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:8/19/2017)... , ... August 18, 2017 , ... ... Administration Reauthorization Act of 2017, legislation that provides for greater public access to ... moderate hearing loss to access OTC hearing aids without being seen by a ...
(Date:8/19/2017)... ... August 19, 2017 , ... Yesterday, the President of the ... there are two sides. There are not two sides to hatred, bigotry, discrimination, and ... and prejudice, and the NPEIV stands against all forms of such hatred and discrimination ...
(Date:8/18/2017)... ... August 19, 2017 , ... Mr. Noppadon Pakprot, ... the Amazing Thailand Health and Wellness Tourism Showcase 2017 yesterday, which unveiled the ... Governor for Tourism Products and Business at TAT said, “Thailand has long been ...
(Date:8/18/2017)... ... August 18, 2017 , ... Mediaplanet today announces the launch ... lifestyles and highlighting the importance of proactive eye and ear health. The campaign ... latest innovations in hearing aid technology. , In this issue, the National ...
(Date:8/18/2017)... O'Fallon, MO (PRWEB) , ... August 18, 2017 , ... ... Charles County, is inaugurating a new charity drive to generate community support for efforts ... for research into cures and treatments for all types of cancer. , Each ...
Breaking Medicine News(10 mins):
(Date:8/7/2017)... Aug. 7, 2017  Endo International plc (NASDAQ: ... to resolve virtually all known U.S. mesh product liability ... resolve the known remaining U.S. claims at reasonable values. ... in the fourth quarter of 2017 and continuing through ... second quarter 2017 results, the Company intends to increase ...
(Date:8/2/2017)... Aug. 2, 2017 Fenita J. ... as a Pinnacle Lifetime Professional in the Field ... Manager at Turing Pharmaceuticals, AG. Her skills and ... relationship building.                ... 25 years of experience as a highly successful ...
(Date:8/1/2017)... Aug. 1, 2017   CerSci Therapeutics , a ... Texas , has received notice from the National ... of Health (NIH) that it has been awarded a ... over $650,000 in 2017 with an additional $1,000,000 to ... New Drug application of their lead non-opioid drug candidate ...
Breaking Medicine Technology: