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 REITTM
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
