Philippines-listed Premium Leisure Corp says its board of directors declared a cash dividend of PHP0.05024 (US$0.00097) per share, up 14.4 percent from a year earlier.
The latest announced dividend represents a payout totalling approximately PHP1.59 billion, the firm said in a Friday filing to the Philippine Stock Exchange. The dividend will be paid on March 22 to shareholders of record as of March 8.
Premium Leisure Corp is 78.7-percent owned by Philippine conglomerate Belle Corp. The latter is entitled to receive – via its subsidiary Premium Leisure Corp – a share of the gaming income at City of Dreams (CoD) Manila, (pictured) a casino property operated in the Philippine capital by a unit of Asian gaming operator Melco Resorts and Entertainment Ltd.
Belle Corp said in November that its net profit for the first nine months of 2018 increased 1.2 percent year-on-year to PHP2.20 billion, compared to PHP2.17 billion a year earlier. That was despite a 17 percent decline year-on-year in third-quarter net profit.
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"We hope that the earnings power of that building [the Londoner], when we are finished, can rival that of the Venetian [Macao]"
Senior vice president of investor relations at casino operator Las Vegas Sands