AR Global’s Healthcare Trust Changes Common Stock Dividend Policy
The board of Healthcare Trust Inc., a publicly registered non-traded real estate investment trust sponsored by AR Global, has approved a change in the company’s common stock dividend policy.
The board of Healthcare Trust Inc., a publicly registered non-traded real estate investment trust sponsored by AR Global, has approved a change in the company’s common stock dividend policy.
The REIT said that it “will no longer declare dividends based on daily record dates, but instead, any future dividends authorized by the board will be paid on a monthly basis in arrears based on a single record date during the applicable month.”
The company indicated that the change will have no impact on its daily dividend declarations for June 2020, all of which are paid around July 5, 2020.
In other news, Healthcare Trust also announces that it intends to continue to pay dividends on a quarterly basis on its 7.375% Series A Cumulative Redeemable Perpetual Preferred Stock at an annualized rate of $1.84375 per share or $0.4609375 per share on a quarterly basis. The dividend will be paid on July 15, 2020 to stockholders of record at the close of business on July 2, 2020.
Healthcare Trust invests in multi-tenant medical office buildings and owned a portfolio of 193 properties, as of the fourth quarter of 2019. The company’s primary offering was declared effective by the SEC in February 2013 and closed in November 2014 after raising $2.2 billion in investor equity. The company launched its Series A Preferred Stock offering (Nasdaq: HTIA) in December 2019.
