/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
TORONTO, March 22 /CNW/ - Medical Facilities Corporation (TSX:DR.UN) (the
"Corporation") announced today that a cash payment of Cdn$0.0917 per Income
Participating Security will be payable on April 16, 2007 to holders of record
of Income Participating Securities at the close of business on March 30, 2007.
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 March. The
ex-dividend date for this distribution will be March 28, 2007. Medical
Facilities Corporation 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
MFC owns controlling interests in four surgical hospitals, three located
in South Dakota and one in Oklahoma. The four hospitals perform scheduled
surgical, imaging and diagnostic procedures and derive their revenue from the
fees charged for the use of their facilities. The Corporation is structured so
that a majority of its free cash flows from operations are distributed to
holders of its IPS with a portion of such distributions being interest
payments on the subordinated debt component. For more information, please
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) 848-7980 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: firstname.lastname@example.org