Community Psychiatric Centers Declares a Dividend

Community Psychiatric Centers has declared a one-time, one-cent dividend, payable March 15, to shareholders of record on March 1. The dividend is designed to make Community Psychiatric more appealing to institutional shareholders who invest in companies that pay dividends, said Richard L. Conte, Community Psychiatric chairman and chief executive.

The Laguna Hills company suspended its regular quarterly dividend in 1993 to help fund a new, long-term critical care subsidiary. The one-time dividend “does not reflect any deviation from the company’s growth strategy,” which calls for an aggressive expansion, Conte said. Community Psychiatric provides psychiatric and long-term critical care through 60 separately licensed facilities.