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Walgreens' financial issues led the company to take additional action to shore up its cash flow and balance sheet in 2024 by slashing its dividend. The move will save the company $800 million annually, which it can use to fund growth capitalinvestments and repay debt. Is 3M in a similar predicament?
billion in capitalinvestment expected to be completed this year. We have considerable amount of growth capital underway. 2023 marked our 25th anniversary as a publiccompany. Capitalinvestments for the year of 2023 were $3.3 We begin '24 with -- we began '24 with 6.8 It has been for the U.S.
Meade -- General Counsel and Chief Legal Officer Good morning, everyone. Nonoperating results for the quarter included $108 million of net investment gains, driven primarily by gains linked to a minority investment and unhedged seed capitalinvestments. Kapito, and General Counsel Christopher J. Christopher J.
As a result, we've delivered positive total operational returns each year since becoming a publiccompany 30 years ago, successfully navigating a variety of economic environments. Thus, private capital controls more than 90% of the U.S. we've started to see a more attractive transaction landscape. That's benefit number two.
For example, 2023 saw strong rollouts for adult-use sales in Missouri and Maryland and Ohio legalized adult-use in November. We have relationships with some of the largest and most experienced operators in the industry, with our leased operating portfolio comprised of 90% multistate operators and 62% leased to publiccompany tenants.
David Weinberg -- Chief Financial Officer Good afternoon, and thank you for joining us today for our first quarter 2024 conference call, which marks our 100th as a publiccompany. Capital expenditures for the quarter were $57.1 million related to investments in new store openings and direct-to-consumer technologies, $15.6
And as the Canadian cannabis market continues to mature and consolidate, we expect excess capacity within the industry to present Canopy with tangible opportunities to accelerate speed to market, avoid capitalinvestments until critical sales volumes are achieved, and to provide us with surge capacity during peak periods.
Ohio, which legalized adult use in November, is expected to commence sales this year and earlier than originally anticipated perhaps in June. With total illicit and legal demand estimated in excess of $5 billion, New York's regulated sales in 2023 came in at well below $1 billion for the year. What's an update on there?
Specific about your question in the monetization side, we are seeing some encouraging early results in certain verticals, including legal, education, and B2B services. We see strong adoption across sectors, including online education, social media, restaurant and food services, healthcare, legal consultation, and recruiting.
federal legalization. In Germany, our medical cannabis revenue surged by 47% from the first to second quarter, demonstrating the rapidly rising demand in Germany's medical market since legalization and Canopy's positioning as one of the long-term players within that market. In Poland, our revenues grew 200% year over year.
We have engaged local counsel and other advisors in these situations, commenced legal proceedings for damages and possession and are in discussions with applicable regulatory agencies. Maryland's adult-use cannabis program saw first legal sales on July 1, including over $10 million in sales in the first weekend alone.
multistage jackpot activity in the prior year; second, the jackpot related impact on LMA incentives; and third, additional investments we are making in the business, including personnel and project costs, supporting contract renewals and extensions activity. As expected, product sales margin was $26 million lower, driven the volume and mix.
At GE Aerospace, we've completed the functional leadership team, naming our heads of corporate affairs, human resources, legal and treasury with experienced leaders from inside and outside GE. At GE Vernova, we added seasoned publiccompany CFO, Ken Parks. As I mentioned a moment ago, Vic Abate is now CEO of the wind business.
Looking at state voting results, four states had cannabis legalization matters on their ballots in the election cycle, including adult-use programs for Florida, South Dakota, and North Dakota and medical use for Nebraska. With our leased operating portfolio comprised of 91% multi-state operators, and 62% leased to publiccompany tenants.
Ohio, which legalized adult-use in November began issuing operational licenses for adult-use cannabis cultivation last month. In Florida, we continue to monitor support levels for Amendment three, which is expected to appear on the November ballot to legalize adult-use cannabis. And with that, I'll turn it over to David.
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