Tuesday, November 16, 2010

Dividends for for-profit LTC homes

Leisureworld Announces November Dividend
MarketWatch (press release)
MARKHAM, ONTARIO, Nov 15, 2010 -- Leisureworld Senior Care Corporation today announced that the Company's dividend for November, 2010 will be $0.0708 per share, representing $0.85 per share on an annualized basis. Payment will be made on December 15, 2010 to shareholders of record November 30, 2010.

Leisureworld is the third largest licensed long-term care (LTC) provider in Ontario. The Company owns and operates 26 LTC homes, approximately 4,314 beds across Ontario, Canada. 

One Globe and mail article I read stated that 530 of over 614 LTC homes were operated by for-profits in Ontario. It is a hard statistic to determine.

Leisureworld also owns and operates one retirement home with 29 beds and one independent living home with 53 apartments. Leisureworld subsidiaries include: Preferred Health Care Services, an accredited provider of professional nursing and personal support services, Ontario Long Term Care, a provider of purchasing services, dietary, social work, and other regulated health professional services, and Tealwood Developments, a provider of laundry services to the Leisureworld Homes.

Who works in long-term care?

Women employees.
Most of whom are not regulated, nor trained equally. They deliver the most intimate of care to our loved ones.
According to Long-term care homes legislation : Lessons from Ontario

  • More than 75% of long-term care home beds are occupied by women. 
  • Women = 90% of the hands-on caregivers (professional support workers, physical and occupational therapists, registered practical nurses and registered nurses) and support workers (dietary, laundry, cleaning and clerical staff) who work in long-term care homes. 
  • A majority of residents’ regular visitors are female family members: daughters, sisters, wives and partners.
In my father's long-term care facility, 90% of the residents, I was told, had Power Of Attorney. These are helpless residents, many of them. With visitors few and far between. No one is watching the caregivers.

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