Missouri-based multistate operator Greenlight Dispensary is believed to be the first big U.S. marijuana company to issue a dividend to investors – and it could be the last, at least for the foreseeable future.
The privately held company issued a dividend in April that makes up a little more than 4% of the total capital invested in Greenlight and totals seven figures, John Mueller, co-founder and chief executive officer, told MJBizDaily.
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He declined to be more specific about the total value of the dividend.
While it’s a special dividend at this stage, Mueller said he hopes it will eventually be issued quarterly.
“We’re trying to standardize the cannabis industry and show that we can issue and return capital to our shareholders just like any other industry,” Mueller said.
Greenlight currently operates 27 cannabis stores in Arkansas, Illinois, Missouri, South Dakota and West Virginia.
The Kansas City-headquartered
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