HK-listed NagaCorp approve 2020 final dividend for casino operator
NagaCorp said that its recent annual general meeting had approved a final dividend for 2020.
In an April 19 filing, NagaCorp had proposed a final dividend of US $0.0188 per share, which it said would represent a payout ratio of “100%, based on the net profit generated for the second half of 2020.”
The operator of the NagaWorld complex had said in early March that its full-year 2020 profit had been just above US $102.3 million.
It said the result had been supported by a “satisfactory” recovery in the second half of the year, amid Covid-19 related disruption.
Such profit was down 80.4% compared with nearly US$521.3 million in 2019.
All casinos in Cambodia were ordered to close temporarily from April 1 in 2020, as part of measures to prevent the further spread of the pandemic. NagaWorld had reopened in July last year.
By early March this year, operations at NagaWorld had again been halted, after 11 staff tested positive for Covid-19. There has been no update so far from the company regarding a restart of casino business.
Editing by Rachel Hu