Las Vegas Sands Tops Q4 Estimates; Raises Dividend (LVS)
Resort company, Las Vegas Sands Corp.(LVS) reported increased profits in the Q4, and have announced an increase in its dividend payout on Thursday.
The Las Vegas, NV based company reported fourth quarter net income of $434.8 million, or 53 cents per share, up 36% from last years net income of $320 million, or 39 cents per share. Excluding special items, earnings were $450.5 million, or 54 cents per share, compared to $461 million, or 57 cents per share last year. Analysts expected to see adjusted earnings of 59 cents per share.
Revenue for the quarter came in at $3.08 billion, up from $2.54 billion last year, and beating analysts estimate of $3.01 billion.
The company reported that they saw a 48% upside in revenue in China, while Singapore saw a decline of -11%. Las Vegas revenue was also down by -9.2%
Additionally, LVS announced that they have increased their dividend by 40% to 35 cents per share quarterly. This dividend will be paid this quarter.
Las Vegas Sands shares were up $2.74, or 5.31% during premarket trading Thursday. The stock has increased 4% in the past year.
The Bottom Line
Shares of Las Vegas Sands Corp.(LVS) will now have a yield of 2.72%, based on the higher dividend payout and Wednesday’s closing price of $51.56.
Las Vegas Sands Corp.(LVS)is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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