Macau casino operator Sands China Ltd on Friday said its board had approved a final dividend of HKD1.00 (US$0.1288) per share. Sands China said it expects to pay the dividend on June 23 to shareholders whose names appear on the register of members on June 5.
The proposed final dividend is subject to the approval of shareholders at the annual general meeting on May 26, the firm said in a filing to the Hong Kong Stock Exchange.
In January, Sands China’s board had announced an interim dividend of HKD0.99 per share.
Net revenues for Sands China – on a U.S.-generally accepted accounting principles (GAAP) basis – declined 2.5 percent to US$6.69 billion in 2016, compared to US$6.86 billion in 2015. Net income fell by 15.9 percent year-on-year to US$1.22 billion in 2016.
The stock of Sands China offered investors a one-year return of 36.79 percent in 2016, according to Bloomberg data collated by GGRAsia.
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”We expect Goa to quickly become a US$1 billion market as it transitions to land-based casinos (from US$150 million today), which is still just a fraction of India’s total GGR potential of US$10 billion to US$17 billion”
Analyst at Union Gaming Securities Asia