Boyd Gaming Corporation Plans Quarterly Dividend of $0.20 (NYSE:BYD)

Key Points

• Boyd Gaming declared a quarterly dividend of $0.20 per share (annualized $0.80) with an ex‑dividend/record date of June 15 and payment on July 15, implying a yield of about 0.9%.
• The dividend is conservatively covered (current payout ratio ~11.4%, expected ~10.3% next year), and the board also approved a $500 million share repurchase program (~7.7% of shares), signaling management confidence in the stock.

Boyd Gaming Corporation (NYSE:BYD - Get Free Report) declared a quarterly dividend on Thursday, May 7th. Stockholders of record on Monday, June 15th will be paid a dividend of 0.20 per share on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, June 15th.

Boyd Gaming has a dividend payout ratio of 11.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Boyd Gaming to earn $7.80 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 10.3%.

Boyd Gaming Price Performance

Shares of NYSE BYD opened at $85.22 on Friday. Boyd Gaming has a twelve month low of $71.14 and a twelve month high of $89.96. The stock's 50 day moving average price is $84.07 and its 200-day moving average price is $83.65. The company has a market capitalization of $6.33 billion, a PE ratio of 3.74, a PEG ratio of 1.96 and a beta of 1.11. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 0.90.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $1.60 EPS for the quarter, missing analysts' consensus estimates of $1.76 by ($0.16). The company had revenue of $997.36 million during the quarter, compared to the consensus estimate of $1.04 billion. Boyd Gaming had a return on equity of 25.63% and a net margin of 44.84%.The company's revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm posted $1.62 EPS. On average, equities analysts anticipate that Boyd Gaming will post 7.33 EPS for the current year.

Boyd Gaming announced that its board has approved a share repurchase program on Thursday, April 23rd that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 7.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

About Boyd Gaming

Boyd Gaming Corporation NYSE: BYD is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming's offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.