NASHVILLE, Tenn., Dec. 30 /PRNewswire-FirstCall/ -- Brookdale Senior Living Inc. announced today that its Board of Directors has voted to suspend the Company's quarterly cash dividend indefinitely.
Bill Sheriff, Brookdale's CEO, commented on the dividend decision. "Given the uncertainty in today's economic environment, the Board of Directors has decided to suspend our dividend in order to enhance the Company's financial flexibility and strengthen our balance sheet by decreasing leverage. Brookdale continues to generate solid operating cash flow and, by taking this action, will be better positioned to take advantage of potential attractive investment opportunities as they may arise."
Brookdale Senior Living Inc. is a leading owner and operator of senior living communities throughout the United States. The Company is committed to providing an exceptional living experience through properties that are designed, purpose-built and operated to provide the highest-quality service, care and living accommodations for residents. Currently the Company owns and operates independent living, assisted living, and dementia-care communities and continuing care retirement centers, with approximately 550 communities in 35 states and the ability to serve approximately 52,000 residents.
For more information regarding Brookdale and to be added to our email distribution list, please visit http://www.brookdaleliving.com/.
