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Section 1: 8-K (8-K)


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 
 


FORM 8-K
 


CURRENT REPORT

Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

September 11, 2018
Date of Report (Date of earliest event reported)
 


STORE Capital Corporation
(Exact name of registrant as specified in its charter)
 


Maryland
001-36739
45-2280254
(State or other jurisdiction of incorporation)
(Commission  File Number)
(IRS Employer Identification No.)

8377 East Hartford Drive, Suite 100
Scottsdale, AZ
 
85255
(Address of Principal Executive Offices)
 
(Zip Code)

Registrant’s telephone number, including area code: (480) 256-1100
 

 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 


Item 8.01
Other Events.

On September 11, 2018, STORE Capital Corporation (the “Company”) issued a press release announcing that its Board of Directors has authorized, and the Company has declared, a regular quarterly cash dividend on its common stock of $0.33 per share for the third quarter ending September 30, 2018.  On an annualized basis, this dividend of $1.32 per common share represents an increase of $0.08 per share over the previous annualized dividend.  The dividend will be paid on October 15, 2018 to the Company’s stockholders of record as of the close of business on September 28, 2018.  A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.


Item 9.01
Financial Statements and Exhibits.

(d) Exhibits.

Exhibit
Description
Press Release dated September 11, 2018
 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
STORE Capital Corporation
   
Dated: September 11, 2018
 
 
By:
/s/ Michael T. Bennett
   
Michael T. Bennett
   
Executive Vice President-General Counsel
 
 

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Section 2: EX-99.1 (EXHIBIT 99.1)


Exhibit 99.1
 
 
STORE Capital Increases Quarterly Dividend to $0.33 per Share
or 6.5% Over Prior Quarter

Company Release – September 11, 2018 06:45 AM ET

SCOTTSDALE, Ariz.--(BUSINESS WIRE)--STORE Capital Corporation (NYSE: STOR), an internally managed net-lease real estate investment trust (REIT) that invests in Single Tenant Operational Real Estate, today announced that it has declared a regular quarterly cash dividend on its common stock of $0.33 per share for the third quarter ending September 30, 2018. On an annualized basis, this dividend of $1.32 per common share represents an increase of $0.08 per share over the previous annualized dividend. The dividend will be paid on October 15, 2018 to STORE Capital stockholders of record as of the close of business on September 28, 2018.
 
“We are happy to announce that we have increased our dividend by 6.5%, reflecting our outlook for continued strong growth and performance,” said Christopher H. Volk, President and Chief Executive Officer of STORE Capital. “Through a combination of external and internal growth, we have been able to generate consistently high levels of retained cash flow, allowing us to increase our dividend every year since our IPO in late 2014, while also delivering double-digit returns to our shareholders. Cumulatively, we are proud to have increased our quarterly dividend by 32%, while maintaining a payout ratio close to 70% of adjusted funds from operations.”
 
About STORE Capital
 
STORE Capital Corporation is an internally managed net-lease real estate investment trust, or REIT, that is the leader in the acquisition, investment and management of Single Tenant Operational Real Estate, which is its target market and the inspiration for its name. STORE Capital is one of the largest and fastest growing net-lease REITs and owns a large, well-diversified portfolio that consists of investments in over 2,000 property locations, substantially all of which are profit centers, in 49 states. Additional information about STORE Capital can be found on its website at www.storecapital.com.
 

STORE Capital Corporation
Page 2 of  2

Forward-Looking Statements
 
Certain statements contained in this press release that are not historical facts, including the statement regarding the Company’s outlook for continued strong growth and performance, contain forward-looking statements. Forward-looking statements can be identified by the use of words such as “estimate,” “anticipate,” “expect,” “believe,” “intend,” “may,” “will,” “should,” “seek,” “approximate” or “plan,” or the negative of these words and phrases or similar words or phrases. Forward-looking statements, by their nature, involve estimates, projections, goals, forecasts and assumptions and are subject to risks and uncertainties that could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. For more information on risk factors for STORE Capital’s business, please refer to the periodic reports the Company files with the Securities and Exchange Commission from time to time. These forward-looking statements herein speak only as of the date of this press release and should not be relied upon as predictions of future events. STORE Capital expressly disclaims any obligation or undertaking to update or revise any forward-looking statements contained herein, to reflect any change in STORE Capital’s expectations with regard thereto, or any other change in events, conditions or circumstances on which any such statement is based, except as required by law.

Investor and Media Contacts:
 
Financial Profiles, Inc.
Moira Conlon, 310-622-8220
Tricia Ross, 310-622-8226
STORECapital@finprofiles.com
 
 

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