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Welltower (NYSE: WELL) plans 15% dividend increase to $0.85 per share

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Welltower Inc. used this filing to share that it expects to raise its quarterly common stock dividend to $0.85 per share beginning with the second quarter of 2026. The company describes this as a roughly mid-teens percentage increase, following low double-digit dividend increases in each of the past two years.

Management links the larger dividend to a low payout ratio and strong cash flow per share growth, as well as confidence in future growth supported by what it calls extraordinary balance sheet strength. The CEO highlights approximately $11 billion of net investment activity in 2025 and $10.5 billion of closed or announced investment activity through the first four months of 2026, alongside expectations for attractive unlevered returns on acquisitions. The company also emphasizes its technology-enabled operating platform and significant free cash flow, while noting that any future dividend remains subject to further review and approval by the Board.

Positive

  • Mid-teens dividend increase: The Board has approved raising the quarterly common stock dividend to $0.85 per share, described as a 15% increase, supported by a low payout ratio and strong cash flow per share growth.
  • Large recent investment activity: Management reports approximately $11 billion of net investment activity in 2025 and $10.5 billion of closed or announced investment activity in the first four months of 2026, with expected unlevered returns at least comparable to prior years.

Negative

  • None.

Insights

Welltower signals confidence with a mid-teens dividend increase tied to cash flow strength.

Welltower expects to raise its quarterly dividend to $0.85 per share starting in the second quarter of 2026, described as a 15% increase. For income-focused investors, a double-digit dividend step-up usually indicates management’s comfort with recurring cash generation.

The CEO attributes this move to a low dividend payout ratio and strong cash flow per share growth, plus what he calls extraordinary balance sheet strength. He also cites approximately $11 billion of net investment in 2025 and $10.5 billion of closed or announced deals in the first four months of 2026, with expected unlevered returns comparable to or slightly higher than prior years.

The filing notes that future dividends remain subject to Board review and approval, so the increase is not guaranteed beyond stated expectations. Future filings and press releases will show whether the Board continues to authorize the higher dividend level and whether acquisition returns and cash flow trends align with these statements.

Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Planned quarterly dividend $0.85 per share Expected starting Q2 2026
Dividend increase magnitude 15% increase Described as mid-teens percentage increase
Net investment activity 2025 $11 billion Approximate net investment activity in 2025
Investment activity early 2026 $10.5 billion Closed or announced investment activity through first four months of 2026
Regulation FD regulatory
"we intend to use our website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD"
Regulation FD is a rule that prevents company insiders, like executives, from sharing important information with some people before others get it. It matters because it helps ensure all investors have equal access to key news, making the stock market fairer and reducing chances of insider trading.
forward-looking statements regulatory
"This document contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995."
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
unlevered returns financial
"we expect unlevered returns on acquisitions that are comparable to, if not slightly higher than, returns achieved on acquisitions made in prior years."
Unlevered returns are the profit or loss an investment produces when measured without using borrowed money, showing how the asset itself performs on a standalone basis. For investors, this is useful like checking a car’s fuel efficiency without adding extra cargo: it reveals the underlying strength and risk of the asset before financing choices (loans, margin) boost or magnify outcomes.
REIT financial
"Welltower’s ability to maintain its qualification as a REIT"
A real estate investment trust (REIT) is a company that owns, operates, or finances income-producing real estate, like shopping centers, apartments, or office buildings. For investors, REITs offer a way to invest in real estate without having to buy property directly, often providing regular income through dividends. They function like a mutual fund for real estate, making it easier for people to add property investments to their portfolio.
Welltower Business System technical
"the digital transformation of our portfolio through the Welltower Business System, our end-to-end operating and technology platform"
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Understanding 8-K Material Events →
false 0000766704 0000766704 2026-06-01 2026-06-01 0000766704 us-gaap:CommonStockMember 2026-06-01 2026-06-01 0000766704 well:GuaranteeOf4.800NotesDue2028IssuedByWelltowerOpLlcMember 2026-06-01 2026-06-01 0000766704 well:GuaranteeOf4.500NotesDue2034IssuedByWelltowerOpLlcMember 2026-06-01 2026-06-01
 
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 1, 2026

 

 

Welltower Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware

   1-8923   34-1096634
(State or other jurisdiction
of incorporation)		   (Commission
File Number)		   (IRS Employer
Identification No.)

