CareTrust REIT Announces Quarterly Dividend of $0.25 per Share

Rhea-AI Summary

CareTrust REIT (NASDAQ:CTRE) declared a quarterly cash dividend of $0.25 per common share, equating to a 71% payout ratio based on 2020 Q1 Funds Available for Distribution. CEO Greg Stapley noted a strong cash rent collection rate of 99.5% for June and the second quarter, indicating the security of the increased dividend. The dividend will be paid on July 15, 2020 to stockholders of record by June 30, 2020.

Positive

• Quarterly cash dividend of $0.25 declared for shareholders.
• Payout ratio at a solid 71% based on Q1 Funds Available for Distribution.
• Strong cash rent collection at 99.5% for June and Q2, enhancing dividend security.

Negative

• None.

SAN CLEMENTE, Calif., June 16, 2020 (GLOBE NEWSWIRE) -- CareTrust REIT, Inc. (NASDAQ:CTRE) announced today that its Board of Directors has declared a quarterly common stock cash dividend of $0.25 per common share. 

“This equates to a payout ratio of approximately 71% on 2020 first quarter’s Funds Available for Distribution,” said Greg Stapley, CareTrust’s Chairman and Chief Executive Officer. “Further, with contractual cash rents collected coming in at 99.5% for June and 99.5% for the second quarter, our recently-increased dividend remains safe and sound,” he added.

The quarterly dividend will be paid on July 15, 2020, to common stockholders of record as of the close of business on June 30, 2020.

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 dividend amount for CareTrust REIT (CTRE) announced in June 2020?

CareTrust REIT announced a quarterly cash dividend of $0.25 per common share.

When is the dividend for CTRE payable?

The dividend will be paid on July 15, 2020.

What is the payout ratio for CTRE's dividend in Q1 2020?

The payout ratio is approximately 71% based on the first quarter's Funds Available for Distribution.

What was the cash rent collection rate for CTRE in June 2020?

The cash rent collection rate was 99.5% for June 2020.