Bloomberg News

Wynn Resorts Rises After Declaring $5 a Share Dividend

November 02, 2011

(Updates with opening share prices.)

Nov. 2 (Bloomberg) -- Wynn Resorts Ltd., operator of the Wynn and Encore casinos, rose as much as 5.7 percent after declaring a $5 a share special dividend.

Wynn climbed to $134.56 at 10:14 a.m. New York time, after reaching $135.88 earlier. The shares had gained 24 percent this year before today.

The dividend is payable on Dec. 21 to holders of record on Nov. 23, Wynn said today in a statement. Wynn had disappointed investors on Oct. 19, when Chief Executive Officer Stephen Wynn told investors a special dividend was uncertain. The shares fell 5.3 percent the next day.

Wynn, based in Las Vegas with operations there and in Macau, China, has paid a special dividend in four of the past five years.

--Editors: James Callan, John Lear

To contact the reporter on this story: Anthony Palazzo in Los Angeles at apalazzo@bloomberg.net

To contact the editor responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net


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