GGRAsia – Travellers International declares 2014 dividend

Travellers International declares 2014 dividend

May 28, 2015 Newsdesk Latest News, Philippines, Top of the deck

Travellers International Hotel Group Inc, owner and operator of the Resorts World Manila casino property (pictured), on Wednesday announced the payment of a final dividend for 2014 worth PHP1.1 billion (US$24.6 million), or PHP0.07 per share.

The dividend is equivalent to 20 percent of the company’s net profit in 2014, the firm said in a filing to the Philippine Stock Exchange. Travellers International is a venture between Philippines-based Alliance Global Group Inc and Genting Hong Kong Ltd.

The dividend will be payable on June 18, 2015, to those recorded as shareholders as of the close of business on June 11, 2015, the company said.

Travellers International’s net profit nearly doubled for the year ended December 31. Annual profit was approximately PHP5.46 billion in 2014 compared to PHP2.74 billion in 2013, a rise of 98.8 percent.

In Wednesday’s filing, the company said that expansion plans for Resorts World Manila “remain on track”.

Travellers International broke ground in the autumn on the US$1.1 billion Bayshore City Resorts World, which is due to open in the final quarter of 2018.