MedEquities Realty Trust Board Outlines Dividend Policy
NASHVILLE, Tenn., Nov. 15, 2018 /PRNewswire/ -- MedEquities Realty Trust, Inc. (NYSE: MRT) announced that the Company's Board of Directors addressed the Company's dividend policy for the third quarter of 2018 and beyond.
The transition agreements are now in place for Creative Solutions in Healthcare ("Creative Solutions") to take over the operations of the Texas Ten Portfolio effective January 1, 2019, subject to regulatory approval. The Board expects to declare in mid-January a quarterly cash dividend of $0.21 per share, which is expected to be the regular dividend amount declared for each quarter of 2019; however, all future dividends remain subject to the Board's discretion. The Board will not declare and pay a dividend for the third quarter of 2018.
John McRoberts, Chairman and CEO of MedEquities Realty Trust, noted, "The only contingency we are expecting for the transition in the Texas Ten Portfolio to become effective is the typical regulatory approval of the transfer of operations to Creative Solutions. While that approval is beyond our control, we are highly confident that approval will occur on or about January 1, 2019 and provide the clarity the Board has required to forecast our next dividend."
About MedEquities Realty Trust
MedEquities Realty Trust (NYSE: MRT) is a self-managed and self-administered real estate investment trust that invests in a diversified mix of healthcare properties and healthcare-related real estate debt investments. The Company's management team has extensive industry experience in acquiring, owning, developing, financing, operating, leasing and monetizing many types of healthcare properties and portfolios. MedEquities' strategy is to become an integral capital partner with high-quality and growth-oriented facility-based providers of healthcare services on a nationwide basis, primarily through net-leased real estate investment. For more information, please visit www.medequities.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. federal securities laws. Forward-looking statements provide our current expectations or forecasts of future events and are not statements of historical fact. These forward-looking statements include information about the timing and amount of any future dividends, the Company's ability to close under the new lease to Creative Solutions for the Texas Ten Portfolio under the terms described herein and to transition operations on the time schedule expected and other matters. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "will" and variations of these words and other similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control, are difficult to predict and/or could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. Forward-looking statements involve inherent uncertainty and may ultimately prove to be incorrect or false. For a description of factors that may cause the Company's actual results or performance to differ from its forward-looking statements, see the sections entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" included in the Company's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC"), and other documents filed by the Company with the SEC from time to time. You are cautioned to not place undue reliance on forward-looking statements. Except as otherwise may be required by law, we undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or actual operating results.
SOURCE MedEquities Realty Trust, Inc.
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