getting approval from creditors<\/a> to sell its Las Vegas assets, Sands agreed to hold off on restarting the dividend.<\/p>\nEliminating the payout was a tough call for the late Sheldon Adelson, as the former LVS chairman and chief executive officer was known for saying, \u201cYay, dividends!\u201d Today, his widow, Dr. Miriam Adelson and other heirs control the majority of LVS\u2019 shares outstanding. Some analysts say the family is unlikely to significantly reduce that stake until the payout resumes.<\/p>\n
Sands Gains Flexibility, Dividend Still on Radar<\/h2>\n By amending the credit facility, Sands gains some breathing room, which is crucial as the company needs to make new nongaming investments in Macau, eyes enhancements to Marina Bay Sands in Singapore, and vies for new projects, including in New York.<\/p>\n
None of those factors mean the dividend is off the company\u2019s list of priorities. Far from it. On the operator\u2019s fourth-quarter earnings conference call last month, President and COO Patrick Dumont — Adelson\u2019s son-in-law — noted the payout is a priority.<\/p>\n
As cash flows normalize, Sands could \u201clook to start the dividend again and be very shareholder friendly,\u201d <\/strong>Dumont told analysts.<\/p>\n","protected":false},"excerpt":{"rendered":"Las Vegas Sands (NYSE: LVS) reached an agreement with lenders to amend select covenants in a $1.5 billion revolving credit facility — a move that further delays the casino operator\u2019s plans to restore its quarterly dividend. The Parisian Macau operator revealed the amendments to the credit facility in a Form 8-K filing with the Securities […]<\/p>\n","protected":false},"author":46,"featured_media":257243,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,10,33810],"tags":[81913,81903,81898],"acf":[],"yoast_head":"\n
Sands Alters Credit Facility, Likely Delaying Dividend Restart<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n