For the fourth quarter in a row, Omega Healthcare Investors (NYSE:OHI) has elected to raise its dividend slightly. The company declared a payout of $0.47 per share, to be paid on August 15 to stockholders of record as of July 31. That amount is $0.01, or 2%, higher than the previous distribution of $0.46 paid in mid-May. That dividend was also a raise of $0.01 from its predecessor, which, in turn, was higher than the previous quarter's disbursement by the same amount.
In the press release announcing the news, the company said it had roughly 117 million shares outstanding; thus, the current payout will cost it around $55 million.
The modestly raised new dividend annualizes to $1.88 per share. That yields 5.6% at Omega Healthcare Investors' most recent closing stock price of $33.70.
Fool contributor Eric Volkman has no position in Omega Healthcare Investors. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.