 

4500 Dorr Street, Toledo, Ohio
   43615
(Address of principal executive offices)   (Zip Code)

Registrants’ telephone number, including area code: (419) 247-2800

Not Applicable

(Former name or former address, if changed since last report.)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

  

Trading
Symbol(s)

  

Name of each exchange
on which registered

Common stock, $1.00 par value per share   WELL   New York Stock Exchange
Guarantee of 4.800% Notes due 2028 issued by Welltower OP LLC   WELL/28   New York Stock Exchange
Guarantee of 4.500% Notes due 2034 issued by Welltower OP LLC   WELL/34   New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 
 

Item 7.01 Regulation FD Disclosure.

On June 1, 2026, Welltower Inc. issued a press release announcing its expectation to raise its quarterly common stock dividend to $0.85 per share, beginning with the second quarter of 2026. A copy of such press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K (the “Report”).

The information in Item 7.01 of this Report (including Exhibit 99.1 attached hereto) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly provided by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

 

Exhibit
No.		   

Description of Exhibit

99.1    Press Release, dated June 1, 2026
104    Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

        WELLTOWER INC.
Date: June 1, 2026     By:  

/s/ MATTHEW MCQUEEN

        Name:   Matthew McQueen
        Title:   Chief Legal Officer – General Counsel & Corporate Secretary

Exhibit 99.1

Welltower Board of Directors Approves 15% Increase in Quarterly Dividend to $0.85 per Share

TOLEDO, Ohio, June 1, 2026 /PRNewswire/ — Welltower Inc. (NYSE: WELL) (“Welltower” or the “Company”) today announced that it expects to raise its quarterly common stock dividend to $0.85 per share, beginning with the second quarter of 2026. The declaration and payment of any future dividend remains subject to further review and approval by the Board.

“Following low double-digit increases to our common stock dividend in each of the past two years, we are pleased to report that the Board has approved a further mid-teens percentage increase to our dividend. This action not only reflects the Company’s low dividend payout ratio, driven by strong cash flow per share growth in recent years, but also the Board’s confidence regarding outsized levels of growth in the coming years supported by extraordinary balance sheet strength,” stated Shankh Mitra, Welltower’s Chief Executive Officer. He continued, “While strong secular tailwinds are expected to propel our business going forward, the Company’s growth is expected to be meaningfully amplified by the digital transformation of our portfolio through the Welltower Business System, our end-to-end operating and technology platform, and an expanding capital deployment opportunity set. In fact, even after completing approximately $11 billion of net investment activity in 2025 and $10.5 billion of closed or announced investment activity through the first four months of 2026, our investment pipeline has never been stronger. While asset prices have bounced off pandemic lows, our ability to drive cash flow growth post-acquisition has meaningfully improved over the past year by leveraging the Welltower Business System and through the joint efforts of our world-class technology talent and core operating partners. As a result, we expect unlevered returns on acquisitions that are comparable to, if not slightly higher than, returns achieved on acquisitions made in prior years. Additionally, we continue to retain significant free cash flow and maintain extraordinarily low balance sheet leverage metrics, providing us with ample capacity and flexibility to support our robust, visible, and actionable organic and inorganic growth opportunities across the US, UK, and Canada.”

About Welltower Welltower Inc. (NYSE: WELL), an S&P 500 company, is positioned at the center of the silver economy, focusing on rental housing for aging seniors across the United States, United Kingdom and Canada. Our portfolio of 2,500+ seniors and wellness housing communities is positioned at the intersection of housing and hospitality, creating vibrant communities for mature renters and older adults. We believe our real estate portfolio is unmatched, located in highly attractive micromarkets with stunning built environments. Yet, we are an unusual real estate organization as we view ourselves as an operating company in a real estate wrapper, driven by highly-aligned partnerships and an unconventional culture. Through our disciplined approach to capital allocation powered by our Data Science platform and superior operating results driven by the Welltower Business System—our end-to-end operating platform - we aspire to deliver long-term compounding of per share growth for our existing investors, our North Star.

We routinely post important information on our website at www.welltower.com in the “Investors” section, including corporate and investor presentations and financial information. We intend to use our website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Such disclosures will be included on our website under the heading “Investors.” Accordingly, investors should monitor such portion of our website in addition to following our press releases, public conference calls and filings with the Securities and Exchange Commission. The information on our website is not incorporated by reference in this press release and our web address is included as an inactive textual reference only.

