HCA, Nashville, will pay a special dividend to shareholders worth about $1 billion, the company stated in announcing its fourth-quarter earnings of $1.9 billion.
HCA to pay special dividend of $1 billion
The special $2 per share dividend is set to be paid Feb. 29 to improve liquidity to shareholders and won't affect HCA's ability to invest in its markets or acquire hospitals, said R. Milton Johnson, president and chief financial officer, in a news release. Last year, the for-profit chain added $1.2 billion in debt or debt capacity through the issuance of $5.5 billion worth of notes and the reworking of a revolving credit facility of $2.5 billion.
HCA's large quarterly income included a $1.5 billion pretax gain from its purchase of a controlling interest in HealthOne, a former joint venture focused on Denver-area hospitals and outpatient centers, as well as $145 million on the gain of facility sales, according to the release. HCA posted $283 million in net income in the fourth quarter of 2010.
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