GGRAsia – IGT declares US$0.11 quarterly dividend

IGT declares US$0.11 quarterly dividend

Aug 21, 2014 Newsdesk Industry Talk, Latest News, Top of the deck

U.S.-based gaming supplier International Game Technology (IGT) on Wednesday declared a quarterly cash dividend of US$0.11 per share.

That is a 10-percent increase compared to the dividend paid in the same quarter last year.

This marks the 46th consecutive quarter that the company has paid a dividend, which is currently the “longest streak in the gaming industry”, IGT said in a statement.

The dividend is payable on October 3 to shareholders of record on September 18.

IGT reported net income of US$72.1 million for the three months ended June 30, compared to US$65.7 million in the same period last year.

The firm announced last month that it is being bought by Italian GTech SpA for US$6.4 billion, comprised of US$4.7 billion in cash and stock, and the assumption of US$1.7 billion in net debt.

Earlier this month, IGT and Macau-based casino multi-game manufacturer LT Game Ltd announced a three-year distribution agreement for North America and Macau. Under the terms of the agreement, IGT will distribute LT Game’s live and electronic table game systems in the U.S. and Canada, while LT Game will serve as distributor for IGT’s slot machines in the Macau market.