Medical Properties Trust Adopts Updated Capital Allocation Strategy

(RTTNews) - Medical Properties Trust, Inc. (MPW) said its Board has adopted an updated capital allocation strategy designed to significantly strengthen its balance sheet, and lower cost of capital. The refreshed strategy prioritizes actions to expedite debt reduction, while continuing to return substantial cash to shareholders.

To facilitate accelerated debt reduction, the company will continue exploring refinancing, sales, and joint-venture opportunities that enable repayment of debt, while maintaining a diversified portfolio in terms of geography, asset type, and tenant mix. The company has identified certain non-leased and non-real estate assets to be sold. Also, MPT plans to scale back discretionary operating expenses and other costs.

The Board declared a quarterly cash dividend of $0.15 per share, which will be paid on October 12 to shareholders of record as of September 14.