Two Macau casino operators announce dividends
Dividends will be paid for the first time since the Covid-19 pandemic.
Macau.- Contrary to market expectations, two Macau casino operators will pay annual dividends. It will be the first time since the 2019 trading year preceding the Covid-19 pandemic.
MGM China Holdings has declared a final dividend for the fiscal year 2023 totalling HK$0.243 (US$0.0307) per ordinary share, payable on June 20, along with a special dividend of HK$0.104 per share payable on April 12. Wynn Macau has announced a final dividend of HK$0.075 per share.
Analysts at JP Morgan Securities (Asia Pacific) described the announcement as unexpected. They suggested that the payouts signify a shift in financial strategy.
In February, analysts at Jefferies had forecast that Galaxy Entertainment Group was likely to be the only Macau casino operator to issue dividends in 2024, while Fitch Ratings predicted that Sands China may resume dividends in 2026.
