GGRAsia – GEN Malaysia shareholders nod 2017 final dividend

GEN Malaysia shareholders nod 2017 final dividend

Jun 13, 2018 Newsdesk Latest News, Rest of Asia, Top of the deck

The shareholders of Genting Malaysia Bhd have approved the payment of a final, single-tier dividend of MYR0.05 (US$0.0125) per ordinary share for last year. The gaming company said the shareholders approved the dividend at the annual general meeting held earlier this month.

Genting Malaysia declared the dividend in February, when it announced its results for its financial year ended December 31, 2017. The company told Bursa Malaysia it had made a net profit of about MYR1.16 billion last year on revenue of nearly MYR9.33 billion. The year before, the company made a net profit of about MYR2.88 billion on revenue of about MYR8.97 billion. Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) fell by 9 percent last year to about MYR2.21 billion.

Late last month, the casino operator reported a 10.6-percent year-on-year improvement in first quarter profit for this year. Genting Malaysia’s first quarter profit of MYR358.2 million – compared to MYR323.9 million in the same period a year earlier – came from casino operations at Malaysia’s only licensed casino destination, Resorts World Genting (pictured), as well as operations in Britain, Egypt, the United States and the Bahamas.

The group includes gaming revenue in its “leisure and hospitality” revenue, which also covers “hotels, food and beverage, theme parks, retail, entertainment attractions, tours and travel related services and other supporting services”.