Las Vegas Sands Board of Directors Approves Multi-Year Share Repurchase Program
NEW YORK, NY -- (Marketwired) -- 06/05/13 -- Las Vegas Sands Corp.
(NYSE: LVS) announced today that the company's Board of Directors has
approved a multi-year share repurchase program.
"I am extremely proud to announce that the company's outstanding
financial performance, together with our expanding cash flows and
strong balance sheet, has enabled us to initiate a multi-year share
repurchase program," said Mr. Sheldon G. Adelson, chairman and chief
executive officer of Las Vegas Sands. "We believe the implementation
of our share repurchase program, together with our previously
established recurring dividend program, will allow us to maximize
returns to shareholders in the years ahead."
Mr. Adelson noted that the initial authorization for the share
repurchase program is $2 billion and the company expects to utilize
the program in an opportunistic fashion.
In 2012, the company's Board of Directors established a recurring
dividend of $1.00 per share per year, and increased the recurring
dividend by 40 percent to $1.40 per share in 2013. In addition, the
company paid a special dividend of $2.75 per share in December 2012.
"It is gratifying that the company's businesses and cash flows have
grown to a level that enabled the company to return nearly $3.1
billion of capital to shareholders in 2012, while retaining ample
liquidity to pursue future growth opportunities," concluded Mr.
About Las Vegas Sands
Las Vegas Sands (NYSE: LVS) is a Fortune 500 company and the leading
global developer of destination properties (Integrated Resorts) that
feature premium accommodations, world-class gaming and entertainment,
convention and exhibition facilities, celebrity chef restaurants, and
many other amenities.
The Venetian(R) and The Palazzo(R), Five-Diamond luxury resorts on
the Las Vegas Strip, and Sands(R) Bethlehem in Eastern Pennsylvania
are the company's properties in the United States. Marina Bay
Sands(R) is the company's iconic Integrated Resort in Singapore's
downtown Marina Bay district.
Through its majority-owned subsidiary Sands China Ltd. (HKSE: 1928),
the company owns a portfolio of properties on Macao's Cotai Strip(R),
including The Venetian(R) Macao, Four Seasons Hotel Macao, and Sands
Cotai Central. The company also owns the Sands(R) Macao on the Macao
Las Vegas Sands is committed to global sustainability through its
Sands ECO360 program and is an active community partner through its
various charitable organizations.
For more information, please visit www.lasvegassands.com.
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