Yahoo Finance Welltower Board of Directors Approves 10% Increase in Quarterly Dividend to 67c per Share
TOLEDO, Ohio, June 3, 2024 /PRNewswire/ -- Welltower Inc. (NYSE: WELL) ("Welltower" or the "Company") announced today that it expects to increase its quarterly common stock dividend to $0.67 per share, beginning with the second quarter of 2024. The declaration and payment of any future dividend remains subject to further review and approval by the Board.
"We are pleased to report that our Board of Directors has approved the change in our dividend, reflecting the first increase since 2017. The approved plan for a 10% increase is indicative of Welltower's solid financial performance, low payout ratio owing to the outsized levels of cash flow growth we have achieved, and the Board's confidence in the Company's strong growth prospects going forward," stated Shankh Mitra, Welltower's Chief Executive Officer. He added, "While the strong secular tailwinds in seniors housing continue to propel our cash flow per share higher, we are also experiencing a once-in-a-generation capital deployment opportunity. We believe our investment pipeline remains robust, visible, and actionable, with an expanding opportunity set across all of our regions and up and down the capital stack. In fact, this morning we announced that we have closed or are under contract to close nearly $4.0 billion of investments year-to-date, which compares to approximately $5.0 billion of investment activity in 2023. We have also made significant strides to strengthen our balance sheet, which has never been as strongly positioned as it is today, and expect to maintain significant liquidity and financial flexibility in the future."
Forward-Looking Statement
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. When Welltower uses words such as "plan," "expect," "believe" or similar expressions that do not relate solely to historical matters, Welltower is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause Welltower's actual results to differ materially from Welltower's expectations discussed in the forward-looking statements. This may be a result of various factors, including, but not limited to, those factors discussed in Welltower's reports filed from time to time with the Securities and Exchange Commission. Welltower undertakes no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events or otherwise, or to update the reasons why actual results could differ from those projected in any forward-looking statements.
About Welltower
Welltower Inc. (NYSE:WELL), a real estate investment trust ("REIT") and S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. Welltower invests with leading seniors housing operators, post-acute providers and health systems to fund the real estate infrastructure needed to scale innovative care delivery models and improve people's wellness and overall health care experience. Welltower owns interests in properties concentrated in major, high-growth markets in the United States, Canada and the United Kingdom, consisting of seniors housing and post-acute communities and outpatient medical properties. More information is available at www.welltower.com.
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SOURCE Welltower Inc.
