sub - if you are going to invest in divi stocks you need to understand how to read the books. Your funds available for common is the earnings - earnings are what taxes are paid on - NOT the cash available for dividends or other corporate needs. The largest part of the additional funds are the depreciation that is subtracted to give "earnings". Depreciation is not real money going out the door unless you think the value of the underlying properties are losing value as they age which is partially true for other leasing industries like airlines but only partially true. To keep it simple add back In depreciation to get funds available for divi's. In OHI's case - they are going to have no problem paying their divi for the forseeable future and probably will be raising it again.