Clarent Hospital (Houston) said that the company's board approved payment of a liquidating cash distribution to stockholders of 10 cents per common share. The distribution is payable on Oct. 31, 2008 to stockholders of record on Oct. 25, 2008.

The board also approved the transfer of all the company's remaining assets and liabilities to a liquidating trust at the conclusion of its dissolution wind down period. This is expected to occur on Dec. 20, 2008. Shareholders of record on Dec. 19, 2008 will receive an interest in the liquidating trust pro rata to their interests in the common stock on that date.