Brookdale Senior Living (BKD) Suspends Qtr. Dividend Indefinitely

December 30, 2008 5:34 PM EST
Brookdale Senior Living Inc. (NYSE: BKD) announced today that its Board of Directors has voted to suspend the Company's quarterly cash dividend indefinitely.

Bill Sheriff, Brookdale's CEO, commented on the dividend decision. "Given the uncertainty in today's economic environment, the Board of Directors has decided to suspend our dividend in order to enhance the Company's financial flexibility and strengthen our balance sheet by decreasing leverage. Brookdale continues to generate solid operating cash flow and, by taking this action, will be better positioned to take advantage of potential attractive investment opportunities as they may arise."

Brookdale Senior Living Inc., together with its subsidiaries, operates senior living communities in the United States.

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