Dividend Power Score
A single, comprehensive score designed to measure the true strength of a company’s dividend.
This score combines three essential pillars of dividend quality:
Consistency – Measures how reliable the dividend has been over time, focusing on payment history, stability, and the absence of cuts or suspensions.
Payability – Assesses the company’s financial ability to sustain its dividend, taking into account cash flow, earnings coverage, balance sheet strength, and overall financial health.
Growth – Evaluates the long-term growth of both the dividend and the company’s share price, highlighting businesses that consistently increase payouts while creating shareholder value.
Higher scores identify companies that have historically delivered dependable income alongside sustained dividend growth and long-term capital appreciation.
Company Overview
Planet 13 Holdings Inc. is a vertically integrated cannabis company focused on the retail sale, cultivation, and production of cannabis products in regulated U.S. markets. The company operates within the cannabis retail, cultivation, and manufacturing segments, with a strategic emphasis on experiential retail formats designed to attract both local consumers and tourists. Its primary revenue drivers are adult-use cannabis retail sales, supported by in-house branded products and wholesale distribution.
The company is best known for operating some of the world’s largest cannabis dispensaries under the Planet 13 brand, positioning itself as a destination-style retailer that combines scale, product variety, and immersive customer experiences. Founded in 2013, Planet 13 initially focused on securing strategic real estate and licenses in Las Vegas, Nevada. Following the legalization of adult-use cannabis in Nevada, the company opened its flagship Las Vegas SuperStore in 2018 and subsequently expanded into additional U.S. markets through acquisitions and organic growth.
Business Operations
Planet 13 generates revenue primarily through its Retail, Cultivation, and Production business segments. Retail operations account for the majority of revenue and include large-format dispensaries offering third-party and proprietary cannabis products. Cultivation and production operations support vertical integration by supplying flower, edibles, concentrates, and other cannabis-derived products for both internal retail use and wholesale distribution.
The company operates domestically within the United States and does not conduct plant-touching operations internationally due to regulatory constraints. Planet 13 controls cultivation facilities, production labs, and retail assets, enabling cost control and brand consistency. Key subsidiaries include Planet 13 Las Vegas, LLC and Planet 13 California, Inc., which manage state-level operations. The company has also historically engaged in licensing and consulting arrangements related to cannabis retail development.
Strategic Position & Investments
Planet 13’s strategic direction centers on expanding its destination retail model into high-traffic urban and tourist markets while improving operational efficiency and balance sheet strength. Growth initiatives have included selective acquisitions of distressed or underperforming cannabis assets in strategic markets, with an emphasis on converting them into profitable retail operations under the Planet 13 brand.
Notable acquisitions include Next Green Wave Holdings, Inc., which strengthened the company’s cultivation and production footprint in California. Planet 13 has invested in developing proprietary brands and improving vertical integration to protect margins in competitive markets. While the company has explored emerging cannabis-adjacent opportunities, its primary focus remains core cannabis retail and branded product expansion within existing regulatory frameworks.
Geographic Footprint
Planet 13 is headquartered in Las Vegas, Nevada, and operates primarily in the United States. Its most significant market presence is in Nevada, where it operates its flagship Las Vegas SuperStore and additional retail locations. The company also has an established operational footprint in California, one of the largest cannabis markets globally.
Beyond Nevada and California, Planet 13 has expanded into Illinois through retail operations in the Chicago metropolitan area. While the company has evaluated additional U.S. states for potential entry, its current geographic footprint remains concentrated in select high-value markets where it believes its large-format retail model provides a competitive advantage.
Leadership & Governance
Planet 13 was co-founded by experienced cannabis and real estate entrepreneurs, and its leadership team emphasizes disciplined capital allocation, operational efficiency, and brand-driven retail expansion. The company’s governance framework aligns with public company standards, with oversight provided by a board of directors and executive management team focused on navigating regulatory complexity and market volatility.
Key executives include:
- Larry Scheffler – Co-Chief Executive Officer
- Bob Groesbeck – Co-Chief Executive Officer
- Dennis Logan – Chief Financial Officer
- David Fowlkes – Chief Operating Officer
- Elisa Sandoval – Chief Marketing Officer
The leadership philosophy centers on leveraging experiential retail, vertical integration, and data-driven decision-making to build durable cannabis retail assets in competitive markets.