Genting Malaysia Bhd. : GMALY-US: Dividend Analysis : March 09th, 2017 (record date) : By the numbers : April 4, 2017

Our analysis is based on comparing Genting Malaysia Bhd. with the following peers – Hyatt Hotels Corporation Class A, Genting Bhd. Sponsored ADR and Iao Kun Group Holding Company Limited (H-US, GEBHY-US and IKGH-US).

Dividend Yield
Dividend Quality Score

Dividend Quality Overview

  • Over the last twelve months (prior to December 31, 2016), GMALY-US paid a high quality dividend, which represents a yield of 1.55% at the current price.
  • Dividend quality trend has not been consistent over the last five years. Dividends were paid during each of these years — of these 2 were high quality, 2 were medium quality and 1 was low quality.
  • The ending cash balance, with a dividend coverage of 12.18x, provides a substantial cushion in case of a significant reduction of cash flows in the future.
Dividend Quality Score Vs Dividend Yield

Quadrant label definitions. Hover to know more

High Score;High Yield, High Score;Low Yield, Low Score;Low Yield, Low Score;High Yield

Dividend Coverage

Over the last twelve months (prior to December 31, 2016), GMALY-US paid a high quality dividend.

The source of the company’s cash to support the dividend paid over the last twelve months is operating cash flow (coverage of 5.44x), investing cash flow (coverage of -3.16x), issuance cash flow (coverage of -0.50x) and twelve-month prior cash (coverage of 13.55x), for a total dividend coverage of 13.18x.

GMALY-US‘s issuance cash flow includes outflows from net debt repayment (coverage of -0.49x) and net share buybacks (coverage of -0.01x). Thus, the total coverage including share buybacks is 13.19x, which reflects our assumption that the cash paid for share buybacks is discretionary and could instead be used to pay dividends.

Dividend Coverage by Cash Flow (TTM)

These coverage ratio factors imply that the firm’s dividends are wholly paid from operating and investing cash flows net of any debt repayments, which suggests a high dividend quality.

Dividend History

Item 2012-12-31 2013-12-31 2014-12-31 2015-12-31 2016-12-31 Latest
Dividend Yield (%) 1.81 1.65 1.81 1.58 1.65 2.53
Dividend Payout (%) 24.22 19.86 26.2 27.29 15.88 15.88

A complete list of metrics and analysis is available on the company page.

Company Profile

Genting Malaysia Bhd. engages in the leisure and hospitality business such as gaming, hotel, entertainment, and amusement activities. It operates through the following segments: Leisure & Hospitality and Properties. The Leisure and Hospitality segment includes gaming, hotel, entertainment and amusement businesses, tours and travel related services and other support services. The Properties segment focuses on property developments, property investment and management. The company was founded on May 7, 1980 and is headquartered in Kuala Lumpur, Malaysia.


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