New Senior Maintains First Quarter Dividend at $0.26 as Strategic Review Continues
June 01 2018 - 6:30AM
Business Wire
New Senior Investment Group Inc. (“New Senior” or the “Company”)
(NYSE:SNR) announced today that the Company’s Board of Directors
(the “Board”) declared a cash dividend of $0.26 per share for the
quarter ended March 31, 2018. The dividend is payable on June 22,
2018 to shareholders of record on June 11, 2018. An important
factor in the Board’s decision to maintain the first quarter
dividend at this level is the ongoing review of strategic
alternatives.
As previously announced on February 23, 2018, the Board,
together with the Company’s management team and legal and financial
advisors, is exploring a full range of strategic alternatives to
maximize shareholder value. In connection with the strategic
review, the Company has formed a special committee of the Board
(the “Special Committee”) composed entirely of independent and
disinterested directors. The Special Committee is being advised by
independent legal and financial advisors. The Board expects to
announce the outcome of the strategic review, including a change to
the Company’s dividend policy, in the coming months.
ABOUT NEW SENIOR
New Senior Investment Group (NYSE: SNR) is a publicly-traded
real estate investment trust with a diversified portfolio of senior
housing properties located across the United States. As of March
31, 2018, New Senior is one of the largest owners of senior housing
properties, with 133 properties across 37 states. New Senior is
managed by an affiliate of Fortress Investment Group LLC, a global
investment management firm. More information about New Senior can
be found at www.newseniorinv.com.
CAUTIONARY NOTE REGARDING
FORWARD-LOOKING STATEMENTS
Certain information in this press release may constitute
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995, including without
limitation statements regarding the Company’s exploration of
strategic alternatives, the declaration or amount of any future
dividend and expected changes to the Company’s dividend policy.
These statements are not historical facts. They represent
management’s current expectations regarding future events and are
subject to a number of risks and uncertainties, many of which are
beyond our control, that could cause actual results to differ
materially from those described in the forward-looking statements.
These risks and uncertainties include, but are not limited to,
risks and uncertainties relating to the Company’s review of
strategic alternatives and announcement thereof. Accordingly, you
should not place undue reliance on any forward-looking statements
contained herein. For a discussion of these and other risks and
important factors that could affect such forward-looking
statements, see the sections entitled “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and
Results of Operations” in the Company’s most recent annual and
quarterly reports filed with the Securities and Exchange
Commission, which are available on the Company’s website
(www.newseniorinv.com). New risks and uncertainties emerge from
time to time, and it is not possible for New Senior to predict or
assess the impact of every factor that may cause its actual results
to differ materially from those contained in any forward-looking
statements. Forward-looking statements contained herein speak only
as of the date of this press release, and New Senior expressly
disclaims any obligation to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in New Senior's expectations with regard thereto
or change in events, conditions or circumstances on which any
statement is based.
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New Senior Investment Group Inc.David Smith, (212) 515-7783
New Senior Investment (NYSE:SNR)
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