NagaCorp AGM nods 2020 final dividend for casino op

May 27, 2021 Newsdesk Latest News, Rest of Asia, Top of the deck  

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NagaCorp Ltd, the monopoly casino operator in Phnom Penh, capital of Cambodia, said in a Thursday filing in Hong Kong that its annual general meeting (AGM) that day had approved a final dividend for 2020.

In an April 19 filing, NagaCorp had proposed a final dividend of US$0.0188 per share, which it said would represent a payout ratio of “100 percent, based on the net profit generated for the second half of 2020.”

NagaCorp, operator of the NagaWorld complex (pictured), had said in early March that its full-year 2020 profit had been just above US$102.3 million. It said the result had been supported by a “satisfactory” recovery in the second half of the year, amid pandemic-related disruption.

Such profit was down 80.4 percent compared with nearly US$521.3 million in 2019.

All casinos in Cambodia were ordered to shut down temporarily from April 1 last year, as part of measures to prevent the further spread of the Covid-19 pandemic. NagaWorld had reopened in July of 2020.

By early March this year, operations at NagaWorld had again been paused, after 11 staff tested positive for Covid-19.

There has been no update so far from the company regarding a restart of business.

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