Sands China board rejects shareholder dividend

Board of directors chose not to approve shareholder payout for FY19 due to Covid-19 crisis.

Macau.- Casino operator Sands China revealed in a statement that its board of directors has decided not to recommend paying the shareholders dividend for FY19.

The decision was taken at the board of directors’ meeting, where they discussed the impact of the Coronavirus crisis.

“The company has strong capital, financing and liquidity and remains committed to the execution of its ongoing investments in Macau”, the board said in a statement.

According to the Games Inspection and Coordination Department (DICJ), gross revenues from VIP gaming in the first quarter of this year fell by more than 60 per cent in Macau compared to the same period last year.

VIP revenues in the first three months of the year were MOP14.8 billion (€1.7billion), against 37.2billion patacas (€4.2billion) raised in the first quarter of 2019.