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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; djnews.hk@dowjones.com

Stock News for M G M Mirage (MGM)
DateTimeHeadline
02/17/201717:50:25Statement of Changes in Beneficial Ownership (4)
02/17/201714:10:18Amended Statement of Beneficial Ownership (sc 13d/a)
02/17/201709:00:00MGM Resorts International Ascends the Fortune List of "World's...
02/16/201717:02:31Current Report Filing (8-k)
02/16/201708:00:00MGM Resorts Inks Historic Meetings Deal With Microsoft
02/16/201707:56:30Current Report Filing (8-k)
02/16/201707:40:00MGM Resorts International Reports Fourth Quarter And Full Year...
02/15/201718:13:41Statement of Changes in Beneficial Ownership (4)
02/15/201711:00:00Skill-based Frogger Competition Leaps Into MGM Grand's Premier...
02/14/201710:54:35Amended Statement of Ownership (sc 13g/a)
02/13/201718:00:57Statement of Changes in Beneficial Ownership (4)
02/13/201717:31:22Amended Statement of Ownership (sc 13g/a)
02/13/201716:38:38Amended Statement of Beneficial Ownership (sc 13d/a)
02/10/201709:14:53Amended Statement of Ownership (sc 13g/a)
02/07/201712:18:57Amended Statement of Ownership (sc 13g/a)
02/06/201709:00:00The MGM Resorts Foundation Announces the 2017 Women's Leadership...
01/26/201713:26:00MGM Resorts International Honored for its Support of Women-owned...
01/25/201715:54:00Borgata Hotel Casino & Spa Announces May Opening Of Central Conference...
01/17/201708:30:00MGM Resorts International Announces Fourth Quarter And Full Year...
01/17/201706:30:11Current Report Filing (8-k)

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