Wynn Macau Ltd CEO Craig Billings and President Linda Chen have both been re-elected as executive directors at the company’s Annual General Meeting on Thursday, among a total of eight resolutions to pass.
Billings, who is also CEO of parent Wynn Resorts, received 98.08% of votes in favor of his re-election while Chen received 98.36% and will remain Vice Chairman.
Also re-elected as non-executive directors were Jeffrey Lam Kin Fung and Julie Cameron, the latter being Wynn Resorts’ Chief Financial Officer.
In a separate announcement, the company confirmed it has approved amendments to its existing dividend policy with the Board to meet semi-annually to consider the declaration of dividends and potentially at any time during the year as it deems fit to consider the declaration of special dividends.
The company does not have any pre-determined dividend payout ratio, it added, and will base the declaration of dividends on the group’s “level of distributable reserves, past and forecasted cash flows and liquidity position, business conditions and strategies, future operations and earnings, capital requirements and expenditure plans, interests of shareholders, any restrictions on payment of dividends, and any other factors that the Board may consider relevant.”
Wynn in March became just the third Macau concessionaire to resume dividend payments post-COVID when it announced a final dividend of HK$0.075 for the year ended 31 December 2023. That decision was also passed by shareholders on Thursday.
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