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Las Vegas Sands (LVS) Reports In-Line Q3 EPS; to Raise Dividend

October 23, 2019 4:07 PM

Las Vegas Sands (NYSE: LVS) reported Q3 EPS of $0.75, in-line with the analyst estimate of $0.75. Revenue for the quarter came in at $3.25 billion versus the consensus estimate of $3.28 billion.

- Consolidated Adjusted Property EBITDA of $1.28 Billion

- In Macao, Adjusted Property EBITDA Was $755 Million

- At Marina Bay Sands in Singapore, Adjusted Property EBITDA was $435 Million

- Our Las Vegas Operating Properties Adjusted Property EBITDA was $93 Million

- The Company Paid Quarterly Dividends of $0.77 per Share

- The Company Repurchased $100 Million of Common Stock During the Quarter

- The Company's Board of Directors Announced an $0.08 Increase in the Company's Recurring Common Stock Dividend for the 2020 Calendar Year, its Eighth Consecutive Annual Increase, Raising the Annual Dividend to $3.16 per Share ($0.79 per Share per Quarter)

"We delivered solid financial results in the quarter, with Adjusted Property EBITDA reaching $1.28 billion,\" said Sheldon G. Adelson, chairman and chief executive officer. \"We remain enthusiastic about our future growth opportunities in Asia. Next year, we will introduce approximately two million square feet of luxurious suite accommodations on the Cotai Strip with the opening of the Grand Suites at Four Seasons Macao and The Londoner Tower Suites. Additional tourism and entertainment amenities of The Londoner Macao will debut throughout 2020 and 2021. Looking further ahead, the expansion of Marina Bay Sands in Singapore will expand our suite capacity by 40% and introduce a state-of-the-art entertainment arena, both of which should contribute to growth in the future. We are also aggressively pursuing additional development opportunities in new markets, including in Japan.

"Finally, we remain deeply committed to maintaining our industry-leading financial strength while continuing to increase the return of capital to shareholders. I am pleased to announce the Las Vegas Sands Board of Directors has approved an increase in our annual dividend for the 2020 calendar year, our eighth consecutive annual increase, to $3.16 per share, or $0.79 per share per quarter."

The company paid a recurring quarterly dividend of $0.77 per common share and continued its return of capital through share repurchases of $100 million during the quarter. The company announced its next quarterly dividend of $0.77 per common share will be paid on December 26, 2019, to Las Vegas Sands shareholders of record on December 17, 2019.

For earnings history and earnings-related data on Las Vegas Sands (LVS) click here.

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