Boyd Gaming Unveils Increase in Dividend

This year, Boyd Gaming, an operator that owns gaming entertainment properties in 10 states, manages a tribal casino in another one, and operates iGaming B2B and B2C businesses, celebrates its 50^th birthday. Investors will also have reasons to celebrate as the leading American casino & hospitality company just announced that it will be raising its quarterly dividend.

In addition to being new goods for investors, this move highlights Boyd’s strong financial position.

Dividend Goes Up by 5.9%

Back during the pandemic, Boyd was one of the first casino companies to temporarily suspend its dividend. This temporary setback has yielded long-term results, allowing the operator to return stronger. Now, it is making up to its investors by regularly increasing the quarterly dividend. The current increase marks the third time Boyd has raised its dividend since the end of the COVID-19 restrictions.

According to the announcement, the current change will see the dividend increase by 5.9%. This means that investors will now be eligible to receive 18 cents per share, instead of 17. The dividend increase was approved by the company’s board of directors and would result in a total of 72 cents per share a year. This brings the dividend yield closer to 1% based on the current share price.

The dividend is payable April 15, 2025, to shareholders of record at the close of business on March 17, 2025.

Boyd statement

The company stock is currently worth $79.42 apiece. The price has been steadily growing in the past few years despite seasonal fluctuations. The company’s dividend increases and share buyback initiatives attest to a healthy business that is poised to grow even further.

Boyd Gaming Strengthens US Presence

In the meantime, Boyd Gaming continues to grow its business in America. The operator recently bought Resorts Digital, the online branch of Atlantic City’s Resorts Casino, strengthening its US iGaming presence.

In September 2024, Boyd Gaming acquired a majority stake in Golden Eagle Consulting, a company created by billionaire Jon Yarbrough. This set it up to play a key role in the development, financing and operations of the Pamunkey Indian Tribe’s future casino in Norfolk.

While Boyd’s gaming business has been growing strong, this isn’t to say that there haven’t been some controversies. In January, Boyd Gaming updated its grooming policy, seemingly prohibiting employees from wearing masks. The policy was praised by conspiracy theorists but challenged by casino workers who might be exposed to higher risks during virus seasons.

A casino blogger, however, later clarified that, in fact, any employee, whether they have a disability or not, can request to wear a mask and receive approval from the HR department.