08:54 AM EDT, 05/09/2024 (MT Newswires) -- Medical Facilities Corporation ( MFCSF ) on Thursday reported first quarter net income fell while revenue stayed relatively flat. The company also announced an 12% dividend hike.

The company, which owns surgical facilities in the United States, said net income fell 13% to US$8.5 million, or US$0.07 per share, from US$9.7 million, or US$0.17 per share.

Facility service revenue of US$108.3 million was down 0.9% from the US$109.3 million, last year.

Medical Facilities ( MFCSF ) said surgical cases increased 4.3%. Income from operations rose 29% to US$17.4 million, from US$13.5 million.

The quarterly dividend of C$0.09 per common share is payable on June 28.