Boyd Gaming Corporation’s Board of Directors has increased the company’s quarterly dividend to $0.07 per share, up from the prior quarterly dividend of $0.06 per share. The dividend is payable on July 15, 2019, to shareholders of record at the close of business on June 17, 2019.
Keith Smith, President and Chief Executive Officer, said: “We are pleased that continued strength in our operational results and contributions from our recent acquisitions allow us to increase our dividend for the second consecutive year.
“Our robust and growing free cash flow gives us the ability to continue pursuing a balanced approach to creating shareholder value through investments in accretive growth opportunities, deleveraging, share repurchases and dividends.”
News of the uprated dividend follows on from Boyd’s positive financial Q1 which Smith had described as “…another great quarter for our company” due to the successful execution of its strategy of continuing to deliver growth and margin improvement across every segment of the business.
The company had reported net income of $45.5m, or $0.40 per share, for the first quarter of 2019, compared to $41.4m, or $0.36 per share, for the year-ago period.