Anti-snoring masks to start paying off
SLEEP disorder equipment supplier ResMed will begin paying dividends next financial year.
ResMed said yesterday it would pay a quarterly dividend of US17¢ a share from the first quarter of 2012-13, with its Australian shareholders to receive the Australian dollar equivalent.
ResMed makes a range of sleep masks that improve the breathing of snorers and those with sleep apnoea, and is listed on the Australian Securities Exchange (ASX) and the New York Stock Exchange. Chief executive Peter Farrell said the company had been using its cash for research and development, and to repurchase some of its shares.
''Even with these investments, we have sufficient funds for strategic opportunities and to operate our business and therefore, we are initiating a dividend for our shareholders,'' he said in a statement.
Meanwhile, Mr Farrell has made a commitment to remain in his job until the end of calendar 2013.