GGRAsia – Sands China declares 2016 interim dividend

Sands China declares 2016 interim dividend

Jan 23, 2017 Newsdesk Latest News, Macau, Top of the deck

Macau casino operator Sands China Ltd announced on Friday an interim dividend of HKD0.99 (US$0.1276) per share.

The firm said it expects to pay the dividend on February 24 to shareholders whose names appear on the register of members on February 8.

In August, Sands China stated in a filing to the Hong Kong Stock Exchange that profit for the six months to June 30 had fallen 25 percent judged year-on-year. It added that net revenues in the first half fell 12 percent, “mainly driven by the overall market slowdown in the Macau gaming industry”.

On a GAAP basis, total net revenues for Sands China increased by 3.6 percent to US$1.72 billion in the third quarter of 2016, compared to US$1.66 billion in the year-ago period. The firm reported net income of US$324.3 million for the period, down 5.5 percent compared to US$343.2 million in the third quarter of 2015.

The stock of Sands China offered investors a one-year return of 36.79 percent in 2016, according to Bloomberg data collated by GGRAsia.

The firm opened its Parisian Macao casino resort, in Macau’s Cotai district, on September 13. Company president and chief operating officer, Wilfred Wong Ying Wai, told media in late December that property performance had been so far in line with company expectations, as Parisian Macao was recording steady growth in mass gaming revenue, fuelled by an increase in visitors.