Company: GLPI
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001575965-25-000031
Chunk: 127

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 8
Chunk 127
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 a ten-year term, which was entered into to hedge the variability in interest rates associated with an expected issuance of senior unsecured notes.  The swap is indexed to USD-SOFR and qualifies for hedge accounting under ASC 815.  The unrealized gain recorded in other comprehensive income reflects the increase in fair value of the swap from the trade date through June 30, 2025, as interest rates have increased since the trade date.  The hedge remains highly effective, and no amounts have been reclassified to earnings as the hedged transaction has not yet occurred.  InstrumentFair ValueBalance Sheet ClassificationFixed rateNotional IndexMaturity(in thousands)Forward-starting interest rate swap$864Other assets3.585%$100,000USD-SOFR12/15/2035DividendsThe following table lists the dividends declared and paid by the Company during the six months ended June 30, 2025 and 2024:Declaration DateShareholder Record DateSecurities ClassDividend Per SharePeriod CoveredDistribution DateDividend Amount(in thousands)2025February 13, 2025March 14, 2025Common Stock$0.76First Quarter 2025March 28, 2025$208,873May 15, 2025June 13, 2025Common Stock$0.78Second Quarter 2025June 27, 2025$220,7432024February 26, 2024March 15, 2024Common Stock$0.76First Quarter 2024March 29, 2024$206,340May 20, 2024June 7, 2024Common Stock$0.76Second Quarter 2024June 21, 2024$206,340In addition, for the three and six months ended June 30, 2025, dividend payments were made to GLPI restricted stock award holders in the amount of $0.2 million and $0.4 million. For the three and six months ended June 30, 2024, dividend payments were made to GLPI restricted stock award holders in the amount of $0.3 million and $0.5 million.

13.    Stock-Based Compensation

     The Company's Amended and Restated 2013 Long Term Incentive Compensation Plan (the "2013 Plan") provides for the Company to issue restricted stock awards, including performance-based restricted stock awards, and other equity or cash-based awards.