Kindred Healthcare Initiates Dividend Program
Hospital operator Kindred Healthcareannounced today it will begin paying a quarterly dividend to investors at a rate of $0.12 per share.
Noting that it's the first dividend payment in the company's history, Kindred CEO Paul J. Diaz said: "This cash dividend reflects the strength of our operating cash flows, our confidence in our business outlook, and our commitment to growing shareholder value. The quality and strength of our balance sheet, along with a proven track record of generating strong operating cash flows, provides us with the financial flexibility to return capital to shareholders in the form of a dividend while also continuing our strategic development activities in our key integrated care markets."
The board of directors said the quarterly dividend is payable on Sept. 9 to the holders of record at the close of business on Aug. 19. The regular dividend payment equates to a $0.48-per-share annual dividend, yielding 3% based on the closing price today of Kindred's stock.
The article Kindred Healthcare Initiates Dividend Program originally appeared on Fool.com.
Fool contributor Rich Duprey and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.