Wynn Macau: To Pay Special Dividend Of HK$1.20 Per Share

Date : 11/17/2011 @ 7:46PM
Source : Dow Jones News
Stock : Mgm Resorts International (MGM)
Quote : 34.03  0.3 (0.89%) @ 6:15PM

Wynn Macau: To Pay Special Dividend Of HK$1.20 Per Share

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Wynn Macau Ltd. (1128.HK) said Friday it would pay a special dividend of HK$1.20 per share, marking the second time the Hong Kong-listed casino operator has declared such a payout.

Those who hold shares through Dec. 7 will be eligible for the special dividend, which is expected to be paid on Dec. 19, the company said in a statement.

Last November Wynn Macau declared a special dividend of 76 Hong Kong cents per share, and said it would consider paying recurring dividends with a target yield of 1%-3% per year. SJM Holdings Ltd. (0880.HK) is the only other Macau casino operator to have ever paid dividends, though analysts have said other operators such as Sands China Ltd. (1928.HK) and MGM China Holdings Ltd. (2282.HK) could also start paying dividends in coming years.

-By Kate O'Keeffe, Dow Jones Newswires; 852-2802-7002; kathryn.okeeffe@dowjones.com

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