AdCare Health Systems Announces Quarterly Dividend On Series A Cumulative Redeemable Preferred Stock

AdCare Health Systems, Inc. (NYSE MKT: ADK), a self-managed healthcare real estate investment firm, which invests primarily in real estate purposed for senior living and long-term care, revealed Friday that its Board declared a quarterly cash dividend. According to the company, the board gave approval for dividend on its 10.875% Series A Cumulative Redeemable Preferred Stock, accruing from April 1, 2016 through June 30, 2016.

AdCare Health Systems said the current yield on Series A Preferred stock was 12.4 percent based on the closing price of June 2 at $22.00 a share.

The company stated the dividend on the Series A Preferred Stock would be payable on June 30, 2016 to holders of record at the close of business on June 20, 2016. The company added that the dividend payment would be $0.68 per share, which is equivalent to an annualized 10.875% per share of the $25.00 per share stated liquidation preference.

On Friday, the stock traded 1.38 percent higher.

See more from Benzinga

• Infinera Offers A Healthy Structural Sales Growth, Margin Expansion Story

• Nexstar Broadcasting Strikes Definitive Deal To Divest 2 Stations In 2 Markets For 0 Million

• Pacific Premier Bancorp Names Ronald Nicolas SVP And CFO

© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.