MURFREESBORO, Tenn. - National HealthCare Corporation (NYSE American: NHC), a prominent long-term health care company, has declared a quarterly dividend increase of 3.4%, amounting to 61 cents per common share. The dividend is scheduled for shareholders of record as of June 28, 2024, with payment due on August 1, 2024.
The company, recognized as the nation's oldest publicly traded long-term health care organization, operates a variety of facilities and services. These include 65 skilled nursing facilities with 8,421 beds, 24 assisted living communities, five independent living communities, three behavioral health hospitals, and numerous homecare and hospice agencies. NHC also offers Alzheimer's and memory care services, pharmacy services, rehabilitation, and management and accounting services to third-party post-acute operators.
The dividend increase represents a continuation of NHC's commitment to providing value to its shareholders and is reflective of the company's financial stability and consistent performance in the healthcare sector. This announcement is particularly noteworthy for investors seeking steady income streams from their equity investments in the healthcare industry.
While the company's press release includes forward-looking statements, it also cautions investors about potential risks and uncertainties that could affect future performance. These risks are detailed in the company's filings with the Securities and Exchange Commission (SEC), which include, but are not limited to, patient care liabilities, economic conditions, regulatory changes, and payment levels and methodologies for Medicare and Medicaid.
InvestingPro Insights
National HealthCare Corporation's (NYSE American: NHC) recent dividend increase is underpinned by solid financial metrics that reflect the company's stability and potential for continued growth. An InvestingPro Data point reveals a P/E Ratio (Adjusted) of 28.38 for the last twelve months as of Q4 2023, which is complemented by a PEG Ratio of just 0.11, indicating that the stock may be trading at a low price relative to near-term earnings growth. Moreover, the Price / Book ratio stands at 1.57, suggesting a reasonable valuation compared to the company's book value.
Investors looking for a reliable income stream may find assurance in NHC's track record, as highlighted by two InvestingPro Tips: the company has raised its dividend for 10 consecutive years and has maintained dividend payments for 21 consecutive years. This consistency is a strong indicator of NHC's commitment to shareholder returns. Additionally, with a Dividend Yield of 2.51% as of the date of the last dividend, NHC presents an attractive option for income-focused portfolios.
For those seeking more in-depth analysis, there are additional InvestingPro Tips available on NHC, including insights on cash flow adequacy and stock price volatility. To explore these further, visit Investing.com/pro/NHC and remember to use the promo code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With these tools at hand, investors can make more informed decisions about the potential of NHC as a long-term investment.
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