Oceania Healthcare adjusts dividend policy, focuses on growth

Oceania Healthcare held its annual shareholders meeting on August 25, 2023.

The chairman thanked the team, partners, and shareholders for their support during a challenging year.

The company adjusted its dividend policy to a payout ratio of 30-50% of underlying net profit after tax to manage debt and pursue growth opportunities.

Oceania declared a final dividend of 1.3 cents per share, reflecting a solid performance.

The company's focus is on strategic capital management and cash generation.

The chairman highlighted the demographic change in New Zealand, with an aging and urbanising population, presenting opportunities for the sector.

The company is addressing sustainability and climate change through a dedicated Sustainability Committee.

Oceania is also advocating for government funding reform in the aged care sector.

The chairman expressed confidence in the company's resilience and future value.