Sleep disorder equipment supplier ResMed will begin paying dividends next financial year.
ResMed said on Friday it will pay a quarterly dividend of 17 US cents per 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 which improve breathing for people who snore 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 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 committed to his position until the end of calendar 2013.