healthsouth corp (HSO) Snapshot

HEALTHSOUTH Corp. announced that its board of directors has declared a regular quarterly dividend of $16.25 per share on its 6.5% Series A Convertible Perpetual Preferred Stock, payable on July 15, 2013, to holders of record on July 1, 2013.

On June 11, 2013, HEALTHSOUTH Corp. entered into an amendment to its existing third amended and restated credit agreement, dated August 10, 2012, as supplemented or otherwise modified from time to time. The parties to the Credit Agreement, as amended, are the company, Barclays Bank PLC, as administrative agent and collateral agent, Citigroup Global Markets Inc., as syndication agent, Bank of America, N.A., Goldman Sachs Lending Partners LLC, and Morgan Stanley Senior Funding Inc., as co-documentation agents, and various other lenders from time to time. The Amendment made changes to the Credit Agreement to: permit, in addition to the existing specified amounts and types of permitted restricted payments, additional restricted payments so long as the senior secured leverage ratio is no greater than 1.5:1 after giving pro forma effect to those additional restricted payments; and extend the maturity date for the revolving credit facility from August 2017 to June 2018.

HEALTHSOUTH Corp. that it plans to build a 50-bed comprehensive inpatient rehabilitation hospital in Newnan, Georgia. Construction on the approximately 55,000-square foot hospital will begin in the fourth quarter of 2013. The proposed 50-bed hospital will provide patients with access to specialized rehabilitation programs and innovative equipment and technology, including electronic medical records and is expected to be operational in the fourth quarter of 2014. The development of HealthSouth Rehabilitation Hospital of Newnan represents a $22 million investment in the community and, once fully operational, is expected to generate more than 125 new, full-time jobs and approximately 300 construction jobs.