AdCare Health Systems, Inc. Declares Quarterly Dividend on Series A Cumulative Redeemable Preferred Stock
ATLANTA–AdCare Health Systems, Inc. (NYSE MKT: ADK), (NYSE MKT: ADK.PRA), a self-managed healthcare real estate investment company that invests primarily in real estate purposed for senior living and long-term care, today announced that its Board of Directors has declared a quarterly cash dividend on the Company's 10.875% Series A Cumulative Redeemable Preferred Stock ("Series A Preferred Stock"), accruing from April 1, 2016 through June 30, 2016.
The dividend on the Series A Preferred Stock will be payable on June 30, 2016 to holders of record at the close of business on June 20, 2016. The dividend payment will be $0.68 per share, which is equivalent to an annualized 10.875% per share of the $25.00 per share stated liquidation preference. The Series A Preferred Stock is listed on the NYSE MKT LLC and trades under the symbol "ADK.PRA".
The current yield on the Company's Series A Preferred Stock is 12.4% based on the closing price of $22.00 per share on June 2, 2016.