Investor Relations

Investor
Relations

Distributions

On February 1, 2019, the board of directors (the Board) of NorthStar Healthcare determined to suspend the monthly distribution payments to stockholders, effective immediately. In determining to suspend monthly distribution payments to stockholders, the Board performed a thorough analysis of NorthStar Healthcare’s business, financial condition, liquidity sources and capital needs. The Board believes it is prudent to preserve capital and protect NorthStar Healthcare’s financial position by suspending distributions at this time. NorthStar Healthcare expects that cash retained by the suspension of cash distributions will allow NorthStar Healthcare to reinvest in its assets through maintenance and strategic capital expenditures and reduce leverage in order to drive long-term value for stockholders.

Prior to February 2019, NorthStar Healthcare generally paid distributions on a monthly basis based on daily record dates on the first business day of the month following the month for which the distribution was accrued. From the date of its first investment on April 5, 2013 through December 31, 2017, NorthStar Healthcare paid an annualized distribution amount of $0.675 per share of its common stock. For the year ended December 31, 2018 and month ended January 31, 2019, NorthStar Healthcare paid an annualized distribution amount of $0.3375 per share of its common stock.

Year/Period Payment Frequency Daily Accrual Rate
(per share)
Annualized Rate
(per share)
Total Dividends
Declared (000's)
2013 Monthly $    0.0018493200 $    0.6750 $    1,312
2014 Monthly 0.0018493200 0.6750 26,641
2015 Monthly 0.0018493200 0.6750 88,271
2016 Monthly 0.0018493200 0.6750 123,142
2017 Monthly 0.0009246580 0.6750 125,803
2018 Monthly 0.0009246580 0.3375 63,256
January 2019 Monthly 0.0009246580 0.3375 5,431
TOTAL       $  433,856

For the year ended December 31, 2018, distributions in excess of funds from operations (FFO) were paid using available capital sources, including proceeds from borrowings and dispositions. To the extent distributions are paid from sources other than FFO, the ownership interest of NorthStar Healthcare’s public stockholders will be diluted. Future distributions declared and paid may exceed FFO and cash flow provided by operations. FFO, as defined, may not reflect actual cash available for distributions. NorthStar Healthcare’s ability to pay distributions from FFO or cash flow provided by operations depends upon its

NorthStar Healthcare will continue to assess its distribution policy in light of its operating performance and capital needs.


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