Cambian (CMBN) has declared a maiden dividend of 1.8p a share, fulfilling a promise it made to investors prior to its IPO nearly 12 months ago. The care-home provider had a good year, with the average occupancy rate flat at 80 per cent despite a 27 per cent increase in capacity.
IC TIP:
Hold
at
220p
That pushed adjusted cash profit up 18 per cent to £48.4m, 2 per cent ahead of consensus forecasts, giving a margin of 20.1 per cent, up from 19.2 per cent in 2013. Predictably enough, however, this progress was disguised in the reported numbers by £22.3m in one-off and IPO-related charges.