Casino operator Wynn Macau Ltd on Wednesday said it would pay a special dividend of HKD1.05 (US$0.14) per share to shareholders whose names appear on the register of the company as of March 23.
The special dividend will be paid on March 31, the firm said in a filing to the Hong Kong Stock Exchange.
Wynn Macau said the register of members would be closed from March 19 to 23, “for the purpose of determining the identity of members who are entitled to the special dividend”. During that period “no transfer of shares of the company will be effected,” it added.
Analysts at UBS Securities Asia Ltd said on Tuesday they had expected Wynn Macau to announce the special dividend.
“Overall, we think cash returned from the sector did not disappoint for fiscal year 2014,” wrote analysts Anthony Wong and Angus Chan.
Las Vegas-based Wynn Resorts Ltd, the parent company of Wynn Macau, in February reported global net revenues of US$5.43 billion for the full year 2014, down 3.3 percent from US$5.62 billion in 2013.
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"This decision [regarding the concession extension] strengthens our capacity to finance the business. We have a whole series of different scenarios we are now working through"
Chief executive of Macau casino operator MGM China Holdings