In total, CHS expects to dole out roughly $23 million to shareholders.
In a news release, CHS Chairman, President and CEO Wayne Smith said it is the for-profit hospital operator’s first dividend since going public in 2000. “This special cash dividend of $0.25 per share provides us with an opportunity to return capital to our shareholders with payment prior to the end of the year,” he said.
CHS posted net income of $44.2 million in its most recent quarter, and for the first nine months of fiscal year 2012, CHS reported a profit of $203.1 million — an 18.7 percent increase from the first nine months of 2011.
If Congress allows the Bush-era tax cuts to expire at the end of the year, the maximum tax rate on dividends would increase from 15 percent to 39.6 percent.
More Articles on Community Health Systems:
For-Profit Hospital Stock Report: Week of Nov. 26-30, 2012
New York City Hedge Fund Purchases 8.4% of CHS Shares
CHS Revises Credit Agreement for Acquisition Flexibility
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