Melco Intl shareholders confirm US$5.9mln final dividend

Jun 08, 2020 Newsdesk Latest News, Macau, Top of the deck  

---

The shareholders of Hong Kong-listed Melco International Development Ltd have approved the payment of a final dividend amounting in aggregate to approximately HKD45.6 million (US$5.88 million), the company announced.

The dividend payment – referring to the year ended December 31, 2019 – was approved during Melco International’s annual general meeting, held on Friday. The payment was of HKD0.0301 per share, it said. The payment date for the dividend, as proposed, would be July 2.

Melco International is the parent of United States-listed casino operator Melco Resorts and Entertainment Ltd. The latter runs gaming and hotel operations in Macau, the Philippines and Cyprus.

The parent company said last month it had suspended its “semi-annual dividend” programme due to “current conditions” related with the impact on the group’s business from the Covid-19 pandemic.

The decision to suspend the parent’s payouts was taken after “assessing the financial and cash flow position of the group, and having taken into account the suspension of Melco Resorts’ dividend programme,” said Melco International at the time.

Melco Resorts had stated earlier that it would stop for the time being issuing a quarterly dividend, saying that move would conserve about US$80 million in capital per quarter.

---

---