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Crown Resorts Ltd (ASX: CWN) Share Price and News

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Crown Resorts Ltd (CWN) is one of Australia’s largest entertainment groups. The company owns and operates 2 major integrated resorts, Crown Melbourne and Crown Perth, which house everything from hotels, casinos and shops to restaurants, bars and the like. Crown is also set to soon unveil a resort in Barangaroo, Sydney.

Overseas, the company owns and operates Crown Aspinalls in London, a high-end casino in the West End entertainment district. Crown also has investment stakes in UK casino group Aspers and international restaurant/hotel chain Nobu. On top of all of this, Crown owns betting exchange Betfair Australasia and has interests in other digital businesses.

Crown’s history traces back to Australian rich lister Lloyd Williams when he built the Crown Casino in Melbourne in the 1990s. The casino was later bought out by the Packer family’s PBL and in 2007, Crown Resorts was born when PBL split into separate media and gaming companies. Today, Crown Resorts is one of Australia’s largest public companies, which is reflected in its place within the S&P/ASX 200 Index (ASX: XJO).

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FAQ

Will Crown Resorts pay a dividend in 2020?

Crown Resorts has paid partially franked, twice yearly dividends every year since listing on the ASX at the end of 2007. The company paid an unfranked interim dividend of 30 cents per share on 17 April 2020. This was deferred from its original payment date of 3 April due to Crown finalising additional financing arrangements following the negative impacts of COVID-19 on its business. The interim dividend was originally intended to be franked to 25%. In an update on 2 April, however Crown announced its decision to issue the payment unfranked in light of the pandemic’s impact. This is the first instance of Crown Resorts paying an unfranked dividend. Typically the company pays its final dividend in early October and, as at 23 June, has made no announcement regarding this payment.  

Does Crown Resorts offer a DRP?

No. As at June 2020, Crown Resorts does not offer a dividend reinvestment plan.