Dividend declarations are determined based on monthly reviews of Medical Facilities’ earnings, capital expenditures, and related cash flows by a sub-committee of the Board of Directors. Shareholders are entitled to receive dividends only when such dividends are declared by the Board of Directors, and there is no entitlement to any dividend prior thereto. Medical Facilities pays its dividends on a monthly basis. The current annual dividend rate is C$1.125 per common share.
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.