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EPR PROPERTIES REPORTS SECOND QUARTER 2021 RESULTS _ Kansas City , MO , July 27 , 2021 EPR Properties ( NYSE : EPR ) today announced operating results for the second quarter and six months ended June 30 , 2021 ( dollars in thousands , except per share data ) : Three Months Ended June 30 , Six Months Ended June 30 , 2021 2020 2021 2020 Total revenue $ 125,362 $ 106,360 $ 237,127 $ 257,372 Net income ( loss ) available to common shareholders Net income ( loss ) available to common shareholders common share 12,519 ( 68,999 ) 9,865 ( 37,915 ) per diluted 0.17 ( 0.90 ) 0.13 ( 0.49 ) Funds From Operations as adjusted ( FFOAA ) ( 1 ) FFOAA per diluted common share ( 1 ) 50,642 0.68 31,418 86,247 107,344 0.41 1.15 1.39 Adjusted Funds From Operations ( AFFO ) ( 1 ) AFFO per diluted common share ( 1 ) 53,006 0.71 33,313 0.44 91,932 123,380 1.23 1.59 ( 1 ) a non - GAAP financial measure Second Quarter Company Headlines • • Early Termination of Covenant Relief Period - Due to favorable performance during the second quarter of 2021 , and the expectation of continued improvement going forward , the Company elected early termination of the - covenant relief period relating to its Consolidated Credit Agreement and certain private placement notes . Resumption of Monthly Cash Dividend to Common Shareholders - The Company announced a monthly cash dividend of $ 0.25 per common share payable on August 16 , 2021 to shareholders of record on July 30 , 2021 . Quarterly Collections Continue to Increase Cash collections from customers continue to improve and were approximately 85 % of contractual cash revenue for the second quarter of 2021 ( an increase from 82 % previously reported due to subsequent collections ) . In addition , year - to - date through July 26 , 2021 , the Company collected $ 48.9 million of deferred rent and interest from accrual basis tenants and borrowers that reduced receivables . Property Openings Near 100 % - As of July 26 , 2021 , approximately 99 % of the Company's theatre and 100 % of the Company's non - theatre locations were open , excluding normal seasonal closings . Strong Liquidity Position - As of June 30 , 2021 , the Company had cash on hand of $ 509.8 million and no borrowings on its $ 1.0 billion unsecured revolving credit facility . CEO Comments “ Our second quarter results and the early termination of our covenant relief period demonstrate the meaningful progress we have made to improve cash collections , stabilize our earnings and return to growth , ” stated Greg Silvers , President and CEO of EPR Properties . “ Almost all of our tenants have reopened and are enjoying the return of customers and ramp - up of their businesses , as consumers are again seeking the experiences our properties offer . We are particularly pleased to have announced the resumption of our monthly cash dividend to common shareholders and anticipate growing our common dividend over time alongside expected earnings growth . With the removal of investment restrictions that had been a condition to covenant relief , a strong liquidity position , and an increasingly constructive outlook as reflected in our guidance , we look forward to pursuing growth opportunities in the quarters ahead . " COVID - 19 Response and Update Early Termination of Covenant Relief Period As announced , on July 12 , 2021 , the Company provided notice of its election to terminate the covenant relief period early and submitted compliance certificates for the quarter ended June 30 , 2021 for its Consolidated Credit Agreement that governs its $ 1.0 billion revolving credit facility ( zero balance outstanding at June 30 , 2021 ) and $ 400.0 million term loan , and its Note Purchase Agreement that governs its $ 316.2 million of outstanding private placement notes . The certificates provided that the Company was in compliance with all of its financial and other covenants , and would have been even if the covenant relief period had not been in effect during the second quarter . The Company's election to terminate the covenant relief period early means that , effective July 13 , 2021 , the interest rates on the debt returned to the previous levels defined in the agreements resulting in a reduction of approximately 100 basis points on the revolving credit facility and term loan , and 125 basis points on the private placement notes – in each case based on the