Wynn Macau announces cash dividend
Wynn Macau will pay a final dividend of HK$0.185 (US$0.0244) per share.
Macau.- Wynn Macau has announced a cash dividend of HK$0.185 (US$0.0244) per share for the year ending December 31, 2024. The dividend will be payable on June 11 to shareholders registered as of June 2.
JP Morgan analysts DS Kim and Selina Li noted that the decision brings Wynn Macau’s total annual dividend per share to HK$0.26. Including an interim dividend of HK$0.075, this means a payout ratio of 43 per cent.
Analysts said that Wynn maintained a stable market share throughout 2024, suggesting that its assets still resonate well with its core patrons even with competition from “newer/bigger products from peers.” JP Morgan believes this is a positive sign for long-term earning potential.
For the fourth quarter of the year, the casino operator posted operating revenue of US$160.8m, down 5.3 per cent in year-on-year terms but up 12.1 per cent quarter-on-quarter. The company posted US$292.8m in adjusted property EBITDAR (adjusted earnings before interest, taxation, depreciation, amortisation and rent). The figure was down 1.4 per cent year-on-year but up 11.4 per cent sequentially.
For full-year 2024, Wynn Macau recorded operating revenue of US$3.68bn, up 18.77 per cent year-on-year. Wynn Palace contributed US$2.22bn, up 17.5 per cent year-on-year, while Wynn Macau brought in US$1.46bn, up 20.7 per cent. Both properties saw yearly rises in casino revenue, up by 22 per cent in Cotai to US$1.79bn and by 26.8 per cent on the peninsula to US$1.23bn. Wynn’s Macau properties saw a 23.23 per cent increase in year-on-year terms in adjusted property EBITDAR, reaching US$1.17bn.
