Everything is peachy in the world of Care Trust (NASDAQ:CTRE) according to CEO Greg Stapley. As if there was no coronacrisis, the Company moves forward, seems like stronger than before.
In the latest announcement issued by CareTrust, Board of Directors has declared a quarterly common stock cash dividend of $0.25 per common share.
“This equates to a payout ratio of approximately 71% on 2020 first quarter’s Funds Available for Distribution,” said Greg Stapley, CareTrust’s Chairman and CEO. “Further, with contractual cash rents collected coming in at 99.5% for June and 99.5% for the second quarter, our recently-increased dividend remains safe and sound,” he added.
The quarterly dividend will be paid on July 15, 2020, to common stockholders of record as of the close of business on June 30, 2020.
Caretrust REIT Inc (NASDAQ: CTRE) stock price is down only $1 year-to-date but I expect this loss to be erased soon and the share will probably go back to its ore-crisis levels.