CareTrust REIT Announces Quarterly Dividend of $0.25 per Share

Rhea-AI Summary

CareTrust REIT (NASDAQ: CTRE) has declared a quarterly cash dividend of $0.25 per share, payable on or about October 15, 2020, to stockholders of record by September 30, 2020. The company increased its annual dividend by approximately 11% in March 2020, demonstrating resilience amidst COVID-19 uncertainties. CareTrust reported a strong cash rent collection rate of 99% for both August and September 2020. Chairman and CEO Greg Stapley assured that the dividend remains secure, emphasizing the company's conservative payout ratio.

Positive

• Quarterly dividend of $0.25 per share enhances shareholder income.
• Annual dividend raised by 11% in March 2020 reflects company confidence.
• 99% cash rent collection rate for August and September highlights strong operational performance.

Negative

• None.

SAN CLEMENTE, Calif., Sept. 15, 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. 

CareTrust raised its annual dividend in March by approximately 11% over 2019, even though other companies and industries were suspending or cutting theirs at the time due to uncertainties arising from the still-evolving COVID-19 pandemic. Greg Stapley, CareTrust’s Chairman and Chief Executive Officer, noted that even with the increase, CareTrust’s payout ratio remains at or near the most conservative levels in the sector. He also reported that contractual cash rent collections for each of August and September had come in at 99%. “We and our tenants are doing well, and our recently-increased dividend remains safe and sound,” he said.

The quarterly dividend will be paid on or about October 15, 2020, to common stockholders of record as of the close of business on September 30, 2020.

About CareTrust REIT^TM

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 declared by CareTrust REIT?

CareTrust REIT has declared a quarterly cash dividend of $0.25 per share.

When will the dividend be paid to shareholders?

The dividend will be paid on or about October 15, 2020.

What is the record date for the dividend payment?

The record date for the dividend payment is September 30, 2020.

How much was the increase in the annual dividend?

The annual dividend was raised by approximately 11% in March 2020.

What was the cash rent collection rate reported by CareTrust REIT?

CareTrust REIT reported a cash rent collection rate of 99% for both August and September 2020.