Medical Facilities Corporation Announces Second Quarter Dividend

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TORONTO, June 21, 2023 /CNW/ - Medical Facilities Corporation (TSX: DR) ("Medical Facilities" or the "Company") announced today that a cash dividend payment of Cdn $0.0805 per common share will be payable on July 17, 2023, to holders of record of common shares at the close of business on June 30, 2023.

The ex-dividend date for this distribution is June 29, 2023. 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.

Medical Facilities, in partnership with physicians, owns a portfolio of highly rated, high-quality surgical facilities in the United States. MFC's ownership includes controlling interest in four specialty surgical hospitals located in Arkansas, Oklahoma, and South Dakota, and an ambulatory surgery center ("ASC") located in California. In addition, through a partnership with NueHealth LLC, Medical Facilities owns a controlling interest in four ambulatory surgery centers located in Michigan, Missouri, Nebraska, and Pennsylvaniaⁱ. MFC also owns a non-controlling interest in an ASC in Missouri. The specialty surgical hospitals perform scheduled surgical, imaging, diagnostic and other procedures, including primary and urgent care, and derive their revenue from the fees charged for the use of their facilities. The ASCs specialize in outpatient surgical procedures, with patient stays of less than 24 hours. For more information, please visit www.medicalfacilitiescorp.ca.

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.

ⁱ As previously disclosed, clinical operations have been closed at Eastwind Surgical, LLC. MFC still owns an interest in the entity which is in the process of being wound down.

SOURCE Medical Facilities Corporation

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