NASHVILLE, Tenn., Nov. 15, 2018 /PRNewswire/ -- MedEquities
Realty Trust, Inc. (NYSE: MRT) announced that the Company's Board
of Directors addressed the Company's dividend policy for the third
quarter of 2018 and beyond.
The transition agreements are now in place for Creative
Solutions in Healthcare ("Creative Solutions") to take over the
operations of the Texas Ten Portfolio effective January 1, 2019, subject to regulatory approval.
The Board expects to declare in mid-January a quarterly cash
dividend of $0.21 per share, which is
expected to be the regular dividend amount declared for each
quarter of 2019; however, all
future dividends remain subject to the Board's discretion.
The Board will not declare and pay a dividend for the third quarter
of 2018.
John McRoberts, Chairman and CEO
of MedEquities Realty Trust, noted, "The only contingency we are
expecting for the transition in the Texas Ten Portfolio to become
effective is the typical regulatory approval of the transfer of
operations to Creative Solutions. While that approval is beyond our
control, we are highly confident that approval will occur on or
about January 1, 2019 and provide the
clarity the Board has required to forecast our next dividend."
About MedEquities Realty Trust
MedEquities Realty
Trust (NYSE: MRT) is a self-managed and self-administered real
estate investment trust that invests in a diversified mix of
healthcare properties and healthcare-related real estate debt
investments. The Company's management team has extensive industry
experience in acquiring, owning, developing, financing, operating,
leasing and monetizing many types of healthcare properties and
portfolios. MedEquities' strategy is to become an integral capital
partner with high-quality and growth-oriented facility-based
providers of healthcare services on a nationwide basis, primarily
through net-leased real estate investment. For more information,
please visit www.medequities.com.
Forward-Looking Statements
This press release
contains forward-looking statements within the meaning of the U.S.
federal securities laws. Forward-looking statements provide our
current expectations or forecasts of future events and are not
statements of historical fact. These forward-looking statements
include information about the timing and amount of any future
dividends, the Company's ability to close under the new lease to
Creative Solutions for the Texas Ten Portfolio under the terms
described herein and to transition operations on the time schedule
expected and other matters. Words such as "anticipates," "expects,"
"intends," "plans," "believes," "seeks," "estimates," "will" and
variations of these words and other similar expressions are
intended to identify forward-looking statements. These statements
are not guarantees of future performance and are subject to risks,
uncertainties and other factors, some of which are beyond our
control, are difficult to predict and/or could cause actual results
to differ materially from those expressed or forecasted in the
forward-looking statements. Forward-looking statements involve
inherent uncertainty and may ultimately prove to be incorrect or
false. For a description of factors that may cause the Company's
actual results or performance to differ from its forward-looking
statements, see the sections entitled "Management's Discussion and
Analysis of Financial Condition and Results of Operations" and
"Risk Factors" included in the Company's most recent Annual Report
on Form 10-K filed with the Securities and Exchange Commission (the
"SEC"), and other documents filed by the Company with the SEC from
time to time. You are cautioned to not place undue reliance on
forward-looking statements. Except as otherwise may be required by
law, we undertake no obligation to update or revise forward-looking
statements to reflect changed assumptions, the occurrence of
unanticipated events or actual operating results.
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SOURCE MedEquities Realty Trust, Inc.