EPR Properties reinstates dividend, reports Q2 rent collections

EPR Properties declared a monthly cash dividend of 25 cents per common share to be paid Aug. 16 to shareholders of record July 30.

The resumption of the dividend payment follows the diversified real estate investment trust's decision to end the covenant relief period early under certain of its credit facilities.

The company provided notice July 12 of its election to terminate the covenant relief period early and submitted compliance certificates for the second quarter for its $1.0 billion revolving credit facility, $400.0 million term loan and $316.2 million of outstanding private placement notes.

For the second quarter, EPR received some 82% of contractual cash revenue and collected $16.3 million of deferred rent and interest from accrual basis tenants.

As of June 30, about 99% of the company's theater and 98% of its non-theater sites were open, excluding normal seasonal closings, while certain assets in Canada remain closed due to local restrictions.