BETHESDA, Md.--(BUSINESS WIRE)--Global Medical REIT Inc. (NYSE: GMRE) (the “Company” or “GMRE”), a net-lease medical office real estate investment trust (REIT) that acquires purpose-built healthcare facilities and leases those properties to strong healthcare systems and groups with leading market share, announced today that its Board of Directors (“Board”) has authorized its 2019 second quarter common and preferred dividends.
The Board has declared its 2019 second quarter cash dividend of $0.20 per common share, which will be paid July 11, 2019 to common stockholders of record as of June 26, 2019. The common dividend represents an annualized rate of $0.80 per common share and a dividend yield of approximately 7.41% based on the Company’s closing stock price of $10.79 on June 13, 2019.
Series A Preferred Dividend
The Board has also authorized a quarterly cash dividend of $0.46875 per share on its Series A Cumulative Redeemable Preferred Stock, $0.001 par value per share (the “Series A Preferred Stock”), which will be paid on July 31, 2019, to Series A Preferred stockholders of record as of July 15, 2019. This represents the Company’s quarterly dividend on its Series A Preferred Stock for the period from April 30, 2019 through July 30, 2019.
About Global Medical REIT, Inc.
Global Medical REIT is a net-lease medical office real estate investment trust (REIT) that acquires purpose-built specialized healthcare facilities and leases those facilities to strong healthcare systems and physician groups with leading market share. The Company’s real estate portfolio is comprised of 91 purpose-built healthcare buildings, which are primarily leased on a triple-net basis and contains 2.3 million net leasable square feet. These assets are concentrated in secondary and tertiary markets across the United States. The Company’s management team has significant healthcare, real estate and REIT experience and has long-established relationships with a wide range of healthcare providers. The Company elected to be taxed as a REIT for U.S. federal income tax purposes commencing with its taxable year ending December 31, 2016. Additional information on GMRE can be obtained on its website at www.globalmedicalreit.com.