Navigation Links
MedQuist Announces Establishment of Revolving Credit Facility and Payment of Special Cash Dividend
Date:9/2/2009

MOUNT LAUREL, N.J., Sept. 2 /PRNewswire-FirstCall/ -- MedQuist Inc. (Nasdaq: MEDQ) today announced it has entered into a five-year $25 million revolving credit facility. The credit facility provides committed revolving funding through August 2014 and includes an option whereby the Company may increase its maximum credit up to $40 million, based on certain terms and conditions. The credit facility is a working capital facility that may be used for general corporate purposes. The Company does not currently anticipate borrowing under the credit facility.

Separately, the MedQuist Board of Directors, at a meeting held on August 27, 2009, unanimously declared a special cash dividend of $1.33 per share on MedQuist's common stock. The dividend will be paid on September 15, 2009 to shareholders of record as of the close of business on September 9, 2009. While the analysis of the tax impact of the dividend has not been completed, the Company expects a significant portion of the distribution will not be a taxable dividend for U.S. income tax purposes.

Robert Aquilina, Chairman of the Board, stated, "In declaring this special cash dividend, the Board considered the Company's financial position, earnings, earnings outlook, capital spending plans and other relevant factors. The Board continues to explore opportunities to enhance returns on shareholder equity."

About MedQuist:

MedQuist is a leading provider of medical transcription services, and a leader in technology-enabled clinical documentation workflow. MedQuist's enterprise solutions -- including mobile voice capture devices, speech recognition, Web-based workflow platforms, and global network of medical editors -- help healthcare facilities improve patient care, increase physician satisfaction, and lower operational costs. For more information, please visit www.medquist.com.

Disclosure Regarding Forward-Looking Statements:

Some of the statements in this press release constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are not historical facts but rather are based on the company's current expectations, estimates and projections regarding the company's business, operations and other factors relating thereto. Words such as "may," "will," "could," "would," "should," "anticipate," "predict," "potential," "continue," "expects," "intends," "plans," "projects," "believes," "estimates" and similar expressions are used to identify these forward-looking statements. The forward-looking statements contained in this press release include, without limitation, statements about borrowing under the credit facility, and the timing and tax treatment of the payment of the declared dividend. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict, including, without limitation, the possibility that the Company may need to borrow under the credit facility, and the risk that the tax treatment and the timing of the payment of the declared dividend may be modified. For a discussion of these risks, uncertainties and assumptions, any of which could cause our actual results to differ from those contained in the forward-looking statement, see the section of the company's Annual Report on Form 10-K for the year ended December 31, 2008, entitled "Risk Factors" and discussions of potential risks and uncertainties in the MedQuist's subsequent filings with the Securities and Exchange Commission.


'/>"/>
SOURCE MedQuist Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. MedQuist Re-launches New, Improved Web Site
2. MedQuist Updates Status of Outstanding SEC Filings
3. MedQuist and MedAssets Sign Multi-Year Contract for Clinical Documentation Workflow Solutions
4. MedQuist Evaluating Whether a Sale of the Company is in the Best Interests of the Company and its Shareholders
5. MedQuist Files Preliminary Proxy Statement and Applies for Listing on NASDAQ
6. MedQuist Announces Appointment of Brian ODonoghue and Mark E. Schwarz to its Board of Directors
7. Leading Arizona Radiological Group Selects MedQuist for Speech Recognition Solution
8. MedQuist Announces Entry Into Settlement Term Sheet Resolving South Broward Litigation
9. MedQuist Technology Solutions to Power Documentation Workflow at New England Facility
10. MedQuist to Get New Majority Stakeholder
11. MedQuist Announces Dismissal of South Broward Litigation and Appointment of New Interim President & CEO
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/13/2017)... ... October 13, 2017 , ... “The Journey: From the Mountains ... possible to save lost souls in the Philippines. “The Journey: From the Mountains to ... dedicated teacher of the Bible. She has taught all ages and currently teaches a ...
(Date:10/12/2017)... ... October 12, 2017 , ... First Healthcare Compliance (FHC), an ... showcase a range of technology and learning solutions at the 68th Annual American ... to be held October 14–18, 2017 at the Mandalay Bay Resort in Las ...
(Date:10/12/2017)... ... October 12, 2017 , ... Planet Fitness, one of ... announced today its plans to open a flagship location in Covington, LA at 401 ... Rooms To Go store next to Office Depot in the Holiday Square shopping center. ...
(Date:10/12/2017)... ... October 12, 2017 , ... IsoComforter, Inc. ( https://isocomforter.com ), one ... an innovative new design of the shoulder pad. The shoulder pad provides optimal ... controlling your pain while using cold therapy. By utilizing ice and water that is ...
(Date:10/12/2017)... ... 2017 , ... Asante, a nationally recognized health system in ... existing home health joint venture through an agreement, effective October 1, 2017, to ... home health company with Asante, delivering clinically integrated care, for the past eight ...
Breaking Medicine News(10 mins):
(Date:9/18/2017)... , Sept. 18, 2017  PMD Healthcare of ... Pharmacy of Kalamazoo, Mich. , have ... service that expedites and streamlines patient and provider access ... 2.0, and wellness management services.  ... used to measure lung function for a variety of ...
(Date:9/12/2017)... NEW YORK , Sept. 12, 2017   EcoVadis , the ... chains, has published the first annual edition of its Global CSR Risk ... 20,400 companies evaluated by EcoVadis, based on Scorecard Ratings that analyzed nearly ... ... Performance Index ...
(Date:9/9/2017)... -- ... Washington DC ... 12 th – Monday, September 18 th .The Brain Tumor Foundation ... scans to the public.Where:  BTF,s Mobile MRI Unit ... Street NW, Washington, D.C.What:BTF brings its nationwide initiative, the Road to Early ...
Breaking Medicine Technology: