National Health Investors has paid off its debt and will pay anannual dividend for 2001 of 45 cents per common share toshareholders of record as of Dec. 28. The dividend is payableJan.28, the company says in a prepared statement.
The dividend means the company was able to repay its debt aheadof schedule. As a result, 5% of the company's assets are pledged ascollateral on debt.
"Having met the challenge of repaying in full our bank debts, welook forward to rewarding our common shareholders by renewingquarterly dividends," NHI President Andy Adams says in the samestatement. "Cash flow remains at approximately $4 million permonth. We anticipate announcing a declaration of dividend duringthe last month of each calendar quarter commencing March,2002."
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