AFC Gamma And NewLake Capital Partners Both Increase Dividends

AFC Gamma, Inc. AFCG and NewLake Capital Partners, Inc. NLCP declared dividends for the quarter ending June 30, 2022.

AFC Gamma

The board of directors of AFC Gamma declared a quarterly dividend of $0.56 for the quarter ending June 30, 2022 per outstanding share of common stock, payable on July 15, 2022 to the common stockholders of record on June 30, 2022. The June quarterly dividend represents the fourth consecutive increase of AFC Gamma’s quarterly dividend and a 47.4% year-over-year dividend increase.

AFC Gamma, Inc. is an institutional lender that provides a range of lending solutions to established operators in the cannabis industry. AFC Gamma originates, structures and underwrites senior secured loans and other types of financing to operators in states that have legalized medicinal and/or adult-use cannabis.

NewLake Capital Partners

The board of directors of NewLake Capital Partners has declared a second quarter 2022 cash dividend of $0.35 per share of common stock. The dividend is equivalent to an annualized dividend of $1.40 per common share, and is the company’s fifth consecutive quarterly dividend increase. The dividends are payable on July 15, 2022 to stockholders of record at the close of business on June 30, 2022.

NewLake Capital Partners, Inc. is an internally-managed real estate investment trust that provides real estate capital to state-licensed cannabis operators through sale-leaseback transactions and third-party purchases and funding for build-to-suit projects. NewLake owns a portfolio of 28 cultivation facilities and dispensaries that are leased to single tenants on a triple-net basis, and has provided one loan collateralized by a cultivation facility structured to convert to a sale-leaseback unless specific provisions are met by July 29, 2022.

Photo by Mackenzie Marco on Unsplash

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