NagaCorp approves dividend payout for 2022

NagaCorp shareholders have approved a scrip dividend payout of US$0.0075 per share.

Cambodia.- The casino operator and developer NagaCorp has announced that its shareholders have approved a scrip dividend payout of US$0.0075 per share for calendar year 2022. The decision was confirmed at the annual general meeting on Friday (April 21), having been announced with annual results in February. 

The firm said the dividend payout would be made “wholly by way of scrip shares” without any right for shareholders to receive cash dividends instead of shares. The arrangement will represent a dividend payout ratio of approximately 60 per cent, based on the net profit generated in the second half of 2022.

At the same meeting, shareholders re-elected the company’s chairman, Tim McNally, as a non-executive director, Chen Yiy Fon as an executive director and Michael Lai Kai Jin as an independent non-executive director.

The casino operator’s stock traded on the Hong Kong Stock Exchange closed 1.39 per cent higher at HK$3.65 on Friday.

The company reported a net profit of nearly US$107.3m in 2022, compared to a loss of US$147.0m in the previous year. Revenue increased by 104 per cent on year-on-year terms to US$460.7m as pandemic-related restrictions were eased.

See also: Moody’s puts NagaCorp’s ratings under review for downgrade