Shareholders at Genting Singapore Ltd approved on Monday, at its annual general meeting (AGM), payment of a final dividend for the 2024 trading year.
It is a one-tier tax-exempt payment of SGD0.02 (US$0.015) per ordinary share, as previously indicated by the company.
Genting Singapore runs the Resorts World Sentosa casino resort in Singapore. The group had flagged the final dividend at the time of its full-year results, issued in February.
Genting Singapore posted annual net profit of nearly SGD578.9 million for full-year 2024, down 5.4 percent from the prior year. That was on revenue that actually rose 4.7 percent year-on-year, to just below SGD2.53 billion.
At Monday’s AGM, stockholders also approved 3.49 million share awards among a total of five directors.
The bulk of them – a total of 2.99 million – was awarded to Tan Hee Teck, Genting Singapore’s chief executive.
The awards for Mr Tan were based on “predetermined performance targets for the financial year ended 31 December 2024 which have been achieved,” said a Monday filing to the Singapore bourse.
It added those share awards would vest in the first quarter 2026, and were “subject to Mr Tan remaining in service at the point of vesting”.
The vesting of the share awards to the independent non-executive directors was “subject to satisfaction of service condition of one year from date of grant,” and them “being in service at the point of vesting,” added the filing.
Mr Tan has also been CEO of Resorts World at Sentosa Pte Ltd – the entity running the group’s Singapore casino complex – since January 2007. He has also been chairman of the operating unit since February 2015, according to Genting Singapore’s corporate website.
