NEW CANAAN, Conn., December 16, 2022 — NewLake Capital Partners, Inc. (OTCQX: NLCP) (“The Company” or “NewLake”), a leading provider of real estate capital to state-licensed cannabis operators, today announced that its board of directors has declared a fourth quarter 2022 cash dividend of $0.39 per share of common stock.
The dividend is equivalent to an annualized dividend of $1.56 per common share. This is the Company’s seventh consecutive quarterly dividend increase, and represents a 5.4% quarter-over-quarter increase and a 25.8% increase year-over-year. The dividend is payable on January 13, 2023, to stockholders of record at the close of business on December 30, 2022.
About NewLake Capital Partners, Inc.
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 32 cultivation facilities and dispensaries that are leased to single tenants on a triple-net basis. For more information, please visit www.newlake.com.