Diversified Healthcare Trust Announces Quarterly Dividend on Common Shares

Rhea-AI Summary

Diversified Healthcare Trust (Nasdaq: DHC) has announced a quarterly cash dividend of $0.01 per common share, amounting to $0.04 per share annually. This dividend will be paid to shareholders of record on October 26, 2020, with distribution expected on or around November 19, 2020. As of June 30, 2020, DHC's portfolio valued at $8.3 billion includes 412 properties across 38 states and Washington, D.C., totaling approximately 12 million square feet of medical office and life science properties.

Positive

• Quarterly dividend of $0.01 per share, indicating a stable income for shareholders.
• Strong portfolio valued at $8.3 billion with diverse healthcare properties.

Negative

• Future dividends are subject to board discretion and may be adjusted downwards based on income and cash availability.

NEWTON, Mass.--(BUSINESS WIRE)--Diversified Healthcare Trust (Nasdaq: DHC) today announced a regular quarterly cash distribution on its common shares of $0.01 per common share ($0.04 per share per year). This quarterly dividend will be paid to common shareholders of record as of the close of business on October 26, 2020 and distributed on or about November 19, 2020.

Diversified Healthcare Trust (Nasdaq: DHC) is a real estate investment trust (REIT) focused on owning high-quality healthcare properties located throughout the United States. DHC seeks diversification across the health services spectrum: by care delivery and practice type, by scientific research disciplines, by property type and location. As of June 30, 2020, DHC’s $8.3 billion portfolio included 412 properties in 38 states and Washington, D.C., occupied by more than 600 tenants, and totaling approximately 12 million square feet of medical office and life science properties and more than 30,000 senior living units. DHC is managed by the operating subsidiary of The RMR Group Inc., an alternative asset management company that is headquartered in Newton, MA. To learn more about DHC, visit www.dhcreit.com.

WARNING REGARDING FORWARD LOOKING STATEMENTS

This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Also, whenever DHC uses words such as “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, “will”, “may” and negatives or derivatives of these or similar expressions, DHC is making forward-looking statements. These forward-looking statements are based upon DHC’s present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by DHC’s forward-looking statements as a result of various factors. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond DHC's control. For example, this press release states that DHC’s dividend rate will be $0.01/share per quarter or $0.04/share per year. A possible implication of this statement is that DHC will continuously pay quarterly dividends of $0.01/share per quarter or $0.04/share per year in the future. DHC’s dividend rates are set and reset from time to time by DHC’s board of trustees. The DHC board considers many factors when setting dividend rates including DHC’s historical and projected income, normalized funds from operations attributable to common shareholders, the then current and expected needs and availability of cash to pay DHC’s obligations and fund DHC’s investments, restrictions contained in DHC’s credit and term loan agreements, distributions which may be required to be paid to maintain DHC’s tax status as a real estate investment trust and other factors deemed relevant by DHC’s board of trustees in its discretion. Accordingly, future dividend rates may be increased or decreased and there is no assurance as to the rate at which future dividends will be declared and paid. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward looking statements in this press release. Except as required by law, DHC does not intend to update or change any forward looking statements as a result of new information, future events or otherwise.

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.