Kindred Healthcare, Inc. (“Kindred” or the “Company”) (NYSE:KND)
today announced that its Board of Directors approved the payment of
the regular quarterly cash dividend to its common shareholders. The
quarterly cash dividend of $0.12 per common share will be paid on
April 1, 2015 to shareholders of record as of the close of business
on March 11, 2015.
Kindred also today announced that its Board of Directors has
approved payment of the scheduled March 1, 2015 installment payment
on the Company’s 7.50% Tangible Equity Units. This installment
payment consists of the quarterly installment payment of $18.75 per
unit, plus a one-time incremental payment of $1.25 per unit for the
period between November 24, 2014 and December 1, 2014, for a total
payment of $20.00 per unit. The installment payment will be paid on
March 2, 2015 (the first business day following the scheduled March
1 payment date) to the holders of record as of 5:00 p.m., New York
City time, on February 15, 2015. To the extent that any unit has
been separated into its constituent purchase contract and its
constituent share of Mandatory Redeemable Preferred Stock, the
installment payment is payable only on the constituent share of
Mandatory Redeemable Preferred Stock.
Future declarations of quarterly dividends and installment
payments will be subject to the approval of Kindred’s Board of
Directors.
Forward-Looking Statements
This press release includes forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of
1934, as amended. These forward-looking statements include, but are
not limited to, statements regarding the Company’s acquisitions of
Gentiva Health Services, Inc. (“Gentiva”) and Centerre Healthcare
Corporation (“Centerre”) (including the benefits, results and
effects of such acquisitions), all statements regarding the
Company’s expected future financial position, results of
operations, cash flows, dividends, financing plans, business
strategy, budgets, capital expenditures, competitive positions,
growth opportunities, plans and objectives of management, and
statements containing the words such as “anticipate,”
“approximate,” “believe,” “plan,” “estimate,” “expect,” “project,”
“could,” “would,” “should,” “will,” “intend,” “may,” “potential,”
“upside,” and other similar expressions, are forward-looking
statements. Statements in this press release concerning the
Company’s business outlook or future economic performance,
anticipated profitability, revenues, expenses, dividends or other
financial items, and product or services line growth, together with
other statements that are not historical facts, are forward-looking
statements that are estimates reflecting the best judgment of the
Company based upon currently available information.
Such forward-looking statements are inherently uncertain, and
stockholders and other potential investors must recognize that
actual results may differ materially from the Company’s
expectations as a result of a variety of factors, including,
without limitation, those discussed below. Such forward-looking
statements are based upon management’s current expectations and
include known and unknown risks, uncertainties and other factors,
many of which the Company is unable to predict or control, that may
cause the Company’s actual results, performance or plans to differ
materially from any future results, performance or plans expressed
or implied by such forward-looking statements. These statements
involve risks, uncertainties and other factors discussed below and
detailed from time to time in the Company’s filings with the
Securities and Exchange Commission.
Risks and uncertainties related to the Company’s acquisitions of
Gentiva and Centerre include, but are not limited to, uncertainties
as to whether the acquisitions will have the accretive effect on
the Company’s earnings or cash flows that it expects, the inability
to obtain, or delays in obtaining, cost savings and synergies from
the acquisitions, costs and difficulties related to the integration
of Gentiva’s and Centerre’s businesses and operations with the
Company’s businesses and operations, unexpected costs, liabilities,
charges or expenses resulting from the acquisitions, adverse
effects on the Company’s stock price resulting from the
acquisitions, the inability to retain key personnel, and potential
adverse reactions, changes to business relationships or competitive
responses resulting from the acquisitions.
In addition to the factors set forth above, other factors that
may affect the Company’s plans, results or stock price are set
forth in the Company’s Annual Report on Form 10-K, Quarterly
Reports on Form 10-Q and Current Reports on Form 8-K.
Many of these factors are beyond the Company’s control. The
Company cautions investors that any forward-looking statements made
by the Company are not guarantees of future performance. The
Company disclaims any obligation to update any such factors or to
announce publicly the results of any revisions to any of the
forward-looking statements to reflect future events or
developments.
About Kindred Healthcare
Kindred Healthcare, Inc., a top-85 private employer in the
United States, is a FORTUNE 500 healthcare services company based
in Louisville, Kentucky with annual revenues of approximately
$7.2 billion1. At December 31, 2014, on a pro forma basis to
include Gentiva and Centerre, Kindred through its subsidiaries had
approximately 103,000 employees providing healthcare services in
2,872 locations in 47 states, including 97 transitional care
hospitals, 16 inpatient rehabilitation hospitals, 90 nursing
centers, 22 sub-acute units, 634 Kindred at Home hospice, home
health and non-medical home care locations, 100 inpatient
rehabilitation units (hospital-based) and a contract rehabilitation
services business, RehabCare, which served 1,913 non-affiliated
facilities. Ranked as one of Fortune magazine’s Most Admired
Healthcare Companies for six years, Kindred’s mission is to promote
healing, provide hope, preserve dignity and produce value for each
patient, resident, family member, customer, employee and
shareholder we serve. For more information, go to
www.kindredhealthcare.com. You can also follow us on Twitter and
Facebook.
1Revenues were computed by combining the twelve months ended
December 31, 2014 data for Kindred, Gentiva, which was acquired by
the Company on February 2, 2015, and Centerre, which was acquired
by the Company on January 1, 2015.
Kindred Healthcare, Inc.Susan E. Moss, 502-596-7296Senior Vice
President, Marketing and Communications
Kindred Healthcare (NYSE:KND)
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