Wakefield Health cuts dividend
Private hospital operator Wakefield Health Ltd has cut its annual dividend and reported lower earnings in a difficult trading environment.
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Private hospital operator Wakefield Health Ltd has cut its annual dividend and reported lower earnings in a difficult trading environment.
Directors declared a fully imputed final dividend of eight cents per share, payable on June 24 to shareholders on the register at June 17, down from 10 cents per share last year. Directors cited a challenging trading environment and future capital commitments as reasons for the cut.
People were trading down to health insurance policies with less cover in the fragile economic environment, the company said.
It reported a 90.6 percent fall in net profit after tax to $582,000, and earnings before interest, tax, depreciation and amortisation fell by 9.4 percent to $14.78 million.
Revenue fell 1.2 percent and operating expenses rose 1 percent.
NZPA
Mon, 16 May 2011
Mon, 16 May 2011
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Wakefield Health cuts dividend
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