a couple of points to dibah420:

(1) Why waste time on boards where you have no interest in investing?  it dilutes one's investment returns when one just uses a board to pontificate on how the state should nationalize multiple additional industries, despite Ontario already running one of the worst fiscal situations around (and that was prior to Covid).   Focus on ideas that you believe can make you money.   

(2) The population’s share of seniors is expected to grow dramatically, from 16% in 2014 to 23% in 2030, with “young seniors” 65-74 reaching 12% of the population by 2030 and a material increase in +74 age bracket, which drives demand for LTC.   Under 20% of seniors require any kind of LTC before age 75, but by 85, disability rates increase and more than 50% require homecare or institutionalized.  Over half of all nursing home stays are for those Canadians over 80.   Total LTC costs are expected to double from $60 billion in 2010 to $120 billion in 2030 (with institutional increasing from $20 to $40 billion).  Informal and Formal Home Healthcare comprise the remainder, with the former being the largest piece.  

This is untenable to suggest that the state can undertake the building of the these facilities and the operations required to support this growth.   Private and public capital have worked together to grow the footprint for elderly Canadians.  With 38,000 people still on the waiting list in Ontario, even this partnership hasn’t kept up with demand. 

Dividend policy by the LTC providers are a function of their status of REITs (which dictate that a minimum amount of AFFO must be paid out).   This has allowed REITs in Canada to raise money from pension funds (some of which invest government employee funds) and institutional investors at reasonable rates in order that the REITs can build new capacity and generate a reasonable return (these are not high return on capital businesses).  Does the Ontario Teachers Pension Fund want Sienna to generate a reasonable return and return capital to them which they can subsequently invest?   Of course.  

And finally, Covid is a once in a generation scourge which targeted the weak, frail and the elderly, unlike the Pandemic of 1918 (which targeted 18-30 year olds).   There has been outbreaks at LTC facilities and deaths all around the world, which is tragic but certainly not preventable (if the government was running everything).   A nationalization of LTC facilities both isn’t legal and just won’t happen, given the need for tens of billions in new funding for facilities for our growing elderly populace, and most of this will come from pension funds and other institutions (or everyday Canadians investing in mutual funds whose managers participate in REIT money raising deals).   The existing system may not be perfect, but levels of care in Canada (look up nursing hours per patient in LTC worldwide) compare favourably to most of the G8 countries…

Good luck...