Omega Healthcare purchases 400,000 8 3/8% series D preferreds

By Jennifer Chiou

New York, Nov. 5 - Omega Healthcare Investors, Inc. said it purchased 400,000 shares of its 8 3/8% series D preferred stock at a 24.4% discount to its liquidation preference, or an 11.1% yield.

The repurchase took place on Oct. 16 at a price of $18.90 per share. The liquidation preference for the preferreds is $25.00 per share.

The company added that the purchase will result in a fourth-quarter 2008 gain of $2.4 million.

Stockholders of record on Oct. 31 will be paid dividends in the amount of $0.52344 per preferred on Nov. 17.

Omega is a Timonium, Md.-based real estate investment trust investing in and providing financing to the long-term care industry.

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