Embark Early Education (ASX: $EVO) acquisition, dividend, and debt funding announcement

Embark Early Education Limited (ASX: $EVO) has announced the execution of conditional contracts for the acquisition of nine childcare centres. The company has also declared an interim dividend of AUD0.015 per share for the second half of FY2023, fully franked, with the ex-dividend date set for 5 March 2024 and the payment date for 26 March 2024. Additionally, Embark has secured a bank Credit Approved Facility for $20m based on past financial performance, which would be available for further acquisitions.

Executive Commentary

The Board of Embark Early Education Limited is pleased to announce the acquisition of nine childcare centres, which aligns with our strategic growth plans. The addition of these centres will significantly expand our footprint and enhance our ability to provide high-quality early education and care services to more families. Furthermore, the declaration of an interim dividend reflects our commitment to delivering value to our shareholders. The bank Credit Approved Facility for $20m provides us with the financial flexibility to pursue additional growth opportunities and further strengthen our position in the market.

Summary

Embark Early Education Limited (ASX: $EVO) has taken a significant step towards expansion with the acquisition of nine childcare centres, demonstrating its commitment to strategic growth. The declaration of an interim dividend of AUD0.015 per share, fully franked, underscores the company's dedication to delivering value to its shareholders. Moreover, the receipt of a bank Credit Approved Facility for $20m based on past financial performance positions Embark to pursue further acquisitions, supporting its growth trajectory. The company's proactive approach to expansion and shareholder value reflects its strong corporate strategy and commitment to delivering quality early education and care services.