CareTrust REIT (CTRE) Raises Quarterly Dividend 9.8% to $0.225; 3.8% Yield

CareTrust REIT (NASDAQ: CTRE) declared a quarterly dividend of $0.225 per share, or $0.9 annualized. This is a 9.8% increase from the prior dividend of $0.205.

The dividend will be payable on April 15, 2019, to stockholders of record on March 29, 2019, with an ex-dividend date of March 28, 2019.

The annual yield on the dividend is 3.8 percent.

“We are pleased to be returning additional value to shareholders again this year by continuing our pattern of solid annual dividend increases,” said Greg Stapley, CareTrust’s Chairman and Chief Executive Officer. Mr. Stapley noted that although the dividend increased substantially, its growth is consistent with the expansion of the company’s asset base and earnings growth. “At this level, our historical payout ratio in the low-to-mid 60% range is projected to remain intact, leaving us capital for additional expansion while representing one of the best-covered dividends in our space,” he added.

For a dividend history and other dividend-related data on CareTrust REIT (CTRE) click here.

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