GGRAsia – Sands China announces final dividend for 2015

Sands China announces final dividend for 2015

Mar 14, 2016 Newsdesk Latest News, Macau, Top of the deck

Macau casino operator Sands China Ltd on Friday said its board had recommended a final dividend of HKD1.00 (US$0.129) per share for the year ended December 31, 2015.

The payout – subject to approval by the firm’s annual general meeting on May 27 – is expected to be paid on June 24. It will be available to shareholders whose names appear on the register of members of the company as of June 3, the company said in a filing to the Hong Kong Stock Exchange.

In January, Sands China’s board announced an interim dividend of HKD0.99 per share.

Net revenues for Sands China – on a U.S.-generally accepted accounting principles (GAAP) basis – decreased 28.3 percent year-on-year to US$6.86 billion in 2015. Net income for the period was down by 43.1 percent from the prior year to US$1.45 billion in 2015.

On Friday, Sands China also announced the resignation of Iain Ferguson Bruce as an independent non-executive director of the company, and as a member respectively of the audit, remuneration and nomination committees. His resignation from the respective roles is with effect from March 11.

“Mr Bruce has decided to resign due to other business commitments that require his full time attention,” said the casino firm.