GGRAsia – Sands China declares 2017 interim dividend

Sands China declares 2017 interim dividend

Jan 19, 2018 Newsdesk Latest News, Macau, Top of the deck

Macau casino operator Sands China Ltd announced on Friday an interim dividend of HKD0.99 (US$0.1266) per share.

The firm said it expects to pay the dividend on February 23 to shareholders whose names appear on the register of members on February 5.

In August, Sands China stated in a filing to the Hong Kong Stock Exchange that profit for the six months to June 30 had increased about 23 percent judged year-on-year, to US$678 million. It added that net revenues in the first half rose 19.5 percent year-on-year, to US$3.70 billion. The firm said such growth was “mainly driven by the opening of the Parisian Macao in September 2016 and the recovery of the Macau gaming market”.

Las Vegas Sands Corp, the parent company of Sands China, announced in October that it would be investing US$1.1 billion in Macau over the next three years. The bulk of that investment – approximately US$700 million – would be used for rebranding the Sands Cotai Central property (pictured) into The Londoner Macao, said Las Vegas Sands.

Sands China president and chief operating officer, Wilfred Wong Ying Wai, said this week that the redevelopment of Sands Cotai Central will begin at the end of this year. The revamp – which will seek to renovate, expand and rebrand the property using iconic symbols of the British capital – was currently in the design stage with regard to changes for the property’s exterior and interior, the executive told local Chinese-language newspaper Macao Daily News.