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Posts Tagged ‘Wynn Resorts’

The House offers an $8.00 Special Dividend

Wynn Resorts (WYNN) announced today that the Company has approved an $8.00 cash dividend, which includes the $0.50 per common share quarterly dividend. This dividend will be payable on November 20, 2012, to stockholders of record on November 7, 2012 and the stock will begin to trade ex-dividend on November 5, 2012.  Wynn has a current dividend yield of 1.79%.  The $8.00 special dividend is a yield of 6.7%.

Additionally, the Company plans on increasing its quarterly dividend to $1.00 per share in 2013.

Net revenues for the third quarter of 2012 were $1,298.5 million, compared to $1,298.3 millionin the third quarter of 2011. Adjusted property EBITDA  was $402.6 million for the third quarter of 2012, compared to $381.1 million in the third quarter last year, as Wynn Las Vegas’ EBITDA increased $25.3 million.

Long-term growth potential of the Macau market remains solid. We also remain encouraged by the company s strong brand name, healthy balance sheet, strong cash flow position, relatively low capital requirements and its ability to perform in a difficult operating environment.

Wynn Resorts has an equity summary score of 7.3 out of 10 for a Bullish outlook.

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