Healius shares rise on special dividend announcement
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More news: Shares in Healius jumped 14% to $1.50 in early trading on the ASX after the pathology services provider flagged a $300 million special dividend payout and said it would repay existing debt facilities of $680 million following the completion of the sale of its Lumus imaging business.
Healius outlines $300m special dividend on Lumus sale
The news: Pathology services provider Healius has outlined a $300 million special dividend payout following the sale of its Lumus imaging business.
The numbers: Healius said in an investor presentation it would pay shareholders a fully franked special dividend of 41.3 cents per share and franking credit of 17.7 cents per share worth a total $128 million. It will also repay existing debt facilities of $680 million on completion of the Lumus sale and is forecast to have net cash on hand at 30 June.
The context: The sale of Lumus to Affinity Partners, announced last year, is expected to be completed on 1 May. The company expects capex for FY25 to be $36 million, and said future capex is estimated to be $35 million or equivalent to annual depreciation. In a trading update, Healius said its overall volumes year-to-date were up 4% to February, while revenue was up 6.2%. The company said ex-Tropical Cyclone Alfred impacted volumes in Queensland and Northern NSW but did not disclose the financial impact.
The trading update comes after a mixed first-half result in which the company narrowed its net loss and met consensus forecasts.
The source: ASX
