National Health Investors (NHI) announces dividend reduction.

National Health Investors (NHI) announced today that it has declared a second quarter dividend of $0.90/share, representing an 18% reduction from the prior dividend rate.  The dividend decrease follows NHI's announcement that it has agreed to defer $600,000 of monthly rent from Holiday Retirement for the months of May, June, and July, with the shortfall being made up from a $10.6 million security deposit.  NHI's total cash collections for May 2021 were 87.1% of contractual amounts due, with the remainder reflecting deferral agreements with Holiday, Bickford, and other operators.

CEO Eric Mendelsohn stated: "The NHI Board of Directors is committed to preserving a prudent and conservative capital structure that ensures the Company has sufficient flexibility to manage through the impact of the pandemic...and as a result declared a second quarter dividend of of $0.90 per share."

Established in 1991, National Health Investors, Inc. (NHI) is an equity REIT focusing on the ownership and development of senior housing properties (69% of base rent) and skilled nursing facilities (27%). The current portfolio includes 242 properties in 34 states, with a majority of the company’s investments taking the form of sale-leasebacks with regional multi-facility operators. As of March 31, 2021, NHI had a total market capitalization of approximately $4.8 billion.