Wynn Macau (01128) rose more than 3%, with the stock up 3.35% to HK$5.55 at the time of writing. Trading volume reached HK$11.42 million. The company recently announced its full-year results for the period ending December 31, 2025. Casino revenue amounted to HK$24.418 billion, an increase of 3.39% year-on-year. Profit attributable to owners was HK$1.63 billion, down 49.05% compared to the previous year. Basic earnings per share were HK$0.31, and a final dividend of HK$0.223 per share was declared.
UBS issued a research note stating that Wynn Macau's final dividend per share of HK$0.223 for the 2025 fiscal year exceeded market expectations of HK$0.185. The final dividend for 2025 was higher than both the interim dividend for 2025 and the final dividend for 2024, which were HK$0.185. This brings the total dividend per share for the full year to HK$0.408, implying an attractive dividend yield of approximately 7.7%, the highest in the industry. The dividend payout ratio is about 131% (compared to approximately 42% in 2024), representing 65-75% of the free cash flow generated in the 2025 fiscal year. The bank anticipates a positive market reaction, as the significant dividend increase reflects management's confidence in sustained demand and leverage.
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