Radius Care announces dividend, reports strong earnings

Radius Care has announced a final dividend for the 2024 financial year and provided guidance on key financial metrics.

The specialist care provider reported a 48% increase in underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) of $21 million, as well as an 89% rise in adjusted funds from operations (AFFO) of $7.5m.

Radius Care also achieved a reduction in net debt, which stood at $73.5m, down 26.5% from the previous year.

The company's strong performance was attributed to factors such as the dedication of its 1,700 team members, higher-revenue occupancy, and successful cost-saving initiatives.

A cash dividend of 0.7 cents per share, with full imputation credits, will be paid on May 16 2024.

Radius Care expects continued growth in FY25 and is targeting a return to its previous dividend payment cycle.

The company will release its full audited financial results in late May.