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LAS VEGAS - Boyd Gaming Corporation (NYSE: NYSE:BYD (SZ:002594)), currently trading at $79.42 with a market capitalization of $7 billion, announced today that its Board of Directors approved an increase in the company’s quarterly dividend. The dividend has been raised to $0.18 per share, marking a slight increase from the previous $0.17 per share, reflecting a 6.25% growth in the last twelve months. The new dividend will be distributed on April 15, 2025, to shareholders who are on record as of the close of business on March 17, 2025. According to InvestingPro, this marks the company’s third consecutive year of dividend increases, with additional insights available through their comprehensive analysis.
The announcement comes as Boyd Gaming celebrates its 50th anniversary. The company operates 28 gaming entertainment properties across 10 states and manages a tribal casino in Northern California. Additionally, Boyd Gaming owns and operates Boyd Interactive, engaging in both B2B and B2C online casino gaming ventures. The company also holds a strategic partnership and a 5% equity stake in FanDuel Group, a leading sports-betting operator in the United States. With an EBITDA of $1.2 billion and a robust gross profit margin of 48.4%, the company demonstrates strong operational efficiency.
Boyd Gaming is recognized for its seasoned leadership team and its commitment to providing guests with a superior entertainment experience and excellent customer service. The company also emphasizes its dedication to Corporate Social Responsibility (CSR) initiatives under its philosophy of "Caring the Boyd Way," aiming to make a positive impact on stakeholders and communities it serves. InvestingPro analysis indicates the company maintains a "GOOD" overall financial health score, supported by strong profitability metrics.
This financial move reflects the company’s confidence in its performance and its commitment to delivering value to its shareholders. The increased dividend is indicative of Boyd Gaming’s stable financial position and its intention to share its success with investors.
Shareholders and potential investors may view this dividend increase as a positive signal regarding the company’s financial health and future prospects. However, as with any investment, it’s important to consider the broader market conditions and individual financial objectives.
The information provided in this article is based on a press release statement from Boyd Gaming Corporation.
In other recent news, Boyd Gaming Corporation reported its fourth-quarter 2024 earnings, exceeding Wall Street expectations with an earnings per share (EPS) of $1.96, surpassing the forecast of $1.78. The company also exceeded revenue projections, reporting $1.04 billion compared to the anticipated $997.74 million. Boyd Gaming achieved record full-year 2024 revenues of $3.9 billion, with EBITDAR nearing $1.4 billion. This financial performance reflects the company’s robust operations and diversified portfolio, including significant contributions from the Las Vegas Locals segment, which achieved margins exceeding 50%.
Additionally, Boyd Gaming announced a quarterly dividend of $0.18 per share, continuing its commitment to returning value to shareholders. Analyst firms have responded positively to Boyd Gaming’s performance, with Stifel raising its stock price target to $82, citing strong financial health and growth prospects. Mizuho (NYSE:MFG) also increased its price target to $86, highlighting the company’s market share gains and potential for future growth. These developments underscore Boyd Gaming’s strong market position and financial stability.
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