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NagaCorp pays H2 profits to shareholders after 2020 results

NagaCorp said it wanted to reward loyal shareholders.
NagaCorp said it wanted to reward loyal shareholders.

NagaCorp will pay 100 per cent of net profits from the second half of 2020 to thank “loyal” shareholders for their support during the Covid-19 crisis.

Hong Kong.- After reporting net profit of US$101.4m for its 2020 financial year, casino operator NagaCorp has announced a special “Hardship Relief Dividend” for shareholders to mark its rapid recovery from the Covid-19 pandemic.

The casino operator saw a 99 per cent sequential increase in EBITDA and 297 per cent increase in net profit in H2 when compared with the first six months.

The company said: “As a reward to the shareholders who believe in the long-term growth of the Group despite today’s difficult times and in order to alleviate any sufferings, if any, of these loyal shareholders who have stayed on faithfully with us during the Covid-19 crisis, the Board has recommended an unprecedented 100 per cent dividend payout of net profits generated for the second half of 2020 as final dividend for the year.”

The NagaWorld casino complex in Cambodia has had to suspend operations after 11 staff tested positive for Covid-19 last week.

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