CareTrust REIT Raises Quarterly Dividend to $0.275 per Share

Rhea-AI Summary

CareTrust REIT (CTRE) has announced an increase in its quarterly cash dividend from $0.265 to $0.275 per common share. The dividend will be payable on or about April 15, 2022 to stockholders of record as of the close of business on March 31, 2022. CEO David Sedgwick emphasized the importance of balancing capital retention with steady dividend increases while maintaining a conservative payout ratio.

Positive

• Increased quarterly dividend from $0.265 to $0.275 per share.
• Demonstrates a commitment to returning value to shareholders.

Negative

• None.

News Market Reaction – CTRE

+2.56%

+2.56% Session move

In the trading session that priced this news, CTRE gained 2.56%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SAN CLEMENTE, Calif., March 15, 2022 (GLOBE NEWSWIRE) -- CareTrust REIT, Inc. (NASDAQ:CTRE) announced today that its Board of Directors has increased its quarterly common stock cash dividend from $0.265 to $0.275 per common share. The current dividend will be payable to common stockholders of record as of the close of business on March 31, 2022 and management affirmed that the company plans to pay the dividend on or about April 15, 2022.

“We are pleased to once again continue our pattern of increasing the dividend,” said David Sedgwick, CareTrust’s Chief Executive Officer. Mr. Sedgwick noted that the increased dividend “strikes a balance of retaining the company’s least expensive source of capital for future deployment with continuing to steadily increase the dividend, while maintaining a conservative payout ratio.”

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.

Contact:
CareTrust REIT, Inc.
(949) 542-3130
ir@caretrustreit.com

FAQ

What is the new dividend amount for CareTrust REIT (CTRE)?

The new dividend amount for CareTrust REIT (CTRE) is $0.275 per common share.

When will CareTrust REIT (CTRE) pay the new dividend?

CareTrust REIT (CTRE) plans to pay the new dividend on or about April 15, 2022.

What is the record date for the dividend payment of CareTrust REIT (CTRE)?

The record date for the dividend payment of CareTrust REIT (CTRE) is March 31, 2022.

How often does CareTrust REIT (CTRE) pay dividends?

CareTrust REIT (CTRE) pays dividends quarterly.