/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
TORONTO, Feb. 20 /CNW/ - Medical Facilities Corporation (TSX: DR.UN)
("Medical Facilities" or the "Company") announced today that a cash payment of
Cdn$0.0917 per Income Participating Security will be payable on March 17, 2008
to holders of record of Income Participating Securities at the close of
business on February 29, 2008.
Each of the Company's Income Participating Securities is comprised of one
common share and Cdn$5.90 aggregate principal amount of 12.5% subordinated
notes. The total payment of Cdn$0.0917 reflects a cash dividend of Cdn$0.0302
per common share and an interest payment of Cdn$0.0615 per Cdn$5.90 aggregate
principal amount of 12.5% subordinated notes each for the month of February.
The ex-dividend date for this distribution will be February 27, 2008. Medical
Facilities designates this dividend to be an "eligible dividend" pursuant to
subsection 89(14) of the Income Tax Act (Canada) and its equivalent in any
provinces of Canada.
About Medical Facilities Corporation
Medical Facilities Corporation owns 51%+ interests in four specialty
surgical hospitals, located in South Dakota and Oklahoma, as well as 51%
interest in two ambulatory surgery centers in California. The specialty
hospitals perform scheduled surgical, imaging and diagnostic procedures and
derive their revenue from the fees charged for the use of their facilities.
The ambulatory surgery centers specialize in outpatient surgical procedures,
with patient stays of less than 24 hours. Medical Facilities is structured so
that a majority of its free cash flow from operations is distributed to
holders of its Income Participating Securities, of which a portion is interest
payment on subordinated debt and a portion is dividend. For more information,
please visit www.medicalfacilitiescorp.ca
Caution concerning forward-looking statements
This news release may be interpreted to contain forward-looking
statements. Such statements involve known and unknown risks, uncertainties and
other factors outside of management's control that could cause actual results
to differ materially from those described in the forward-looking statements.
The Corporation does not assume responsibility for the accuracy and
completeness of those forward-looking statements and does not undertake the
obligation to publicly revise these forward-looking statements to reflect
subsequent events or circumstances.
For further information:
For further information: Michael Salter, Chief Financial Officer,
Medical Facilities Corp., (416) 848-7380 or 1-877-402-7162; Bruce Wigle,
Investor Relations, The Equicom Group Inc., (416) 815-0700 ext. 228 or
1-800-385-5451 ext.228, Email: email@example.com