Extendicare Inc., the seniors' care company with its head office in Markham, is raising its monthly dividend by 5 per cent after a year in which its home health care business grew quickly.

The company released its fourth-quarter and full-year 2025 results on Feb. 26. The new monthly dividend of 4.41 cents per share takes effect with the dividend to be declared in March. It follows a 5 per cent increase a year earlier.

Home care leads the gains

Extendicare runs its home care business under the ParaMed name. The company said ParaMed's average daily volume reached 39,440 in the last three months of 2025, up 27.3 per cent from the same period in 2024. That includes 15.3 per cent organic growth, with added volume from its purchase of the home care provider Closing the Gap. Home health revenue rose 33.6 per cent to $197.5 million for the quarter.

Revenue from long-term care rose 10.8 per cent to $249.3 million, helped by homes Extendicare bought from Revera earlier in 2025. Average occupancy in its long-term care homes held steady at 98 per cent.

Based on our positive growth trajectory and the strength of our balance sheet, we have increased our dividend by 5% again this year.

— Dr. Michael Guerriere, president and CEO, Extendicare

CBI deal expected this spring

The company expects to complete its $570-million purchase of CBI Home Health early in the second quarter of 2026. The deal still needs approval under the federal Competition Act and consent from bodies including Ontario Health atHome and Assisted Living Alberta. CBI Home Health operates in seven provinces and has about 8,500 staff.

To help pay for it, Extendicare raised about $200 million through a private placement of shares in December and secured a commitment to increase its credit facility by $214.5 million. It reported $347.9 million in cash at the end of 2025, not counting restricted cash.

A large employer based in Markham

According to the company, Extendicare operates 99 long-term care homes across Canada, owning 59 and managing 40 under contract. It also delivers about 14 million hours of home care a year and employs roughly 28,000 people.

Not every part of the business grew. Revenue at Extendicare Assist, which manages homes for other operators, fell 18.9 per cent to $15.3 million in the quarter. The company said this was mainly because Revera sold 30 older homes that Extendicare Assist had been managing, nine of which Extendicare bought itself. Its SGP Purchasing Network, a group buying service for other care providers, now serves about 153,600 beds, up 5 per cent from a year earlier.

Extendicare trades on the Toronto Stock Exchange under the symbol EXE. It scheduled a conference call on the results for Feb. 27.