Sands China to pay stakeholders US$0.13 a share

The company posted a 16.1 percent drop in profits for 2016.
The company posted a 16.1 percent drop in profits for 2016.

Sands China’s board recommended the final dividend of about US$0.13, same amount as last year, which will be paid next June 23.

China.- According to the leading developer, owner and operator of multi-use integrated resorts and casinos in Macao, Sands China, the company’s board has recommended a final dividend of HK$1.00 (US$0.13) per share for 2016, just the same as in the previous year. The dividend will be paid on June 23 to shakeholders on record on June 5.

The company posted a 16.1 percent drop in profits for the full-year 2016 as it collected HK$1.2 billion, down from the HK$1.5 billion (US$193 million) in 2015, as reported in a preliminary announcement of its annual results.

Meanwhile, net revenue was HK$6.65 billion (US$856.4 million), 2.4 percent less in comparison to HK$6.8 (US$875.7 million) for the year ended December 31, 2016, while adjusted EBITDA for the year increased 0.9 percent to HK$2.24 billion (US$288.4 million) compared to HK$2.22 billion (US$285.9 million) in 2015.

Sands China explained that the decrease in net revenues was due to the “overall market slowdown through the third quarter of 2016.”