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; djnews.hk@dowjones.com

Stock News for M G M Mirage (MGM)
DateTimeHeadline
06/26/201519:05:45Amended Statement of Changes in Beneficial Ownership (4/a)
06/26/201519:02:57Amended Statement of Changes in Beneficial Ownership (4/a)
06/23/201507:00:00National Top Speaker, Patricia Russell-McCloud, Featured Keynote...
06/22/201517:36:00MGM Resorts International Announces General Manager of Beau Rivage...
06/22/201514:02:00MGM Resorts Named One Of America's Most Reputable Companies In...
06/17/201515:00:05The Best Stocks to Watch in Casinos
06/16/201514:23:08Amended Statement of Beneficial Ownership (sc 13d/a)
06/16/201511:44:00In Memoriam: MGM Resorts International Founder Kirk Kerkorian...
06/14/201512:45:02The Most Hated Casinos in America
06/12/201517:16:55Current Report Filing (8-k)
06/12/201517:14:22Current Report Filing (8-k)
06/12/201508:30:00MGM Resorts International Subsidiary MGM China Holdings Limited...
06/10/201508:30:00MGM Resorts International to Present at the Barclays High Yield...
06/09/201515:00:08Is Macau in Big Trouble or About to Turn a Corner?
06/08/201519:42:02Investing in Las Vegas Is About More Than Games of Chance
06/06/201510:00:04Is Another Las Vegas Mega-Deal in the Works?
06/02/201517:21:44Current Report Filing (8-k)
06/02/201516:00:03Down and Out: Where Does Macau Go From Here?
05/31/201508:07:02Las Vegas Casinos Challenging Warren Buffett's Energy Company
05/30/201516:25:03Las Vegas Wants an NHL Team -- MGM Resorts Investors Should...

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

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad