Macau gaming operator MGM China has proposed a final dividend of HK$0.251 ($0.032) per share for the year 2024.
In a Thursday filing, the company disclosed that the total payout is expected to amount to approximately HK$953.8 million ($122.7 million).
The proposed dividend represents roughly 20.7 percent of the group’s profit for the year.
MGM China reported a 74.5 percent increase in profit for 2024, reaching HK$4.6 billion ($592 million). The firm’s adjusted EBITDA also rose 25.2 percent year-on-year to nearly HK$9.06 billion ($1.17 billion). Total revenue climbed 27.2 percent from 2023 to just under HK$31.39 billion ($4.04 billion).
The company stated that the final dividend is scheduled to be paid on or about June 12 to shareholders listed on its register of members as of June 3. The payout remains subject to shareholder approval.
‘The board has resolved to recommend the final dividend after considering the group’s overall financial position, cash flow, capital requirements, and other relevant factors,’ the company explained.
Notably, in August last year, MGM China declared a special dividend totaling over HK$1.34 billion ($172 million). The company had resumed dividend payments in March 2023 after suspending them due to the impact of the pandemic on Macau’s gaming sector.
