Oceana declares generous dividend as diversified portfolio pays off
The group skipped dividend payment in 2017 but revived it in 2018 financial year due to strong growth
Fishing giant Oceana Group erased the bitter memories of a skipped final dividend in the 2017 financial year by declaring a generous final distribution of 304c/share. Oceana nets most of its profits from canned fish brand Lucky Star as well as fish oil and fish meal operations. The final dividend brings total payout for the year to end September to 416c per share, pushing Oceana’s yield close to 5%. Recently appointed CEO Imraan Soomra said the group’s consistent focus on driving sales, improving efficiencies and managing foreign currency exposure were paying dividends. He said growth in 2018 was once again a function of the strength of Oceana’s diversified portfolio. The star of the show was Oceana’s Louisiana-based Daybrook Fishing operations, which experienced a record seasonal catch of 803-million fish (2017: 735-million) in the 2018 Gulf menhaden fishing season that stretched from April to the end of October. Soomra attributed the strong catch rate to a combination of good nutr...
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