Las Vegas Sands raises its 2027 dividend 20 percent to $1.44 as third-quarter profit falls to $352m

Las Vegas Sands will pay shareholders a recurring dividend of $1.44 a share in 2027, or 36 cents a quarter, up 20 percent from the 30 cents it pays now. The increase came with third-quarter results that the casino operator filed with the SEC on Wednesday, in which net income fell to $352m, or 48 cents a share, from $491m.

Net revenue was $3.22bn against $3.33bn. Singapore drove most of the decline. Adjusted property EBITDA at Marina Bay Sands dropped to $590m from $743m as its revenue fell to $1.29bn from $1.44bn, while the Macao properties earned $529m against $601m, even though Sands China's revenue rose 1.4 percent.

The company spent $950m buying back about 21 million of its own shares during the quarter, at an average of $45.31, and has $5.06bn of authorisation left. Chairman and chief executive Patrick Dumont said volumes in Macao grew across all gaming segments from a year earlier.