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 primarily engaged in the cultivation, production, and retail distribution of cannabis products. The company operates within the regulated cannabis industry, with a strategic focus on large-scale experiential retail, branded products, and vertically integrated operations. Its business model emphasizes destination-style cannabis superstores combined with owned cultivation and manufacturing capabilities to support both in-house and wholesale product distribution.
The company’s primary revenue drivers are retail cannabis sales through its flagship superstores and the sale of branded cannabis products produced by its cultivation and production facilities. Planet 13 serves adult-use cannabis consumers and medical cannabis patients, with a particular emphasis on high-traffic tourist markets. Founded in 2013, the company initially focused on Nevada, opening what it has described as one of the world’s largest cannabis dispensaries near the Las Vegas Strip, and subsequently expanded into California and Illinois through organic development and acquisitions.
Business Operations
Planet 13 operates through vertically integrated segments that include Retail Operations, Cultivation, and Production & Manufacturing. Retail operations generate the majority of revenue through direct-to-consumer cannabis sales at company-owned dispensaries. Cultivation and production facilities supply these retail locations and also support wholesale distribution of branded products to third-party dispensaries in certain markets.
The company controls cultivation and production assets in Nevada, California, and Illinois, enabling supply chain control and margin optimization. Key subsidiaries include Planet 13 Las Vegas, Planet 13 Orange County, and Planet 13 Chicago, each operating under state-specific regulatory frameworks. Planet 13 does not currently rely on international operations due to federal cannabis restrictions but maintains compliance with U.S. state-level regulations governing cannabis production and sales.
Strategic Position & Investments
Planet 13’s strategy centers on expanding its experiential retail model in high-traffic urban and tourist markets while increasing operational efficiency in cultivation and manufacturing. Growth initiatives include selective geographic expansion, optimization of existing retail assets, and the development of proprietary cannabis brands. The company has emphasized disciplined capital allocation following periods of industry-wide margin compression.
Notable acquisitions have included Next Green Wave Holdings, Inc., which expanded Planet 13’s cultivation and production footprint in California, and VidaCann’s Illinois retail assets, strengthening its Midwestern presence. The company continues to invest in branded flower, concentrates, and edibles, as well as automation and cost-reduction initiatives within cultivation and production. Emerging focus areas include operational scale efficiencies and balance sheet stabilization rather than speculative technology investments.
Geographic Footprint
Planet 13’s operations are concentrated in the United States, with primary market presence in Nevada, California, and Illinois. The company is headquartered in Las Vegas, Nevada, where it operates its flagship superstore adjacent to the Las Vegas Strip, a key tourist corridor.
Within California, Planet 13 operates retail and cultivation assets in Southern California, including Orange County. In Illinois, the company operates retail locations in the Chicago metropolitan area. While the company has evaluated additional U.S. states, its geographic footprint remains limited to markets where it can achieve scale and regulatory clarity.
Leadership & Governance
Planet 13 was co-founded by entrepreneurs with backgrounds in real estate development and regulated industries, which influenced its large-format retail strategy. The leadership team emphasizes operational discipline, regulatory compliance, and brand-driven retail experiences as core elements of its strategic vision.
Key executives include:
- Larry Scheffler – Co-Chief Executive Officer
- Bob Groesbeck – Co-Chief Executive Officer
- Dennis Logan – Chief Financial Officer
- Scott Kreeger – President
- Wesley Coates – Chief Marketing Officer
The board and executive team collectively focus on navigating regulatory complexity, improving profitability, and selectively expanding the company’s retail footprint while maintaining strong governance practices.