Boyd Gaming Increases Quarterly Dividend to $0.17 Per Share

Rhea-AI Summary

Boyd Gaming Corporation (BYD) raises quarterly dividend to $0.17 per share, a 6.25% increase from the previous $0.16 per share. The dividend will be paid on April 15, 2024, to shareholders of record on March 15, 2024.

Insights

Financial Analyst

The increase in Boyd Gaming Corporation's quarterly dividend from $0.16 to $0.17 per share represents a 6.25% hike, which could be seen as a positive signal to investors regarding the company's financial health and confidence in its future earnings. Dividends are often a reflection of a company's commitment to returning value to shareholders and its ability to generate cash. This decision might indicate that Boyd Gaming's free cash flow is robust, allowing for a higher distribution to shareholders without compromising its operational needs or growth investments.

However, it's important to analyze this dividend increase in the context of the company's payout ratio, which is the proportion of earnings paid out as dividends to shareholders. If the payout ratio is too high, it might raise concerns about whether the company is retaining enough earnings to fund future growth. Conversely, a moderate payout ratio could suggest that the company is balancing shareholder returns with reinvestment in the business.

Market Research Analyst

Boyd Gaming's dividend increase could also be interpreted as a strategic move to attract income-focused investors, especially in an industry where competition for capital is intense. The gaming and hospitality sector is highly sensitive to economic cycles and a steady dividend could make Boyd Gaming's stock more appealing during periods of market volatility. It's essential to consider the dividend yield, which is the dividend per share divided by the stock price. An increase in the dividend could improve the yield, making the stock more attractive relative to its peers, especially if the yield exceeds the industry average.

In the broader context, Boyd Gaming's dividend policy should be evaluated against the backdrop of the gaming industry's overall growth prospects, regulatory environment and potential headwinds such as changes in consumer spending patterns. A consistent and growing dividend can be a sign of resilience and a competitive advantage in such a dynamic industry.

LAS VEGAS--(BUSINESS WIRE)-- Boyd Gaming Corporation (NYSE: BYD) announced that its Board of Directors has increased the Company’s quarterly dividend to $0.17 per share, up from the prior quarterly dividend of $0.16 per share. The dividend is payable April 15, 2024, to shareholders of record at the close of business on March 15, 2024.

About Boyd Gaming

Founded in 1975, Boyd Gaming Corporation (NYSE: BYD) is a leading geographically diversified operator of 28 gaming entertainment properties in 10 states, manager of a tribal casino in northern California, and owner and operator of Boyd Interactive, a B2B and B2C online casino gaming business. The Company is also a strategic partner and 5% equity owner of FanDuel Group, the nation's leading sports-betting operator. With one of the most experienced leadership teams in the casino industry, Boyd Gaming prides itself on offering guests an outstanding entertainment experience and memorable customer service. Through a long-standing company philosophy called Caring the Boyd Way, Boyd Gaming is committed to advancing Corporate Social Responsibility (CSR) initiatives that positively impact the Company's stakeholders and communities. For additional Company information and press releases, visit https://investors.boydgaming.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240227479590/en/

Financial Contact:

Josh Hirsberg

(702) 792-7234

joshhirsberg@boydgaming.com

Media Contact:

David Strow

(702) 792-7386

davidstrow@boydgaming.com

Source: Boyd Gaming Corporation

FAQ

What is Boyd Gaming Corporation's (BYD) new quarterly dividend?

Boyd Gaming Corporation (BYD) has increased its quarterly dividend to $0.17 per share.

When will Boyd Gaming Corporation (BYD) pay the new dividend?

Boyd Gaming Corporation (BYD) will pay the new dividend on April 15, 2024.

What was Boyd Gaming Corporation's (BYD) previous quarterly dividend amount?

Boyd Gaming Corporation (BYD) had a previous quarterly dividend of $0.16 per share.

When is the record date for shareholders to receive Boyd Gaming Corporation's (BYD) dividend?

Shareholders of Boyd Gaming Corporation (BYD) must be on record as of March 15, 2024, to receive the dividend.