Forward-Looking Statements and Risk Factors This document contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. When Welltower uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project” or similar expressions that do not relate solely to historical matters, Welltower is making forward-looking statements. These statements include, among others, future dividend payments. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause Welltower’s actual results to differ materially from Welltower’s expectations discussed in the forward-looking statements. This may be a result of various factors, including, but not limited to: the impact of macroeconomic and geopolitical developments, including economic downturns, elevated inflation and interest rates, political or social conflict, unrest or violence or similar events; the status of the economy; the status of capital markets, including availability and cost of capital; issues facing the healthcare industry, including compliance with, and changes to, regulations and payment policies, responding to government investigations and punitive settlements, public perception of the healthcare industry and operators’/tenants’ difficulty in cost effectively obtaining and maintaining adequate liability and other insurance; changes in financing terms; competition within the healthcare and seniors housing industries; negative developments in the operating results or financial condition of operators/tenants, including, but not limited to, their ability to pay rent and repay loans; Welltower’s ability to transition or sell properties with profitable results; the failure to make new investments or acquisitions as and when anticipated; natural disasters, public health emergencies and extreme weather affecting Welltower’s properties; Welltower’s ability to re-lease space at similar rates as vacancies occur; Welltower’s ability to timely reinvest sale proceeds at similar rates to assets sold; operator/tenant or joint venture partner bankruptcies or insolvencies; the cooperation of joint venture partners; government regulations affecting Medicare and Medicaid reimbursement rates and operational requirements; liability or contract claims by or against operators/tenants; unanticipated difficulties and/or expenditures relating to future investments or acquisitions; environmental laws affecting Welltower’s properties; changes in rules or practices governing Welltower’s financial reporting; the movement of U.S. and foreign currency exchange rates and changes to U.S. and global monetary, fiscal or trade policies; Welltower’s approach to artificial intelligence; Welltower’s ability to maintain its qualification as a REIT; key management personnel recruitment and retention; geopolitical tensions or conflicts, such as the ongoing conflict between Russia and Ukraine and in the Middle East, and other risks described in Welltower’s reports filed from time to time with the SEC. Welltower undertakes no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events or otherwise, or to update the reasons why actual results could differ from those projected in any forward-looking statements.

Source: View Original Filing on SEC EDGAR

FAQ

What dividend change did Welltower (WELL) announce in this 8-K?

Welltower expects to raise its quarterly dividend to $0.85 per share. The company characterizes this as a roughly 15% increase, beginning with the second quarter of 2026, with any future dividends still subject to further review and approval by its Board of Directors.

When will Welltower’s higher $0.85 dividend per share begin?

The higher $0.85 quarterly dividend is expected to begin in Q2 2026. Welltower states that it plans to raise the common stock dividend starting with the second quarter of 2026, while emphasizing that each future dividend remains subject to Board review and approval.

Why does Welltower say it can support a higher dividend?

Welltower cites a low payout ratio and strong cash flow per share growth. The CEO links the mid-teens dividend increase to robust cash generation, extraordinary balance sheet strength, and confidence in outsized growth supported by its operating platform and sizeable investment pipeline across the U.S., U.K., and Canada.

How much investment activity has Welltower reported for 2025 and early 2026?

Welltower reports about $21.5 billion of investment across 2025 and early 2026. The company cites approximately $11 billion of net investment activity in 2025 and $10.5 billion of closed or announced investment activity through the first four months of 2026 in its commentary.

Is Welltower’s increased dividend guaranteed going forward?

No, future dividends remain subject to Board approval. While Welltower currently expects to raise the quarterly dividend to $0.85 per share from the second quarter of 2026, it clearly states that declaration and payment of any future dividend require further review and approval by its Board.

What strategic themes does Welltower highlight alongside the dividend increase?

Welltower emphasizes digital transformation and a strong pipeline. Management points to the Welltower Business System technology platform, significant free cash flow, low leverage, and an expanding capital deployment opportunity set driving expected unlevered returns comparable to or slightly higher than prior acquisitions.

Filing Exhibits & Attachments

5 documents

Press Releases

Other Documents