LYCOS RETRIEVER 
Health Care Reit: Share
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TOLEDO, Ohio -- Health Care REIT, Inc. (NYSE:HCN) announced today that its Board of Directors declared a prorated dividend of $0.2991 per share. This dividend, when combined with the prorated dividend of $0.3409 per share paid on December 28, 2006 in connection with the Windrose Medical Properties Trust merger, represents a total dividend of $0.64 per share for the quarter ended December 31, 2006.
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At year end, a reserve was recorded against the four quarters of dividends accruing from the Genesis Health Ventures (Genesis) Series G Convertible Preferred shares held by Manor Care subsidiaries. Additionally, following an independent valuation analysis of Genesis and the Series G shares, the company wrote down its investment of $293 million by $274 million.
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Investing in the health care area(s) is a positive theme for the next 10 to 20 years. HCN offers an investment in health care with a yield. Many REITS are overvalued and subject to declining share prices. HCN owns buildings, not mortgages, and should continue getting excellent returns on it's investments. Over time should be a great Total Return stock.
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Integrated Health Services Inc. said yesterday that it had a net loss of $6.6 million, or 13 cents a share, in its first quarter, a result the company attributed to the adverse impact of a new Medicare payment system. For the first quarter of 1998, the Owings Mills-based company posted net earnings of $37.6 million, or 73 cents a share.
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