Wynn Macau Ltd. announces a final dividend of HKD 0.185 per share for 2024, expected to be paid on June 11, with strong financial performance showing a 44.4% year-on-year increase in revenue.
Macau casino operator Wynn Macau Ltd. announced yesterday on the Hong Kong Stock Exchange that it will distribute a final dividend of HKD 0.185 per share (approximately USD 0.0244) for the year 2024. This news was released following the conclusion of a board meeting and came as a pleasant surprise to the market. JP Morgan Securities (Asia Pacific) Ltd. praised the announcement, noting that the dividend declaration exceeded market expectations.
According to the announcement, Wynn Macau Ltd. plans to pay this dividend on June 11 to shareholders registered as of June 2. This decision not only reflects the company’s strong financial performance but also demonstrates its commitment to shareholder returns. Wynn Macau Ltd.’s properties, including Wynn Macau on the Macau Peninsula and Wynn Palace in Cotai, continue to attract a large number of high-end customers, maintaining a solid market share.
In its fourth quarter and full-year results for 2024, Wynn Macau Ltd. reported a 44.4% year-on-year increase in revenue, reaching nearly USD 672.3 million. Additionally, adjusted property earnings before interest, taxes, depreciation, and amortization (EBITDAR) grew 23.2% year-on-year, approaching USD 1.18 billion. This series of figures reflects Wynn Macau’s strong profitability and competitive advantage in a highly competitive market environment.
JP Morgan analysts DS Kim and Lisa Lee noted in a report on Thursday that the final dividend from Wynn Macau Ltd. brings the total annual dividend per share to HKD 0.26, which includes an interim dividend of HKD 0.075 per share, indicating a payout ratio of 43%. This relatively high ratio further enhances investor confidence in the company.
Furthermore, the JP Morgan team analyzed that Wynn Macau’s market share remained unexpectedly stable in 2024, supporting the view of its high-quality assets. Despite facing pressures from competitors with new and larger-scale products, Wynn Macau has managed to resonate well with its core customer base of high-end and aspirational players. This not only reflects Wynn Macau’s brand value in the market but also showcases its continuous innovation in customer experience.
The JP Morgan team also added that this situation is very positive for Wynn Macau’s sustainable competitive advantage and long-term profitability outlook in Macau. As market conditions evolve, Wynn Macau will continue to strive to optimize its operational model to adapt to the changing market demands and customer preferences.
Overall, Wynn Macau Ltd.’s latest dividend announcement and financial performance demonstrate its strong presence and competitiveness in the Macau market. With the continuous release of future development potential, Wynn Macau will keep attracting more investors’ attention and trust.
