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CareTrust REIT Raises Quarterly Dividend to $0.265 per Share
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
dividends
SAN CLEMENTE, Calif., March 15, 2021 (GLOBE NEWSWIRE) -- CareTrust REIT, Inc. (NASDAQ:CTRE) announced today that its Board of Directors has increased its quarterly common stock cash dividend from $0.25 to $0.265 per common share. The current dividend will be payable to common stockholders of record as of the close of business on March 31, 2021. The company confirmed that plans to pay the dividend on or about April 15, 2021.
“We are pleased to be able to raise the dividend in spite of the particularly difficult circumstances of the past year for both real estate and healthcare companies,” said Greg Stapley, CareTrust’s Chairman and Chief Executive Officer. Mr. Stapley noted that the company added $105.2 million in newly-acquired assets at an approximately 8.9% yield in 2020, facilitating the 6.0% annualized increase. “The size of dividend increase is consistent with our longstanding practice of matching dividends to asset and earnings growth, while retaining capital for expansion and keeping our payout ratio in a conservative range,” he added.
About CareTrust REIT™
CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States. More information about CareTrust REIT is available at www.caretrustreit.com.
caretrust reit, inc. is a publicly-traded real estate investment company engaged in the acquisition, ownership and leasing of seniors housing and healthcare-related properties. with 100 net-leased healthcare properties and three operated seniors housing properties in ten states, caretrust is acquiring and financing additional properties nationwide which will be operated by a diverse group of outstanding local, regional and national seniors housing operators, healthcare services providers, and other healthcare-related businesses. in 2014 caretrust was spun out of the ensign group, one of the country's premier post-acute care and seniors housing providers. founded in 1999 by a small group of leaders dedicated to changing the post-acute care industry "one facility at a time," ensign has written an impressive growth story during a period of change, headwinds, and uncertainty. caretrust carries this excellence-focused, operator-centric mentality in its dna, and seeks now to partner with ot
