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. Effective November 7, 2019, it is Medical Facilities’ intention that a dividend of C$0.07 per common share will be declared and paid quarterly. The first dividend payment under the new payout schedule will be a prorated amount for a stub period from November 1, 2019 to December 31, 2019 and will be paid on January 15, 2020. The first full quarterly dividend will be paid on April 15, 2020, 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.
Historical dividend information is provided from June 2011, when Medical Facilities converted from an income participating securities (“IPS”) to a traditional common share structure. Until May 31, 2011, Medical Facilities paid a monthly distribution of $0.0917 per IPS unit, which consisted of interest on subordinated notes and dividends on common shares. For IPS distribution history, please click here.