DIVIDENDS, DRIP AND TAX INFORMATION

Medical Facilities believes in generating returns for its shareholders in the form of both growth and dividend distributions. The declaration and payment of dividends on Medical Facilities' common shares and the amount thereof are at the discretion of the Board of Directors which takes into account many factors, including the company's financial results, capital requirements, available and future cash flow, debt levels and liquidity, and other factors considered relevant from time to time. It is Medical Facilities' intention that a dividend of C$0.0805 per common share will be declared and paid quarterly, subject to approval by the Board of Directors.

Medical Facilities designates all dividends paid or deemed to be paid as "eligible dividends" pursuant to subsection 89(14) of the Income Tax Act (Canada) and its equivalent in any provinces of Canada. 

Dividends
Filter by Filing date:
2024
Total Dividend ($) per Share
Record Date
Payment Date
Declaration Date
Ex-Dividend Date
Q1
0.0805
28.03.2024
15.04.2024
19.03.2024
27.03.2024
DIVIDEND REINVESTMENT AND SHARE PURCHASE PLAN
The Dividend Reinvestment and Share Purchase Plan (the "Plan") adopted by Medical Facilities permits eligible investors ("Participants") to enroll in the Plan and have all dividends they receive from their common shares used to purchase additional common shares of Medical Facilities ("Plan Shares"). Consult the DRIP Plan for the complete text.
DRIP Documents
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DRIP Plan
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DRIP Form
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DRIP FAQS
The following are common questions and answers concerning the Plan. Please note that the answers provided are in summary form only and more detailed and complete information is available from the Plan itself.

The Plan allows Medical Facilities’ shareholders resident in Canada to automatically reinvest cash dividend paid on their common shares in additional common shares.

Shareholders who do not enrol their common shares in the Plan will continue to receive dividends in the usual manner.

The Plan is administered by Computershare Trust Company of Canada (the “Agent” or “Computershare”), which acts as agent for all Participants.

The Plan offers Medical Facilities’ shareholders a cost-effective means to purchase common shares through the reinvestment of dividends on a regular basis and in a convenient manner.

Participants in the Plan will dollar cost-average their common share purchases by reinvesting dividends under the Plan on a quarterly basis.

Medical Facilities uses a “certificateless” book-entry only securities registration system in which all of the outstanding common shares are held through the CDS Clearing and Depository Services Inc. (“CDS”) instead of being registered in the names of the beneficial shareholder. As a result, beneficial shareholders may not directly enroll in the Plan through Medical Facilities or the Plan Agent, but must enroll in the Plan via their CDS Participant.

Any holder of common shares in Medical Facilities (a “Shareholder”) who is a resident of Canada may enroll in the Plan at anytime. Shareholders who are resident outside of Canada are not permitted to participate in the Plan.

Beneficial shareholders may participate in the Plan by (i) advising their CDS Participant of their desire to participate in the Plan and directing them to take all necessary actions to permit participation in the Plan; and (ii) completing Form A – Certificate of Beneficial Ownership and returning it to Medical Facilities.

The rules of CDS dictate the timing of commencement in the Plan for beneficial shareholders. Such rules govern when CDS Participants must provide notice to CDS with respect to beneficial shareholders’ participation in the Plan. Generally, in order for participation to be effective for a given dividend, such advice must be communicated no later than 4:00 p.m. (Toronto time) on the fifth (5th) business day immediately preceding the dividend record date (or such other deadline your broker/financial institution may set from time to time in respect of such dividend).

A beneficial shareholder may terminate participation at any time by providing written notice to his or her CDS Participant. The CDS Participant will then give notice to CDS in accordance with the rules and regulations of CDS. A beneficial shareholder who has terminated participation in the Plan will be credited with any Plan common shares held for the Participant’s account in accordance with the operating policies of such CDS Participant.

Dividends payable on common shares enrolled in the Plan will be aggregated and then used by the Agent, after deduction of applicable fees, to purchase common shares on the open market through the Toronto Stock Exchange.

