Las Vegas-based Golden Entertainment will deliver a special cash dividend to investors next month, the company announced Monday.
The company’s board of directors will pay a dividend of $23.5 million on July 14 for shareholders of record at the close of business on June 30. The company estimates shareholders would receive $1.71 per common share based on 13.7 million shares outstanding. The company will calculate and announce the per-share amount following the record date.
The company said the special dividend is the result of its sale of its $60 million promissory note from the Jamul Indian Village for $24 million.
The payout was among the terms of Golden’s January 2015 merger agreement with Sartini Gaming.
Golden owns and operates casinos and slot routes in Nevada, Montana and Maryland.
In Southern Nevada, it operates three casinos in Pahrump and it also holds a chain of pubs under the PT’s Gold, PT’s Pub, Sean Patrick’s and PT’s Brewing Co., and Sierra Gold brands.
Golden operates about 12,000 slot machines and more than 30 table games, with four casino properties, 50 taverns and 980 distributed gaming locations in the three states.
Shares of Golden Entertainment gained 86 cents, or 7.01 percent, to close at $13.13 on Monday. They showed additional gains in after-hours trading.
Contact Richard N. Velotta at firstname.lastname@example.org or 702-477-3893. Find him on Twitter: @RickVelotta