Wynn Macau announces 2016 final dividend

Casino operator Wynn Macau has announced payment of a final dividend of HK$0.42 per share for the year ended Dec. 31, 2016.

The company made the announcement in a recent filing to the Hong Kong Stock Exchange, noting that the payment of the final dividend is conditional on shareholder approval at the 2017 Annual General Meeting, which will be held on Thursday, June 1, 2017.

Earlier this year, the operator posted a 40 percent year-on-year decline in 2016 net profit, but posted higher revenue, driven by VIP gaming at its new Wynn Palace Resort.

In a preliminary results filing to the Hong Kong Stock Exchange on Thursday, the operator noted that it achieved net profit of HK$1.4 billion (US$180.2 million) for the year ended Dec. 31, 2016, compared to HK$2.4 billion in 2015.

Operating revenues increased by 16 percent from HK$19.1 billion in 2015 to HK$22.1 billion in 2016, operating costs and expenses increased 15 percent to HK$10 billion.