For dividend reinvestment, common shares purchased under the Plan will be purchased on the Toronto Stock Exchange during the four (4) business days following the relevant dividend payment date (if insufficient shares are available for purchase during such period, surplus funds will be returned to Shareholders). Medical Facilities pays dividends on its common shares quarterly. The declaration of dividends and corresponding dividend record and payment dates are determined by the Medical Facilities’ Board of Directors in its sole discretion.

Plan Shares are purchased on the Toronto Stock Exchange through a broker-dealer designated by the Agent. The price of the common shares shall be the average of the price paid (excluding brokerage commissions, fees and all transaction costs) per common share (the “Average Purchase Price”) for all of the common shares purchased by the Agent in respect of the Plan on the Toronto Stock Exchange during the four (4) business days following the relevant dividend date preceding the purchase of Plan Shares.

Plan Participants (CDS) will only receive the number of whole common shares to which they are entitled and a cash payment equal to any fractional Plan Shares to which it would be entitled multiplied by the Average Purchase Price.

As a beneficial shareholder participating in the Plan, you will receive information reinvestment of dividends from your intermediary in accordance with your intermediary’s administrative practices.

Medical Facilities reserves the right to amend, suspend or terminate the Plan at any time, subject to the approval of the Toronto Stock Exchange, but such action shall have no retroactive effect that would prejudice the interest of Participants. All Participants will be sent written notice of any such amendment, suspension or termination. Medical Facilities, in conjunction with Computershare, may also from time to time adopt rules and regulations to facilitate the administration of the Plan.

Participants are urged to consult their tax advisors as to their particular tax position.

Should you have any additional questions or require additional information about the Plan, please contact:

Computershare Trust Company of Canada
510 Burrard Street, 3rd Floor
Vancouver, British Columbia V6C 3B9
P: 604-661-9488
F: 604-661-9401

TAX INFORMATION

The following summary is not intended to be legal or tax advice to any particular holder of common shares of Medical Facilities. Holders of common shares (as well as prospective purchasers) should consult their own tax advisors in determining the application to them of any Canadian federal, provincial, U.S. federal, state, local, foreign or other tax consequences of the purchase, ownership and disposition of common shares.

Canadian Disclosure

Medical Facilities hereby advises that all of its dividends will be designated as "eligible dividends" for Canadian income tax purposes, unless indicated otherwise. Canadian resident individuals who receive "eligible dividends" will be entitled to an enhanced gross-up and dividend tax credit, resulting in a reduction of income taxes otherwise payable on those dividends.

United States Disclosure
Withholding Tax Considerations

Dividends paid by Medical Facilities to a U.S. shareholder generally will be subject to a 15% Canadian withholding tax.

Dividends paid by Medical Facilities to a U.S. shareholder that is exempt from tax in the United States may be exempt from Canadian withholding tax. Such holders should consult their own tax advisors with respect to the availability of an exemption to Canadian withholding tax pursuant to Article XXI of the Canada-U.S. Income Tax Convention (the "Canadian Treaty"). U.S. holders that are being subject to Canadian withholding tax in excess of the amounts set out above are encouraged to consult their own brokers and confirm that their distributions are being appropriately taxed.

Qualified Dividends

Dividends received by U.S. persons from "qualified foreign corporations" qualify as"qualified dividends" and, under current legislation, are generally subject to a preferential tax rate if received by a non-corporate U.S. person that meets the "holding period requirement". The "holding period requirement" requires the stock to have been held for more than 60 days in the 121-day period that begins 60 days before the ex-dividend date.

A qualified foreign corporation includes a Canadian corporation that is eligible for the benefits of the Canadian Treaty. However, the term "qualified foreign corporation" does not include any foreign corporation that, for the taxable year of the corporation in which the dividend is paid, or the preceding taxable year, is a passive foreign investment company (PFIC).

Assuming that Medical Facilities is not currently a PFIC and was not a PFIC in the preceding tax year, dividends on the common shares received by a non-corporate U.S. person meeting the holding period requirement should be treated as dividends from a "qualified foreign corporation" and therefore eligible for "qualified dividend" status.