TORONTO, Jan. 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 February 15, 2011 to holders of record of Income Participating
Securities at the close of business on January 31, 2011.
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 January. The ex-dividend date
for this distribution will be January 27, 2011. 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
Medical Facilities owns controlling interests in four specialty surgical
hospitals, located in South Dakota and Oklahoma, as well as an
ambulatory surgery center 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 center specializes 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 IPS units, of which a
portion is interest on subordinated debt and a portion is dividend. For
more information, please visit www.medicalfacilitiescorp.ca.
Caution concerning forward-looking statements
Statements made in this news release, other than those concerning
historical financial information, may be forward-looking and therefore
subject to various risks and uncertainties. Some forward-looking
statements may be identified by words like "may", "will", "anticipate",
"estimate", "expect", "intend", or "continue" or the negative thereof
or similar variations. Certain material factors or assumptions are
applied in making forward-looking statements and actual results may
differ materially from those expressed or implied in such statements.
Factors that could cause results to vary include those identified in
Medical Facilities' filings with Canadian securities regulatory
authorities such as legislative or regulatory developments,
intensifying competition, technological change and general economic
conditions. All forward-looking statements presented herein should be
considered in conjunction with such filings. Medical Facilities does
not undertake to update any forward-looking statements; such statements
speak only as of the date made.
SOURCE Medical Facilities Corporation
For further information:
|Michael Salter |
Chief Financial Officer
Medical Facilities Corp.
(416) 848-7380 or 1-877-402-7162
| || || || || ||Salvador Diaz|
The Equicom Group Inc.
(416) 815-0700 or 1-800-385-5451 ext. 242