National Health Investors has paid off its debt and will pay an annual dividend for 2001 of 45 cents per common share to shareholders of record as of Dec. 28. The dividend is payable Jan.28, the company says in a prepared statement.
The dividend means the company was able to repay its debt ahead of schedule. As a result, 5% of the company's assets are pledged as collateral on debt.
"Having met the challenge of repaying in full our bank debts, we look forward to rewarding our common shareholders by renewing quarterly dividends," NHI President Andy Adams says in the same statement. "Cash flow remains at approximately $4 million per month. We anticipate announcing a declaration of dividend during the last month of each calendar quarter commencing March, 2002."
National Health Investors, Inc. specializes in the financing of healthcare real estate by first mortgage and by purchase and leaseback transactions. Murfreesboro is 35 miles southeast of Nashville.
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