Business & Finance
US Physical Therapy to pay higher quarterly dividend and announces partnership interest sale
3 July 2019 -

US Physical Therapy Inc (NYSE:USPH) on Monday declared its quarterly dividend of USD0.27 in 2019.

This marks a growth of 17% in its quarterly dividend from the prior USD0.23 per share per quarter in 2018.

For 2019, the company intends to raise the third and fourth quarter dividends by another 11% to USD0.30 per share.

Additionally, the company announced the divestiture of its 50% interest in one physical therapy partnership to the group's founders for sales proceeds of USD11.6m in cash. There is an estimated USD2.0m pre-tax gain on the sale.

Founded in 1990, the company operates 565 outpatient physical therapy clinics in 41 states. The clinics provide preventative and post-operative care for a variety of orthopedic-related disorders and sports-related injuries, treatment for neurologically-related injuries and rehabilitation of injured workers.