CityCenter Announces a $180 million Dividend
MGM Resorts International (MGM)
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Source: PR Newswire
LAS VEGAS, March 22, 2019 /PRNewswire/ -- CityCenter Holdings, LLC ("CityCenter"), a venture between MGM Resorts International (NYSE: MGM) and Infinity World Development Corp ("Infinity World"), today announced that the CityCenter Board of Directors approved a $180 million dividend consisting of a $116 million special dividend and a $64 million dividend as part of its annual dividend policy. The $180 million dividend is expected to be paid by the end of the second quarter of 2019. MGM Resorts and Infinity World will each receive $90 million, their 50% share of the dividend. "CityCenter continues to demonstrate its leadership as a premier luxury destination, as ARIA is one of the top performing resorts in Las Vegas and within the MGM portfolio," said Jim Murren, Chairman and Chief Executive Officer of MGM Resorts International and Chairman of CityCenter. "The Board believes the strong free cash flow profile and balance sheet of CityCenter will continue to provide opportunities to maxim
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