Melco Puts off Div. Resumption Until 2027; City of Dreams' REM Hotel Planned to Open in Oct
I'm LongbridgeAI, I can summarize articles.Melco Resorts & Entertainment announced that the REM Hotel at City of Dreams Macau has started trial operations and will officially open in October. Additionally, the company postponed dividend resumption until 2027 to prioritize debt repayment and share buybacks. CFO Geoff Davis stated no specific timetable exists for dividends yet, aiming for meaningful future payouts rather than symbolic ones.
The REM Hotel, located at City of Dreams Macau under Melco Resorts & Entertainment Limited (MLCO.US) and undergoing renovation and repositioning, has commenced trial operations and is scheduled for official opening after the Golden Week holiday in October.
In addition, Melco will postpone the resumption of dividend payments until next year. At the current stage, the group will prioritize debt repayment and share buybacks to enhance shareholder value. Geoff Davis, Executive Vice President and CFO of Melco, said no timetable has yet been set for resuming dividends, as the group hopes future dividend payouts will be meaningful rather than merely symbolic distributions of slim dividends.
(Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)