Attached files
file | filename |
---|---|
8-K - FORM 8-K - Ventas, Inc. | c05637e8vk.htm |
Exhibit 99.1
Ventas, Inc.
|
111 South Wacker Drive, Suite 4800 | Chicago, Illinois 60606 | (877) 4-VENTAS | www.ventasreit.com | ||||
Contact: | David J. Smith | |||||||
(877) 4-VENTAS |
VENTAS DECLARES REGULAR QUARTERLY DIVIDEND OF $0.535 PER SHARE
CHICAGO, IL (September 2, 2010) Ventas, Inc. (NYSE: VTR) (Ventas or the Company) said today
that its Board of Directors declared a regular quarterly dividend of $0.535 per share, payable in
cash on September 30, 2010 to stockholders of record on September 17, 2010. The dividend is the
third quarterly installment of the Companys 2010 annual dividend.
Ventas, Inc., an S&P 500 company, is a leading healthcare real estate investment trust. Its
diverse portfolio of approximately 600 assets in 44 states (including the District of Columbia) and
two Canadian provinces consists of seniors housing communities, skilled nursing facilities,
hospitals, medical office buildings and other properties. Through its Lillibridge subsidiary,
Ventas provides management, leasing, marketing, facility development and advisory services to
highly rated hospitals and health systems throughout the United States. More information about
Ventas and Lillibridge can be found at www.ventasreit.com and www.lillibridge.com.
This press release includes forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements regarding the Companys or its tenants, operators, managers or
borrowers expected future financial position, results of operations, cash flows, funds from
operations, dividends and dividend plans, financing plans, business strategy, budgets, projected
costs, operating metrics, capital expenditures, competitive positions, acquisitions, investment
opportunities, merger integration, growth opportunities, dispositions, expected lease income,
continued qualification as a real estate investment trust (REIT), plans and objectives of
management for future operations and statements that include words such as anticipate, if,
believe, plan, estimate, expect, intend, may, could, should, will and other
similar expressions are forward-looking statements. Such forward-looking statements are inherently
uncertain, and security holders must recognize that actual results may differ from the Companys
expectations. The Company does not undertake a duty to update such forward-looking statements,
which speak only as of the date on which they are made.
The Companys actual future results and trends may differ materially depending on a variety of
factors discussed in the Companys filings with the Securities and Exchange Commission. These
factors include without limitation: (a) the ability and willingness of the Companys tenants,
operators, borrowers, managers and other third parties to meet and/or perform their obligations
under their respective contractual arrangements with the Company, including, in some cases, their
obligations to indemnify, defend and hold harmless the Company from and against various claims,
litigation and liabilities; (b) the ability of the Companys tenants, operators, borrowers and
managers to maintain the financial strength and liquidity necessary to satisfy their respective
obligations and liabilities to third parties, including without limitation obligations under their
existing credit facilities and other indebtedness; (c) the Companys success in implementing its
business strategy and the Companys ability to identify, underwrite, finance, consummate and
integrate diversifying acquisitions or investments, including those in different asset types and
outside the United States; (d) the nature and extent of future competition; (e) the extent of
future or pending healthcare reform and regulation, including cost containment measures and changes
in reimbursement policies, procedures and rates; (f) increases in the Companys cost of borrowing
as a result of changes in interest rates and other factors; (g) the ability of the Companys
operators and managers, as
-MORE-
Ventas Declares Regular Quarterly Dividend
September 2, 2010
Page 2
September 2, 2010
Page 2
applicable, to deliver high quality services, to attract and retain qualified personnel and to
attract residents and patients; (h) the results of litigation affecting the Company; (i) changes in
general economic conditions and/or economic conditions in the markets in which the Company may,
from time to time, compete, and the effect of those changes on the Companys revenues and its
ability to access the capital markets or other sources of funds; (j) the Companys ability to pay
down, refinance, restructure and/or extend its indebtedness as it becomes due; (k) the Companys
ability and willingness to maintain its qualification as a REIT due to economic, market, legal, tax
or other considerations; (l) final determination of the Companys taxable net income for the year
ended December 31, 2009 and for the year ending December 31, 2010; (m) the ability and willingness
of the Companys tenants to renew their leases with the Company upon expiration of the leases and
the Companys ability to reposition its properties on the same or better terms in the event such
leases expire and are not renewed by the Companys tenants or in the event the Company exercises
its right to replace an existing tenant upon default; (n) risks associated with the Companys
senior living operating portfolio, such as factors causing volatility in the Companys operating
income and earnings generated by its properties, including without limitation national and regional
economic conditions, costs of materials, energy, labor and services, employee benefit costs,
insurance costs and professional and general liability claims, and the timely delivery of accurate
property-level financial results for those properties; (o) the movement of U.S. and Canadian
exchange rates; (p) year-over-year changes in the Consumer Price Index and the effect of those
changes on the rent escalators, including the rent escalator for Master Lease 2 with Kindred, and
the Companys earnings; (q) the Companys ability and the ability of its tenants, operators,
borrowers and managers to obtain and maintain adequate liability and other insurance from reputable
and financially stable providers; (r) the impact of increased operating costs and uninsured
professional liability claims on the liquidity, financial condition and results of operations of
the Companys tenants, operators, borrowers and managers, and the ability of the Companys tenants,
operators, borrowers and managers to accurately estimate the magnitude of those claims; (s) the
ability and willingness of the lenders under the Companys unsecured revolving credit facilities to
fund, in whole or in part, borrowing requests made by the Company from time to time; (t) risks
associated with the Companys recent acquisition of businesses owned and operated by Lillibridge,
including its ability to successfully design, develop and manage MOBs and to retain key personnel;
(u) the ability of the hospitals on or near whose campuses the Companys MOBs are located and their
affiliated health systems to remain competitive and financially viable and to attract physicians
and physician groups; (v) the Companys ability to maintain or expand its relationships with its
existing and future hospital and health system clients; (w) risks associated with the Companys
investments in joint ventures, including its lack of sole decision-making authority and its
reliance on its joint venture partners financial condition; (x) the impact of market or issuer
events on the liquidity or value of the Companys investments in marketable securities; and (y) the
impact of any financial, accounting, legal or regulatory issues that may affect the Company or its
major tenants, operators or managers. Many of these factors are beyond the control of the Company
and its management.
-END-