Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Announces Quarterly Dividend of $0.30

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) declared a quarterly dividend on Tuesday, October 27th. Shareholders of record on Tuesday, December 1st will be given a dividend of $0.30 per share on Tuesday, December 15th. This represents a $1.20 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, December 1st.

Monarch Casino & Resort has a dividend payout ratio of 23.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Monarch Casino & Resort to earn $7.19 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 16.7%.

Monarch Casino & Resort Trading Down 0.7%

Shares of MCRI opened at $115.28 on Wednesday. Monarch Casino & Resort has a twelve month low of $88.13 and a twelve month high of $135.93. The business’s 50-day moving average price is $118.84 and its 200-day moving average price is $112.18.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings data on Tuesday, October 27th. The company reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.86 by ($0.10). The company had revenue of $146.26 million during the quarter, compared to the consensus estimate of $147.93 million. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the company earned $1.69 earnings per share. As a group, equities research analysts forecast that Monarch Casino & Resort will post 6.98 EPS for the current year.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc operates casino resorts in Nevada and Colorado. The company’s properties combine casino gaming with hotel accommodations, dining, entertainment and other hospitality services.

Its principal properties are Atlantis Casino Resort Spa in Reno, Nevada, and Monarch Casino Resort Spa in Black Hawk, Colorado. The resorts offer gaming facilities, restaurants and bars, hotel rooms and suites, spa services, meeting spaces and entertainment options. The company primarily serves regional visitors and destination guests in the western United States.

Monarch Casino & Resort traces its history to the opening of the Atlantis in Reno in 1972.