Back to top

Analyst Blog

This page is temporarily not available.  Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext.  9339.

Casino-resort operator Wynn Resorts Limited (WYNN - Analyst Report) recently announced its decision to hike its quarterly dividend by 25.0% to $1.25 per share next year. This brings the forward annual dividend yield, as of Nov 5, 2013, to 3.03%. The announcement for the current hike comes after about a year.

In addition to this hike, Wynn also decided to distribute a special dividend of $3.00 per share, payable on Dec 6, 2013, to stockholders of record as of Nov 20, 2013. Wynn has a history of repaying shareholders handsomely by means of regular and special dividend payment.

Prior to this, at the end of 2012, the company rewarded its shareholders with a hefty special dividend of $7.50 per share. Wynn also paid special dividends in addition to regular payments in 2010 and 2011.

At the end of the third quarter of 2013, cash and investments balance was $2.7 billion and total debt outstanding was $6.2 billion.

We appreciate WYNN Resorts’ efforts to consistently enhance long-term shareholder value even in times of an economic downturn. We believe that the additional dividend affirms Wynn Resorts’ positive outlook and reflects confidence in its fundamentals.

Wynn Resorts currently carries a Zacks Rank #2 (Buy). Some companies from the casino gaming sector that are worth a look at the current level include Las Vegas Sands Corp. (LVS - Analyst Report), MGM Resorts International (MGM - Analyst Report), and Melco Crown Entertainment Limited (MPEL - Snapshot Report). While Melco Crown holds a Zacks Rank #1 (Strong Buy) Las Vegas Sands and MGM Resorts carry a Zacks Rank #2 (Buy).
 

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

Learn more

Start for as little as $4.50 per trade.

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
LAKE SHORE G LSG 0.77 +6.05%
QUESTCOR PHA QCOR 80.07 +2.47%
VIPSHOP HOLD VIPS 156.35 +1.82%
ENLINK MIDST ENLC 36.29 +1.60%
BNC BANCORP BNCN 17.33 +1.58%