On January 16th, Omega Healthcare Investors, Inc.. announced a dividend increase of 1.5%. This will increase their dividend from $0.65 to $0.66. It is payable on February 15th for shareholders of record on January 31st.
This will mark the 22nd consecutive quarterly dividend increase. With this increase the company currently supports a dividend yield of 9.95%
The company currently has a share price around its 52 week lows. They have been dealing with some internal issues for awhile now which has helped depress the stock price. The current dividend is definitely sustainable but a lot of investors are worried about the future of the company.
This happens to be one of my bigger positions but they make small increases every quarter. I look at it slightly different than I would a company that makes a bigger increase annually. I have not done the research but I feel like this helps compound the growth of my position in this company. With this increase it will add an additional $0.37 to my quarterly dividend and will add $1.46 to my projected annual dividend income. While this is not a large increase to my PADI it does help add to my goal of reaching $1,000 in dividend income.
At the current time, Omega Healthcare Investors, Inc. is priced at $26.11 and my cost basis is $31.11. This is very intriguing to me and I have been doing some more research into the company. i would definitely consider adding more to my position. I guess we will have to wait and see what I decide 🙂
Do you currently hold any stock in Omega Healthcare Investors, Inc.? 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!
-Jason from MoreDividends.com
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