Universal Health Services

Universal Health Services is one of the largest hospital and healthcare facility operators in the United States, running acute-care hospitals and a substantial network of behavioral health centers. Its behavioral health segment gives it a distinctive footprint in a growing area of care, while its acute-care hospitals serve local markets across many states. UHS has paid a dividend for more than two decades, a respectable record of continuity. The yield, however, is very low and the payout small relative to earnings, as the company directs most cash toward buybacks and facility investment. The profile is that of a healthcare operator with a long but token dividend, better suited to total-return investors than to those focused on income.