I bought Ron's latest dividend pick. I like it - in a good growth sector (medical care) and the dip in the stock price makes a nice 8% yield. Here is their last financials released this past week
TORONTO, Nov. 8, 2018 /CNW/ - Medical Facilities Corporation ("Medical Facilities," "MFC," or the "Corporation") (TSX: DR), reported its financial results today for the three-month and nine-month periods ended September 30, 2018. All amounts are expressed in U.S. dollars unless indicated otherwise.
Q3 2018 Summary
(Compared to Q3 2017)
Revenue increased 17.1% to $104.2 million
Surgical cases increased by 47.4%
Income from operations increased 32.9% to $16.5 million
EBITDA1 increased 17.1% to $22.6 million
Cash available for distributions1 decreased 23.4% to C$9.4 million
Payout ratio1 was 92.4% compared to 70.7% in Q3 2017
"Our strong financial results for the quarter are a testament to the diversification across our portfolio," said Robert O. Horrar, President and CEO of Medical Facilities. "Total revenue was up 17.1%, including organic growth of 7.4%, which was driven by increases at Unity Medical, Oklahoma Spine, and Black Hills Surgical Hospitals. Our EBITDA kept pace, also increasing at 17.1% for the quarter. Importantly, we are well positioned to capitalize on the growing demand for outpatient healthcare services. While organic growth remains a priority, our recently increased credit line and our MFC Nuehealth partnership improve our ability to pursue additional targets within our acquisition pipeline."