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.
Source: CareTrust REIT, Inc.