Las Vegas Sands Profit Rises on Asia; $1 Dividend Approved

Las Vegas Sands Corp., the U.S. casino company expanding in Macau, said fourth-quarter profit rose 17 percent on growth in Singapore and China. The company also declared its first common stock dividend.

Net income increased to $320.1 million, or 39 cents a share, from $273 million, or 34 cents, a year earlier, the Las Vegas-based company said today in a statement. Profit excluding some items was 57 cents, matching the average of 23 analysts’ estimates compiled by Bloomberg. The company will pay an annual dividend of $1 a share, according to the statement.

Chairman and Chief Executive Officer Sheldon Adelson said in a September interview the board was considering a payout, as cash generated by growth in Asia outpaces capital needs. Hong Kong-listed Sands China Ltd. said this week it will pay an interim dividend of 58 Hong Kong cents (7.5 cents).

Read Full Article from BusinessWeek

- Posted: 2012-02-01 21:34:04

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