Universal Health Services (UHS) will suspend its quarterly dividend in 2020 because of COVID-19. Last year the health care REIT doubled its quarterly dividend to $0.10 per share, marking the first dividend increase since 2014.

In its press release UHS announces first quarter 2020 financial results and uncertainties related to COVID-19. The company states that it has implemented numerous financial-related measures including suspending the stock repurchase program and payment of quarterly dividends.

Universal Health Services, Inc. operates inpatient acute care hospitals and behavioral health facilities and outpatient and other facilities located in 37 states, Washington, D.C., Puerto Rico and the United Kingdom. It acts as the advisor to Universal Health Realty Income Trust, a real estate investment trust (UHT). Universal Health Services is headquartered in King of Prussia, PA and had paid a dividend every year since 2003 prior to the suspension in 2020.