Key Highlights

  • The board declared a $0.67 quarterly Dividend on August 6, 2026, payable October 30 to holders of record September 30.
  • Second-quarter net Operating Revenue was $408.025 million, up 8.8% from $374.910 million a year earlier.
  • GAAP diluted EPS was $2.54, compared with $1.52, while adjusted diluted EPS, a non-GAAP measure, was $1.74.
  • Skilled nursing occupancy in owned and leased facilities was 90.1% in the second quarter, compared with 89.4% a year earlier.

Overview

National HealthCare Corporation (NYSE American:NHC) declared a $0.67 quarterly dividend on August 6, 2026, payable October 30 to holders of record on September 30. The dividend yields 1.18%. Second-quarter GAAP diluted EPS was $2.54 and adjusted diluted EPS, a non-GAAP measure, was $1.74, and the company reported no long-term Debt outstanding at June 30, 2026.

Dividend Program and Shareholder Returns

The board declared a quarterly dividend of $0.67 per common share on August 6, 2026, payable October 30 to shareholders of record on September 30. It trades ex-dividend on September 30.

The second-quarter 10-Q shows dividends of $0.67 per share in the second quarter of 2026, compared with $0.64 in the first quarter of 2026 and $0.64 in the second quarter of 2025. Dividends for the six months were $1.31 per share, compared with $1.25 a year earlier, according to the company. Share repurchases in the first half of 2026 cost $23,561,000 for 136,951 shares. Each dividend remains subject to board approval.

About the Company

National HealthCare Corporation describes itself as the nation's oldest publicly traded long-term health care company. As of August 1, 2026, it operated 80 skilled nursing facilities, 26 assisted living communities, nine independent living communities, three behavioral health hospitals, 34 homecare agencies and 33 hospice agencies. It reports GAAP and adjusted earnings.

Second-Quarter Revenue, Earnings and Balance Sheet

Net operating revenue was $408.025 million, up 8.8% from $374.910 million. GAAP Net Income was $40.319 million, compared with $23.722 million, and GAAP diluted EPS was $2.54, compared with $1.52.

Adjusted net income, a non-GAAP measure, was $27.551 million, up 7.2% from $25.710 million. Adjusted diluted EPS was $1.74, compared with $1.65. Six-month net operating revenue was $789.846 million, and six-month GAAP diluted EPS was $4.82.

At June 30, 2026, total Assets were $1.537 billion and stockholders' Equity was $1.122 billion. Debt was zero, compared with $40.0 million at year-end 2025. Cash and cash equivalents were $39.209 million and marketable equity securities were $170.981 million.

Acquisitions, Management Fees and the New Credit Facility

The company acquired five skilled nursing facilities on June 1, 2026, adding 639 licensed beds in Tennessee and South Carolina. The 10-Q states the Acquisition price was $50.5 million, and the company said the revenue increase was primarily related to the acquisition.

Skilled nursing patient days were 749,723, compared with 729,519, and the average skilled nursing per diem was $366.88, compared with $361.42. The 10-Q also states that the company recognized management fees of $18.325 million that were earned for management services before 2025 but had not previously been recognized under ASC Topic 606.

After the quarter, on July 1, 2026, the company completed the acquisition of 32 skilled nursing facilities and three independent living facilities from National Health Investors for $560.0 million. A new credit Facility effective July 1 includes a $475 million term Loan and a $75 million revolver.

Outlook

Skilled nursing occupancy, per diem revenue, integration of the June and July acquisitions, borrowings under the new credit facility, the gap between GAAP and adjusted diluted EPS, and the board's quarterly declarations are the relevant considerations.