UHS to issue dividend

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Thursday, Nov. 18, 2004 | 11:03 a.m.

Universal Health Services Inc., which operates four Las Vegas hospitals, announced Wednesday it is issuing a cash dividend to shareholders.

The King of Prussia, Pa.-based company said in a statement that its board of directors approved a 8-cent per share dividend on Dec. 15 to all shareholders of record as of Dec. 1.

The board of directors also approved the repurchase of 2 million shares to supplement 564,000 shares remaining under previous repurchase programs, the company said in a statement. Management also was granted permission to use the repurchased shares to buy its convertible debentures, which are due 2020.

In Las Vegas, Universal Health operates Desert Springs, Valley, Summerlin and Spring Valley hospitals, two outpatient surgery centers and a behavioral health hospital.