How Welltower Rewarded Stockholders in 2Q17


Aug. 2 2017, Published 8:57 a.m. ET

Dividend payouts

Welltower (HCN) has regularly rewarded its shareholders with quarterly dividends and share buybacks.

On June 30, 2017, Welltower announced a quarterly cash dividend of $0.87. The dividend is scheduled to be paid on August 21, 2017. The dividend is higher than $0.86 paid in the same month a year ago.

The dividend for August 21, 2017, represents the 185th consecutive quarterly dividend payment. Welltower hiked its dividend in January 2016 by 4.2% to $0.86 from $0.825.

The company’s dividend yield was 4.85% and 5.14% in 2015 and 2016, respectively. It expects to maintain a dividend yield of 4.75% in 2017, 4.85% in 2018, and 5.12% in 2019.

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FFO payout ratio

The FFO (funds from operations) payout ratio, or the amount of FFO that a company gives out to shareholders as dividends, is an important measure of a shareholder’s return for a stock.

HCN’s FFO payout ratio was 82.1% in 2Q17. Its expected payout ratios for 3Q17, 4Q17, 1Q18, and 2Q18 are 82.1%, 82.1%, 80.1%, and 79.1%, respectively.

Peer group

Welltower currently offers a next-12-month dividend yield of 4.7%, which is in line with its close competitors. HCP (HCP), Healthcare Trust of America (HTA), and Ventas (VTR) offer dividend yields of 4.7%, 4.0%, and 4.6%, respectively.


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