Melco Resorts & Entertainment Ltd (MLCO) Raises Dividend to $0.09 Per Share

Melco Resorts & Entertainment Ltd (NASDAQ:MLCO) announced a quarterly dividend on Friday, November 3rd, Wall Street Journal reports. Investors of record on Tuesday, November 14th will be paid a dividend of 0.09 per share on Thursday, November 30th. This represents a $0.36 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Monday, November 13th. This is a positive change from Melco Resorts & Entertainment’s previous quarterly dividend of $0.03.

Shares of Melco Resorts & Entertainment (NASDAQ MLCO) opened at $25.91 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.16 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $12.77 billion, a PE ratio of 30.41, a P/E/G ratio of 0.72 and a beta of 1.92. Melco Resorts & Entertainment has a twelve month low of $14.89 and a twelve month high of $26.53.

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MLCO has been the topic of several research reports. UBS Group AG (USA) reissued a “buy” rating on shares of Melco Resorts & Entertainment in a research note on Monday, July 10th. Zacks Investment Research raised shares of Melco Resorts & Entertainment from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Wednesday, September 27th. Nomura raised shares of Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $20.00 to $29.00 in a research note on Tuesday, September 19th. Instinet raised shares of Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $20.00 to $29.00 in a research note on Tuesday, September 19th. Finally, Roth Capital initiated coverage on shares of Melco Resorts & Entertainment in a research note on Wednesday. They set a “buy” rating and a $34.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $24.05.

Melco Resorts & Entertainment Company Profile

Melco Resorts & Entertainment Limited, formerly Melco Crown Entertainment Limited, is a holding company. The Company, through its subsidiaries, develops, owns and operates casino gaming and entertainment casino resort facilities in Asia. It is principally engaged in the gaming and hospitality business in Asia and its principal operating and developmental activities occur in over two geographic areas, which include Macau and the Philippines.

Dividend History for Melco Resorts & Entertainment (NASDAQ:MLCO)

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