The lack of an interim dividend saw Genting’s share price slide down to levels last seen in August 2020, when the Covid-19 pandemic crippled the group’s operations.
In a shift away from the norm, Genting Bhd did not declare an interim dividend when it announced its half-yearly results for the January-June period this year.
Clearly, the company is conserving cash to pare down its debt, which has ballooned to RM38.9 billion ($11.85 billion) versus its total equity of RM52.8 billion as at end-June this year. This is relatively high given that the conglomerate is known for its strong cash flow from its gaming business.
