MGM Resorts International (NYSE:MGM) announced a quarterly dividend on Tuesday, February 20th, RTT News reports. Investors of record on Friday, March 9th will be paid a dividend of 0.12 per share on Thursday, March 15th. This represents a $0.48 dividend on an annualized basis and a yield of 1.42%. This is a boost from MGM Resorts International’s previous quarterly dividend of $0.11.
MGM Resorts International has a payout ratio of 40.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect MGM Resorts International to earn $1.42 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 31.0%.
Shares of MGM Resorts International (NYSE MGM) opened at $33.85 on Tuesday. MGM Resorts International has a 52 week low of $25.15 and a 52 week high of $38.41. The company has a market capitalization of $19,514.78, a price-to-earnings ratio of 33.79, a P/E/G ratio of 6.06 and a beta of 1.44. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 1.26.
In related news, Director Sean Charland purchased 25,000 shares of MGM Resorts International stock in a transaction dated Wednesday, December 6th. The stock was purchased at an average cost of $22.50 per share, for a total transaction of $562,500.00. Also, Director William A. Bible sold 6,128 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $33.23, for a total value of $203,633.44. Following the transaction, the director now owns 27,081 shares of the company’s stock, valued at $899,901.63. The disclosure for this sale can be found here. Insiders have acquired 95,000 shares of company stock valued at $581,500 in the last three months. Insiders own 12.20% of the company’s stock.
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MGM Resorts International Company Profile
MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.
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