Genting Malaysia declares 2015 final dividend

Wednesday 13th of April 2016

Casino operator Genting Malaysia Bhd has declared a final single-tier dividend of RM 0.043 (US$0.01) per ordinary share for 2015.

In 2014, the casino operator declared a final single-tier dividend of RM 0.035.

The final dividend is payable on July 26, to shareholders on record as of 4pm on June 30, 2016, said the company in its announcement to the Malaysian Stock Exchange.

In March, Genting Malaysia said it has doubled its planned investment to revamp facilities at its flagship Resorts World Genting property in the Genting Highlands.

The company says it will invest RM 10.38 billion (US$2.46 billion), up from its original plan to spend RM5 billion on the ten-year Genting Integrated Tourism Plan.

The plan was launched in December 2013 and is designed to completely overhaul the ageing facilities at the resort, with the addition of new hotel capacity, shopping and tourism facilities. Analysts have said the plan will be the main driver for growth at Genting for the foreseeable future.

In Y15Q4, Genting Malaysia posted an 11 percent increase in total revenue to RM 2.3 billion, as growth from its operations in the U.S. and Bahamas offset a decline in the U.K. and sluggish growth of just 4 percent in leisure and hospitality at home.

Adjusted earnings before interest, taxation, depreciation and amortisation declined by 14 percent to RM 521.3 million.

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