Arvida pauses dividend to ‘unlock intrinsic value’ for shareholders

Jeremy Nicoll has been Arvida's chief executive since October 2021. (Image: Supplied)

Tue, 28 May 2024

Despite a record sales performance, Arvida has paused dividends and launched a “value recognition programme” to “accelerate intrinsic value for shareholders”.Arvida's shares were up 4.2% to $1 at 1pm in Wellington after the full-year result to March 31. The retirement living and aged care provider’s net profit rose 69% to $139 million in the 2024 financial year. Underlying profit, the company’s preferred measure, fell 3% to $85m.This discrepancy was caused by a record $164.6m gain on the fair va...

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