报告指，纵使亚洲区内零售表现疲弱无可争辩，金沙中国管理层强调澳门博彩需求仍然坚韧，在第三季仍见同比双位数增长。管理层表明可能在明年恢复股息，该行料明年派息每股0.75元，意味股息率4%。Citigroup's Sands China will distribute a dividend of 0.75 yuan per share next year, meaning a dividend yield of 4%.
According to the Wisdom Finance app, Citigroup released a research report stating that it maintains a "buy" rating on Sands China (01928) and considers it one of the preferred Macau casino stocks. The target price for Sands China has been raised from 25.8 Hong Kong dollars to 26.3 Hong Kong dollars.
Despite the renovation peak of the Londoner Macao project, Sands China's third-quarter EBITDA increased by 4% quarterly, 7% higher than the market consensus. The bank expects Sands China's EBITDA to accelerate recovery before the second quarter of 2025 when the Londoner Macao hotel resumes operations.
The report indicates that despite the unquestionable weak retail performance in the Asian region, Sands China's management emphasizes the resilient demand for Macau casinos, with double-digit year-on-year growth still seen in the third quarter. Management indicated the possibility of resuming dividends next year, with an expected dividend of 0.75 yuan per share next year, implying a dividend yield of 4%.
