HCA Announces Intention to Declare Special Cash Dividend of $2.00 per Share
HCA Holdings (NYSE: HCA) today announced that it intends, subject to applicable legal and contractual restrictions, to declare and pay a special cash dividend of $2.00 per share to stockholders and certain optionholders on or prior to December 31, 2012. The dividend is expected to be funded through the net proceeds from the Company's offering of $1.0 billion aggregate principal amount of senior notes due 2021. HCA's ratio of debt-to-Adjusted EBITDA at September 30, 2012 was approximately 4.1x compared to 4.5x at December 31, 2011. The Company's ratio of debt-to-Adjusted EBITDA is estimated to have been approximately 4.5x on September 30, 2012 adjusted for financing transactions completed in the fourth quarter of 2012 and the anticipated impact of the special dividend and incremental financing. There can be no assurance that the special dividend will be declared and paid.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.