Casino chip maker GPI nods special dividend

Nov 28, 2017 Newsdesk Latest News, Top of the deck, World  

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Casino currency manufacturer and table layout maker Gaming Partners International Corp on Monday announced a special dividend of US$0.12 per common share to be paid no later than December 22 to shareholders of record as of December 8.

The Nasdaq-listed firm had just over 7.9 million common shares issued and outstanding as of Monday, meaning the aggregate dividend represented a financial commitment of just under US$1 million.

“The dividend… reflects the company’s continued profitability during 2017 and the strong balance sheet at September 30, 2017 which included more than US$12 million in cash,” said Greg Gronau, president and chief executive of GPI in a prepared statement accompanying the announcement of the shareholder payout.

Earlier this month Nevada, U.S.-based GPI said third-quarter net profit had dipped 9.9 percent year-on-year to US$2.2 million. But net profitability improved drastically compared to the second quarter, when it fell nearly 98 percent due in part to an unfavourable timetable for casino venue openings.

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