Oceania Healthcare withholds final dividend for growth

Oceania Healthcare has announced that it will not be paying a final dividend to shareholders.

The decision was made to allow for ongoing investment in the company's growth and portfolio transformation.

Oceania's directors resolved not to pay the dividend after considering factors such as cash flow, market conditions, and continued growth opportunities.

The company also highlighted that strategic capital management remains a core focus.

In addition, Oceania said it welcomed the reviews and scrutiny on the industry, as it has always adopted best practice in business operation and contracting.

The announcement was made during the company's annual shareholders meeting.

Oceania provides retirement and aged care living services, with a team of almost 3,000 members and 4,100 residents.