Boyd Gaming Board approves another $500m for share repurchase program

May 5, 2023
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As a result, company shareholders will receive another $0.16 per share on quarterly cash dividends.

Boyd Gaming Corporation’s Board of Director has authorized the addition of another $500m to the company’s share repurchase program. The group released an update, factoring in the additional funds into its current program.

Boyd Gaming said in an official release: “Considering the additional authorization, the company had approximately $633m remaining in repurchase authority as of March 31, 2023.”

Along with giving the green light to increasing share repurchase program funds, the Board said it has declared a quarterly cash dividend that amounts to $0.16 per share. Shareholders of record as of June 15 can expect those payments by July 15, according to the Board of Directors.

Las Vegas-based Boyd Gaming was founded in 1975. The company operates 28 gaming entertainment properties in ten states, including five properties in Louisiana. Boyd Gaming Corporation also owns 5% equity in the national sports betting operator, FanDuel Group.

It 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 for 2022.

The operator reported that it has substantially reduced its water consumption, greenhouse gas emissions and energy consumption throughout the year. The brand's report echoes an industry-wide focus on ESG that has grown in recent years.

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