them to take advantage of the rising demand for cannabis-related real estate services. By concentrating on this specific market, NewLake positions itself as a favored partner among cannabis operators.
Corporate Structure and Leadership
NewLake Capital Partners functions as an internally managed real estate investment trust (REIT), which distinguishes it within the industry. This structure grants the company direct control over its investment strategies and operations, fostering both transparency and efficiency. With a dedicated team leading the charge, NewLake is well-equipped to navigate the complexities of the cannabis market.
Recent Performance Highlights
In the last few quarters, NewLake has consistently demonstrated growth, mirroring the strengthening of the cannabis market. By investing in facilities that facilitate cannabis cultivation and distribution, NewLake boosts its revenue and overall profitability. Investors can look forward to receiving updates on the company's performance in future reports.
About NewLake Capital Partners
NewLake Capital Partners is focused on delivering real estate capital specifically targeting cannabis operators. Its business model emphasizes building long-term partnerships that ensure stability and open doors to growth opportunities. The company’s strategy has positioned it favorably amidst the shifting landscape of the cannabis industry.
Team Leadership and Contact Information
A skilled team of professionals leads NewLake Capital Partners, committed to advancing the company’s mission. Lisa Meyer serves as the Chief Financial Officer, Treasurer, and Secretary. For any financial inquiries, you can contact Lisa at lmeyer@newlake.com.
For investor relations, reach out to Valter Pinto, Managing Director at KCSA Strategic Communications, via newlake@kcsa.com or by phone at (212) 896-1254. Media inquiries can be directed to Ellen Mellody at EMellody@kcsa.com, also at (570) 209-2947.
Frequently Asked Questions
1. What is the declared dividend amount for NewLake Capital Partners?
The declared dividend is $0.43 per share for the third quarter of 2024.
2. When will the dividend be disbursed?
The dividend is set to be paid on October 15, 2024.
3. What type of business model does NewLake Capital Partners utilize?
NewLake operates as an internally managed real estate investment trust (REIT), concentrating on cannabis operators.
4. How extensive is NewLake Capital Partners' portfolio?
The company owns a total of 32 cultivation facilities and dispensaries.
5. Who should I contact for more information about NewLake Capital Partners?
For financial inquiries, you can reach Lisa Meyer, CFO, at lmeyer@newlake.com.
