Boyd Gaming Corporation’s Board of Directors has established a quarterly cash dividend of $0.15 per share that will be payable to its shareholders. The dividend will pay out on January 15, 2023 to shareholders who have stock in the company as of December 19, 2022.
The announcement follows a recently concluded merger. Boyd Gaming completed a previously announced deal to acquire Pala Interactive LLC, as well as its subsidiaries. The company closed the purchase agreement for a net cash total of $170m.
The current quarterly cash dividend has remained unchanged since the summer. The board declared the current rate during the summer after the company authorized a $500m increase to its existing share repurchase program.
The program increase has allowed the company to continue sharing its repurchases as it closes prior repurchase authorizations that total $361m.
Las Vegas-based Boyd Gaming was founded in 1975. The company operates 28 gaming entertainment properties in 10 states, including five properties in Louisiana. Boyd Gaming Corporation also owns 5% equity in FanDuel Group, a national sports betting operator.
Boyd is the parent company of Treasure Chest, which recently announced a $95m gambling expansion plan in the city of Kenner, Louisiana. This is due to Louisiana legislation that will now allow floating riverboat casinos to move onto land.
Treasure Chest is the third riverboat to make this transition since the state approved these legislative measures three years ago.
Boyd Gaming Corporation recently published its latest annual environmental, social and corporate governance (ESG) report. The company reported that it has made significant efforts during the fiscal year to improve environmental conditions, as well as positive in-house changes and philanthropic efforts.
