Genting Singapore confirms final dividend for 2015

Genting Singapore has confirmed a final dividend of SGD0.015 (US$0.01) per share for the year ending Dec. 31, 2015.

The exclusion date for the dividend is May 5, 2016, with payment of the dividend, if approved by the shareholders at the upcoming AGM, will be made on May 19.

In February, Genting Singapore reported net profit at S$193.1 million for the year ending Dec. 31, 2015, down 70 percent from S$635.2 million.

Revenue for the year was reported at S$2.4 billion, down 16 percent from S$2.9 billion in 2014 and an adjusted EBITDA of S$915 million.

Morgan Stanley in a note on April 25, said Genting Singapore had outperformed the  Straits Times Index by 10 percent YTD on expectation of increased dividend, lower receivable, less bad debt provision, and stable mass.