Melco approves final dividend for shareholders

Melco had suspended its quarterly dividend programme after reporting a US$364 million net loss in the first quarter.

Hong Kong.- Melco International Development has approved a motion to pay out a final dividend for the year ending December 31 2019.

According to a note sent to the Stock Exchange of Hong Kong, the decision taken at the company’s international annual meeting was almost unanimous.

The final dividend amounts to around HKD45.6 million (US$5.88 million).

The payment was of HKD0.0301 per share, to be paid on July 2, GGRAsia reported.

Melco had suspended its quarterly dividend programme to preserve liquidity and to continue investing in the business after reporting a US$364 million net loss in the first quarter of 2020 due to the impact of coronavirus measures.

The company’s annual general meeting also approved the re-election of Lawrence Yau Lung Ho, Clarence Chung Yuk Man and Ching Wo Ng as executive directors, and the board was authorised to fix their remunerations.