SAN CLEMENTE, Calif., March 16, 2016 (GLOBE NEWSWIRE) -- CareTrust REIT, Inc. (NASDAQ:CTRE) today announced that its Board of Directors has declared a quarterly cash dividend of $0.17 per share of CareTrust common stock, payable on April 15, 2016 to shareholders of record as of March 31, 2016.
CareTrust’s Chief Financial Officer, Bill Wagner, noted that the $0.17 quarterly dividend represents a 6.3% increase over the prior quarterly dividend, with an annualized payout ratio of approximately 59% of the midpoint of CareTrust’s previously-announced guidance for 2016 funds available for distribution, or FAD. “This increase rewards our loyal shareholders, while maintaining one of the most conservative payout ratios in the peer group,” he said.
Greg Stapley, CareTrust’s Chairman and Chief Executive Officer, added that the company has an active acquisition pipeline, providing ample opportunity to use the retained funds available for distribution to create additional shareholder value. “We continue to believe that our dividend policy strikes a smart balance between conserving capital for growth while providing shareholders with an attractive dividend yield,” he said.
About CareTrustTM
CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust that is engaged in the ownership, acquisition and leasing of seniors housing and healthcare-related properties. With 133 net-leased healthcare properties and three operated seniors housing properties in eighteen states, CareTrust is pursuing opportunities nationwide to acquire additional properties that will be leased to a diverse group of local, regional and national seniors housing operators, healthcare services providers, and other healthcare-related businesses. More information about CareTrust is available at www.caretrustreit.com.
Contact Information
CareTrust REIT, Inc. (949) 542-3130, ir@caretrustreit.com
