By Colin Kellaher
Healthcare Realty Trust's board has cut the real-estate investment trust's quarterly dividend by 23%, to 24 cents a share from 31 cents.
Healthcare Realty on Thursday said the move is aimed at mitigating refinancing risk on its near-term bonds, achieving $100 million of annual incremental retained earnings to fund return-on-capital investments in its existing portfolio and maximizing go-forward earnings potential.
The Scottsdale, Ariz., company said the dividend cut reduces its funds-available-for-distribution payout ratio to about 80.
The new quarterly dividend, equal to 96 cents a year, represents an annual yield of about 6.25% based on Thursday's closing price of $15.36, down from 8.07%.
Healthcare Realty said the decreased dividend is payable Aug. 28 to shareholders of record Aug. 14.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
July 31, 2025 16:53 ET (20:53 GMT)
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