On July 13th Omega Healthcare Investors Inc. announced a dividend increase of 1.6%. This will increase their dividend from $0.63 to $0.64. This dividend is payable on August 15th for shareholders of record on August 1st.
It is worth noting that Omega Healthcare Investors increases their dividend every quarter. This is their 20th consecutive quarter with a dividend increase.
I originally opened a position when I bought Omega Healthcare Investors Inc. in June of 2016. At the time I only purchased 16 shares of the company. Then in November of 2016 I added more to my position by adding 17 more shares of the company. Currently to date with reinvested dividends I hold 34.917 shares of OHI.
So with this increase it will add $0.35 to my quarterly dividend and $1.40 to my projected annual dividend income. Not bad considering I didn’t have to do anything to get it.
I have no intentions of selling my Omega Healthcare Investors position anytime soon. They have been paying out dividends for the past 25 years while also growing their dividend for the past 7 years. I know that there are some risk involved but I think that it is a good company with a good management in place. It also gives me some exposure to the healthcare sector while also being a REIT. Given the current environment I have no plans to increase this position but I will continue to hold it. If the stock price does dip below my cost basis I will reconsider adding to this position then.
Do you currently hold any stock in Omega Healthcare Investors? What do you think of this dividend increase? Just let me know in the comments.
As always I look forward to reading all of your comments and questions, until then….. happy investing!
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