ADVFN - Advanced Financial Network.
HOME» NYSE » M » MGM Stock Price » MGM Stock News

M G M Mirage Share News

 Mgm Mirage Stock Price
MGM Stock Price
 Mgm Mirage Stock Chart
MGM Stock Chart
 Mgm Mirage Stock News
MGM Stock News
 Mgm Mirage Company Information
MGM Company Information
 Mgm Mirage Stock Trades
MGM Stock Trades

MGM China Declares Maiden Dividend Of 81.6 Hong Kong Cents For Total Dividend Payout Of HK$3.10 Billion

HONG KONG -(Dow Jones)- Macau casino operator MGM China Holdings Ltd. (2282.HK), 51%-owned by MGM Resorts International (MGM), said Wednesday it would pay 81.6 Hong Kong cents a share, or a total of HK$3.10 billion, as its first dividend since listing in Hong Kong last June. The company's special dividend announcement comes weeks after rival Sands China Ltd. announced plans to pay a dividend. Four of Macau's six gambling operators have now paid or said they would pay dividends, following similar announcements in past years by Stanley Ho's SJM Holdings Ltd. and Wynn Resorts Ltd. unit Wynn Macau Ltd. MGM China's 2011 net profit doubled to HK$3.28 billion from HK$1.57 billion, boosted by strong growth in casino gambling revenues, which rose to HK$19.97 billion from HK$12.13 billion. Analysts have said that dividend payments to shareholders aren't standard in the casino industry, because companies generally still prefer to spend cash on new growth opportunities. Nonetheless, they say companies are increasingly under pressure to add or raise dividends as the industry matures. Though the dividend payments are evidence of operators' improving cash flow, fueled by explosive gambling revenue growth in Macau, they could also be seen as evidence that there aren't immediate prospects for new development, according to analysts. -By Hong Kong Bureau, Dow Jones Newswires; 852-2802-7002;

Stock News for M G M Mirage (MGM)
11/25/201514:40:02The Best Stock in Gaming Today
11/25/201510:00:00MGM Resorts Employees Raise Food for Three Square Food Bank
11/21/201510:09:02Macau Government Gives Grim Outlook for Gaming
11/19/201517:46:00MGM Resorts Named One of the "Best Places to Work for LGBT Equality";...
11/19/201516:55:35Statement of Changes in Beneficial Ownership (4)
11/17/201507:00:00Beau Rivage Resort & Casino Announces Holiday Events And Entertainment
11/16/201518:15:03Las Vegas' New Mega-Resort Is a Big Risk For The Strip
11/12/201518:40:10Statement of Changes in Beneficial Ownership (4)
11/12/201517:00:03Is Now the Right Time to Buy Las Vegas Sands?
11/11/201507:00:00MGM Resorts International to Host More Than 70 Wounded Warriors...
11/10/201510:00:17Gaming Stocks Are on a Tear -- Here's Why
11/09/201517:38:40Statement of Changes in Beneficial Ownership (4)
11/09/201517:28:48Statement of Changes in Beneficial Ownership (4)
11/09/201517:27:02Statement of Changes in Beneficial Ownership (4)
11/09/201517:22:44Statement of Changes in Beneficial Ownership (4)
11/09/201517:20:05Statement of Changes in Beneficial Ownership (4)
11/09/201517:18:25Statement of Changes in Beneficial Ownership (4)
11/09/201517:17:32Statement of Changes in Beneficial Ownership (4)
11/09/201517:15:48Statement of Changes in Beneficial Ownership (4)
11/09/201508:00:03MGM REIT: Right Move or Smoke and Mirrors?

M G M Mirage and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations