Boyd Gaming (NYSE: BYD) announced Th that it’s increasing its quarterly dividend by 6.3%, rising to 17 cents a apportion from 16 cents.
The payout hiking implies a forrad dividend give in of 1.06%, upwards from the current raze of 0.99%, based on the stock’s stream price. Shares of Boyd were higher past almost 1.50% on the intelligence inwards midday trading. The gaming make is upwardly 3.66% twelvemonth to date.
The dividend is payable Apr 15, 2024, to shareholders of track record at the tightlipped of business on Mar 15, 2024,” according to a statement issued past the Las Vegas-based regional cassino operator.
At the death of 2024, Boyd Gaming had hard currency on deal of $304.3 million, indicating it has the financial resources with which to living shareholder rewards. The operator’s salient debt stood at $2.9 billion at the ending of cobbler's last year.
Boyd Extends Favorable Dividend Trajectory
It’s been almost deuce years since Boyd reinstated its every quarter payout following a respite used as a cost-conserving run during the pip days of the coronavirus pandemic.
Since that reinstatement, the Orleans manipulator has boosted its dividend twice — one time past 6.66% in February 2023, and the step-up announced today. That could be a signal the gaming accompany has the potential to be a believable dividend growing stock.
Boyd has also shown allegiance to other shareholder rewards. In the fourth quarter, Boyd repurchased $100 billion inward shares of its vernacular stock, leaving it with $326 meg from a previously announced share buyback plan.
Boyd runs 10 gaming venues inwards its nursing home market, including Aliante, California, Cannery, Fremont, Gold Coast, Jokers Wild, Main Street Station, Sam’s Town, Suncoast, and The Orleans. It also operates regional casinos in Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.
Other Bullish Dividend News inward Gaming Industry
The dividend growth announced past Boyd on Th is the modish inwards a cosmic string of supporting payout intelligence from the gaming industry. Earlier this week, Gaming and Leisure Properties (NASDAQ: GLPI), ane of the largest cassino landlords, said it’s rearing its every quarter dividend to 76 cents per part from 73 cents, extending a lengthy pass of dividend increases.
On Feb 7, Red River John Rock Resorts (NASDAQ: RRR) proclaimed a special dividend of $1 per share, its thirdly since November 2021. That’s inward improver to the gambling casino operator’s steady quarterly distribution.
Among publically traded land-based cassino operators, the companies that don’t currently make up quarterly hard currency dividends are Caesars Entertainment (NASDAQ: CZR), Century Casinos (NASDAQ: CNTY), Golden Entertainment (NASDAQ: GDEN), and Penn Entertainment (NASDAQ: GDEN).
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