"Now let me discuss guidance for 2009. We are revising our 2009 guidance for FFO Modified, or FFOM excluding impairment charges to be in the range of $0.90 to $0.98 per fully diluted share and unit for 2009. As a reminder, we believe FFOM to be an important supplemental measure of operating performance because it adds back to traditionally defined FFO, the non-cash amortization of non-real estate related intangible assets associated with purchase accounting for the Erdman merger."
Great business model. Poor execution. True lots of firms got caught in the credit crunch but many had a plan. These goofs thought Medicare was going to bail them out. Strangely, it is such a good concept I wouldn't think of selling now. The Marx brothers were pretty funny. Not as funny as those goofballs Gogdell and Spencer but pretty funny.
If they would hire professional managers and go back to performing colonostomys we'd all be rewarded.
"As Jim and Chuck mentioned, we paid a first quarter dividend of $0.225 cents per share and unit with an FFOM of $0.30 per share. Our Board plans to continue to pay quarterly dividends out of cash flow, and we will not borrow to pay dividends. As such the Board will evaluate the dividend on a quarter-by-quarter basis, but we expect to maintain a ratio similar to that of the first quarter."
Based on this, Im expecting a minimum dividend of 0.15 per qtr for the remainder of the year.