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ROUNDUP / BARBARA MURPHY

LTC Properties Raises Its Quarterly Dividend

May 13, 1997|BARBARA MURPHY

The board of directors for LTC Properties Inc. in Oxnard has increased the company's quarterly cash dividend to 36 1/2 cents per share on its outstanding common stock, representing an increase over the 34 cents per share paid in the previous quarter.

This dividend continues the company's five-year history of dividend increases.

The dividend will be paid June 30 to shareholders of record at the close of business June 15. As a result of the increase, the annualized rate of distribution will be $1.46 per share.

As of March 31, the company had investments in 258 skilled nursing facilities and 52 assisted-living residences in 32 states.

The company is a self-administered real estate investment trust that invests in long-term care and other health-care facilities.

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