CML healthCare Inc. (CLC.TO) announced its intention to divest diagnostic imaging business, with the exception of MRI/CT operations in Ontario. The company has commenced preliminary discussions with a number of prospective buyers, with an aim to complete the transaction by the end of 2013. CML plans to use the net proceeds from the planned sale to reduce debt and to investments in its core Laboratory Services business.
The company also announced the establishment of a new quarterly dividend of C$0.1325 per common share, or C$0.53 per common share on an annual basis. It is expected that the first quarterly dividend will be payable in April 2013.
CML also announced its intention to implement a normal course issuer bid to repurchase common shares for cancellation. The NCIB will be completed through the facilities of the Toronto Stock Exchange.
To receive FREE breaking news email alerts for CML Healthcare Income Fund and others in your portfolio
by RTT Staff Writer
For comments and feedback: editorial@rttnews.comBusiness News