Iao Kun Group Holding Company Limited Announces 2014 Annual Cash Dividend
Iao Kun Group Holding Company Limited (“IKGH” or the “Company”) (NASDAQ:IKGH) , which operates through its subsidiaries and related promotion entities that act as VIP room gaming promoters and a collaborator, previously announced that its Board of Directors had authorized a regular semi-annual dividend (the “Six-Month Dividend”) equal to (i) 15% of IKGH’s non-GAAP net income for the most recently completed six months ended June 30, divided by (ii) the number of ordinary shares outstanding on the record date for such dividend.
In addition, for each year after the release of the Company’s year-end financial results, the Board had authorized a regular dividend (the “Annual Dividend”) equal to (i) 15% of the Company’s non-GAAP net income for the most recently completed fiscal year less the amount paid pursuant to the Six-Month Dividend, divided by (ii) the number of ordinary shares outstanding on the record date for such dividend.
The Company today announced the 2014 Annual Dividend will be $0.0169 per ordinary share outstanding to shareholders of record as of June 5, 2015 and that the payment date will be June 22, 2015.
About Iao Kun Group Holding Company Limited
IKGH is a holding company which operates through its subsidiaries and related promotion entities that act as VIP room gaming promoters and a collaborator, and is entitled to receive all of the profits of the VIP gaming promoters and a collaborator from VIP gaming rooms. IKGH’s VIP room gaming promoters and collaborator currently participate in the promotion of five major luxury VIP gaming facilities in Macau, China, the largest gaming market in the world. One VIP gaming room is located at the top-tier 5-star hotel, the StarWorld Hotel & Casino in downtown Macau, and another is located in the luxury 5-star hotel, the Galaxy MacauTM Resort in Cotai, each of which is operated by Galaxy Casino, S.A. Additional VIP gaming rooms are located at the Sands Cotai Central and City of Dreams Macau, both in Cotai, and Le Royal Arc Casino, located in NAPE, Downtown Macau.
Forward Looking Statements
This press release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of IKGH’s management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements.
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