CareTrust REIT (CTRE) Raises Quarterly Dividend 11.1% to $0.25; 5.9% Yield

CareTrust REIT (NASDAQ: CTRE) declared a quarterly dividend of $0.25 per share, or $1 annualized. This is an 11.1% increase from the prior dividend of $0.225.

The dividend will be payable on April 15, 2020, to stockholders of record on March 31, 2020, with an ex-dividend date of March 30, 2020.

The annual yield on the dividend is 5.9 percent.

“We are pleased to be returning additional value to shareholders again this year by continuing our pattern of regular dividend increases,” said Greg Stapley, CareTrust’s Chairman and Chief Executive Officer. Mr. Stapley noted that the growth in the company’s dividend is consistent with the company’s asset and earnings growth. In 2019 CareTrust invested a record $341 million in new assets at a blended initial cash yield of approximately 8.8%.

“Notwithstanding the increase, with our growing portfolio our payout ratio will remain among the lowest in our per group, providing capital for continued expansion while representing one of the best-covered dividends in our space,” he added. Management affirmed that the company plans to pay the dividend on or about April 15, 2020.

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

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