IGT to pay US$0.11 per share quarterly dividend

Nov 12, 2014 Newsdesk Industry Talk, Latest News  

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Nasdaq-listed International Game Technology (IGT) announced on Tuesday that the board of directors has declared a cash dividend of US$0.11 per share on its common stock.

“This marks the 47th 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 U.S.-based slot machine maker said net income for the three months to September 30 rose 12 percent year-on-year to US$70.9 million. That was on revenue for the quarter that actually fell 15 percent year-on-year to US$536.5 million from US$632.3 million in 2013, the firm reported last week.

In July, Italy-based lottery specialist GTech SpA announced it was acquiring IGT 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. The deal is due to be completed in the first half of 2015.

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