CareTrust REIT (CTRE) Raises Quarterly Dividend 6% to $0.265; 4.4% Yield

CareTrust REIT (NASDAQ: CTRE) declared a quarterly dividend of $0.265 per share, or $1.06 annualized. This is a 6% increase from the prior dividend of $0.25.

The dividend will be payable on April 15, 2021, to stockholders of record on March 31, 2021, with an ex-dividend date of March 30, 2021.

The annual yield on the dividend is 4.4 percent.

“We are pleased to be able to raise the dividend in spite of the particularly difficult circumstances of the past year for both real estate and healthcare companies,” said Greg Stapley, CareTrust’s Chairman and Chief Executive Officer. Mr. Stapley noted that the company added $105.2 million in newly-acquired assets at an approximately 8.9% yield in 2020, facilitating the 6.0% annualized increase. “The size of dividend increase is consistent with our longstanding practice of matching dividends to asset and earnings growth, while retaining capital for expansion and keeping our payout ratio in a conservative range,” he added.

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

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