Extendicare attributed the increase, in part, to government funding provided to help with COVID-19 outbreaks.
The chair of Extendicare’s board Alan Torrie told investors the company has no plans to cut dividends at its “The expense we incurred was about $700,000 of incremental expenses of which $400,000 was covered with some of the early funding we received in Ontario,” Bacon said.A spokesperson for Ontario’s Minister of Long-Term Care Merrilee Fullerton did not respond to HuffPost’s questions by deadline. A government spokesperson previously saidin emergency funding to help homes with needs like hiring and retaining staff during the pandemic.
As of Wednesday, 7,900 deaths have been linked to the disease. Its impact has disproportionately affected older Canadians.
There is a good argument to privatize LTC facilities, but not one for why investors shouldn’t receive dividends. Ultimately, they’ve used their savings, to provide working capital for LTC’s to operate, and deserve a return.
theJagmeetSingh Totally disgusting making profit from death.
theJagmeetSingh Old people in homes are big business, the people at the take their pensions , not much money left for their care
theJagmeetSingh How does the NDP & theJagmeetSingh not get any coverage by Corp media and corporate captured CBCNews, when they are the only ones saying anything of tired of Trudeau’s platitudes, punctuated with inanities & ums & aws. DoBetterCBC
theJagmeetSingh So our tax dollars are considered a corporate profit Get that money back JustinTrudeau and fordnation long term care providers should not be profiting from the deaths of its residents.
theJagmeetSingh omg !!!