Embark Early Education issues strong trading statement, confirms dividend

Embark Education Group has provided an update on current trading across its Australian network as well as dividend guidance ahead of its half year results that will be released 29 August 2023.

“We are pleased to be in a position to deliver a strong trading update and a solid 2022 dividend. Our focused strategy, engaged team and extensive experience are yielding good outcomes for the Group,” Chris Scott, Managing Director said. 

Further to its 2 May 2023 announcement, Embark has confirmed that its network of 24 centres continues to trade strongly with year on year occupancy in June at 85.0 per cent, up 4.3 per cent compared to the same period last year.

Embark has managed to sustain solid like for like occupancy growth since early January 2023 when it recorded occupancy of 74.0 per cent, up four percent from 2022.  

The Board has also resolved to pay a dividend of AUD0.02 per share for the financial year ended 31 December 2022 with fully franked credits attached to the dividends.

The ex-div date for the dividend is 19 July 2023 and the record date for the dividend is 20 July 2023.