NewLake Capital Partners: Board Expansion and Dividend Declaration

NewLake Capital Partners, Inc. (OTCQX: NLCP), a leading provider of real estate capital to state-licensed cannabis operators, has announced two significant developments: the appointment of Dina Rollman to its Board of Directors and the declaration of a fourth quarter 2024 dividend of $0.43 per share. These moves signal the company's commitment to strategic growth and shareholder value.

Dina Rollman's appointment to the Board of Directors expands the board to eight members, preparing for the anticipated retirement of Peter Kadens in June 2025. Rollman brings extensive cannabis industry experience, having served as CEO of Powr Plant Inc. and former Senior VP for Government Affairs at Green Thumb Industries. Her expertise in legal and regulatory affairs will be invaluable as NewLake navigates the evolving cannabis industry landscape.

Rollman's appointment is a strategic move by NewLake to strengthen its board and adapt to the changing cannabis market. Her insights into the regulatory environment will be crucial in helping the company capitalize on growth opportunities and make informed investment decisions. With meaningful growth opportunities in an evolving landscape, Rollman is eager to contribute her experience and insights to help shape the future of NewLake.

In addition to the board expansion, NewLake's Board of Directors has declared a fourth quarter 2024 cash dividend of $0.43 per share of common stock. This dividend is equivalent to an annualized dividend of $1.72 per common share and is payable on January 15, 2025, to common stockholders of record at the close of business on December 31, 2024. This maintained quarterly dividend demonstrates NewLake's commitment to shareholder distributions and consistent financial performance.

The declared dividend represents a significant payout, equivalent to approximately 4.5% of NLCP's current stock price. While this dividend reduces NLCP's cash on hand, it also generates income for shareholders, which can be reinvested into the company or used for other purposes. The impact on NLCP's liquidity position will depend on the company's cash flow from operations and its ability to generate additional cash through asset sales or new financing.

NewLake Capital Partners' board expansion and dividend declaration reflect the company's commitment to strategic growth and shareholder value. With Dina Rollman's appointment, NewLake gains valuable expertise in legal and regulatory affairs, positioning the company to capitalize on growth opportunities in the dynamic cannabis industry. The maintained quarterly dividend demonstrates NewLake's commitment to consistent financial performance and shareholder distributions. As the cannabis industry continues to evolve, NewLake's strategic moves set the stage for continued success and growth.