ATLANTA, Sept. 30, 2015 /PRNewswire/ -- AdCare
Health Systems, Inc. (NYSE MKT: ADK) (NYSE MKT: ADK.PRA), a
self-managed healthcare real estate investment company that invests
primarily in real estate purposed for senior living and long-term
healthcare, today announced that its Board of Directors has
declared an increased cash dividend on the Company's common
stock.
On September 29, 2015, the Board
of Directors declared a cash dividend of $0.06 per share of common stock, payable on
October 31, 2015 to shareholders of
record as of October 15, 2015. This
quarterly dividend, if annualized, represents an annual dividend of
$0.24 per share, and an increase of
9.1% compared with the dividend declared on June 30, 2015 and paid on July 31, 2015. Based on the closing share price
on September 29, 2015, a $0.06 per share quarterly dividend, if
annualized, represents an annual dividend yield of 7.3%.
As previously disclosed, based on the company's projected
current and accumulated negative earnings and profits (E&P) tax
position, the company expects cash dividends paid to common
stockholders for 2015 (and until such time that the company may
have positive current or accumulated E&P) should be treated as
a return of capital to stockholders to the extent available for
federal income tax purposes.
About AdCare Health Systems
AdCare Health
Systems, Inc. (NYSE MKT: ADK) (NYSE MKT: ADK.PRA) is a self-managed
healthcare real estate investment company that invests primarily in
real estate purposed for senior living and long-term healthcare
through facility lease and sub-lease transactions. The Company
currently owns, leases or manages for third parties 39 facilities.
For more information about AdCare, visit www.adcarehealth.com.
Important Cautions Regarding Forward-Looking
Statements
Statements contained in this press release that
are not historical facts may be forward-looking statements within
the meaning of federal law. Such statements can be identified by
the use of forward-looking terminology, such as "believes,"
"expects," "plans," "intends," "anticipates" and variations of such
words or similar expressions, but their absence does not mean that
the statement is not forward-looking. Statements in this press
release that are forward-looking include, among other things,
statements regarding annualized dividends. Such forward-looking
statements reflect management's beliefs and assumptions and are
based upon information currently available to management and
involve known and unknown risks, results, performance or
achievements of AdCare, which may differ materially from those
expressed or implied in such statements. Such factors are
identified in the public filings made by AdCare with the Securities
and Exchange Commission, including AdCare's Annual Report on Form
10-K for the year ended December 31,
2014. There is no assurance that such factors or other
factors will not affect the accuracy of such forward-looking
statements. Except where required by law, AdCare undertakes no
obligation to revise or update any forward-looking statements to
reflect events or circumstances after the date of this press
release.
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SOURCE AdCare Health Systems, Inc.