The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Michael Albert Carroll - RBC Capital Markets, Research Division - Analyst
: Steve, can you explain how the Steward loan will help MPW profit on the potential upside of that operator? I mean, is this a straight loan? Or is
there some type of equity component tied to it, too?
Question: Michael Albert Carroll - RBC Capital Markets, Research Division - Analyst
: Okay. And then, I guess, can you talk about the reasoning for this one? I think you said it was planned. I mean, was it just simply to take out the PE
fund and does that allow Steward to operate any differently today? Or did those big control changes occurred when that convert was originally
issued in, I guess, the middle of last year?
Question: Michael Albert Carroll - RBC Capital Markets, Research Division - Analyst
: Okay. That makes sense. And I guess, on the dividend, I guess, now that -- I guess there are a lot of the issues with dividend is should we view that
as more of a onetime type of occurrence? Or is that going to be more reoccurring down the road like on a quarterly or annually -- annual-type
basis?
Question: Michael Albert Carroll - RBC Capital Markets, Research Division - Analyst
: Okay. And then I guess, just finally, can you talk a little bit about the joint ventures? I mean, are those still in under discussion right now and
potentially planned for the back half of this year? I guess, how should we think about that?
Question: Michael Albert Carroll - RBC Capital Markets, Research Division - Analyst
: Okay. It has COVID slowed those discussions down at all? Or is this really just driven by MPW? Just trying to think of the right time, I guess, for you
guys to be able to do something like that?
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