Diversified Healthcare Trust Announces Quarterly Dividend on Common Shares

Rhea-AI Summary

Diversified Healthcare Trust (Nasdaq: DHC) announced a quarterly cash dividend of $0.01 per common share, equating to $0.04 annually. This dividend will be paid on February 18, 2021 to shareholders on record as of January 25, 2021. DHC's portfolio includes $8.2 billion in real estate across 407 properties in 37 states, primarily focused on healthcare, encompassing medical offices and senior living units. The company's board considers various factors when setting dividends, and future rates may be adjusted based on performance and cash availability.

Positive

• Announced quarterly cash dividend of $0.01 per share, demonstrating ongoing income for shareholders.
• Portfolio valued at $8.2 billion with 407 properties, indicating robust asset base.

Negative

• Future dividend rates are not guaranteed and may fluctuate based on DHC's financial performance and board decisions.
• Dependence on various factors including cash availability and obligations raises potential risks for sustaining dividends.

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 January 25, 2021 and distributed on or about February 18, 2021.

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, and by property type and location. As of September 30, 2020, DHC’s $8.2 billion portfolio included 407 properties in 37 states and Washington, D.C., occupied by more than 600 tenants, and totaling approximately 11.6 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.

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FAQ

What is the dividend amount for DHC in 2021?

DHC's announced dividend for 2021 is $0.01 per common share, totaling $0.04 annually.

When will DHC's dividend be paid?

The dividend will be paid on February 18, 2021, to shareholders of record as of January 25, 2021.

How often does DHC pay dividends?

DHC pays dividends quarterly, with the current rate set at $0.01 per share.

Is DHC's dividend sustainable?

DHC's dividend sustainability depends on various financial performance factors, and future rates may change.