ATLANTA, March 3, 2017 /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 a quarterly cash dividend on the Company's 10.875% Series
A Cumulative Redeemable Preferred Stock ("Series A Preferred
Stock"), accruing from January 1,
2017 through March 31,
2017.
The dividend on the Series A Preferred Stock will be payable on
March 31, 2017 to holders of record
at the close of business on March 21,
2017. The dividend payment will be $0.68 per share, which is equivalent to an
annualized 10.875% per share of the $25.00 per share stated liquidation preference.
The Series A Preferred Stock is listed on the NYSE MKT LLC and
trades under the symbol "ADK.PRA".
The current yield on the Company's Series A Preferred Stock is
11.7% based on the closing price of $23.20 per share on March
2, 2017.
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. AdCare currently owns, leases or manages for third
parties 29 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. 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, 2015, and AdCare's subsequently
filed Quarterly Reports on Form 10-Q. 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.