Subtitles with UI

Not sure if I'm posting this in the correct place, but here goes.

Before Unity 4.6, you could create text by using GUI.Label(). With the new UnityGUI, you can make text. I was wondering the best way to utilize this to add subtitles to my game. I want them to show up centered and at the bottom of the screen. I also want them to be timed so that they come on, stay long enough to be read, then leave. If anyone wants to provide code or links, I'd prefer code to be in C# if possible. I'm very new to Unity so please excuse me if my question comes off like that.

Thanks!