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This excerpt taken from the LVS 8-K filed Nov 2, 2009. DIVIDENDS We do not expect to pay cash dividends on our Shares in the foreseeable future. We intend to retain earnings to finance our operations and the expansion of our business, including the development of additional integrated resorts in Cotai. Our Board of Directors will determine whether to pay dividends in the future based on conditions then existing, including our earnings, financial condition and capital requirements, as well as economic and other conditions our Board may deem relevant. Our ability to declare and pay dividends on our Shares is also subject to the requirements of Cayman Islands law. Moreover, we are a holding company which is dependent upon the operations of our subsidiaries for cash and the terms of our subsidiaries’ debt and other agreements restrict the ability of our subsidiaries to make dividends or other distributions to us. Specifically, pursuant to the Macau Credit Facility, there are restrictions on VML’s ability to distribute dividends, and dividend distributions by VML are the principal means by which we would have the necessary funds to pay dividends on our Shares for the foreseeable future. Therefore, unless and until we pay cash dividends on our Shares, any gains from your investment in our Shares must come from an increase in the market price of such Shares. There are no restrictions under the Macau Credit Facility, Ferry Financing Facility or the Motor Vehicle Facility on our Company’s ability to pay dividends. Upon completion of [·] and the mandatory exchange of Bonds for Shares, there will be no restrictions in any of our loan agreements or other debt instruments that would limit or restrict our ability to pay dividends on our Shares, should we elect to pay dividends in the future. These excerpts taken from the LVS 10-K filed Mar 2, 2009. Dividends
We have not declared or paid any dividends on our common stock
since our formation in August 2004 and we do not expect to pay
dividends on our common stock in the future. We expect to retain
our future earnings, if any, for use in the operation and
expansion of our business.
In November 2008, we issued 10,446,300 shares of our
Preferred Stock and warrants to purchase up to an aggregate of
approximately 174,105,348 shares of our common stock.
Dividends on the Preferred Stock are cumulative from the date of
original issuance and are payable, when and if declared, in cash
on a quarterly basis, commencing February 15, 2009. On
February 5, 2009, our Board of Directors declared a
dividend of $2.50 per preferred share to the holders of the
Preferred Stock of record on that date for a total amount of
$24.5 million, which was paid on February 17, 2009,
the first business day following the February 15, 2009,
payment date.
Our Board of Directors will determine whether to pay dividends
on our common and preferred stock in the future based on
conditions then existing, including our earnings, financial
condition, available cash and capital requirements, as well as
economic and other conditions deemed relevant. Our ability to
declare and pay such dividends is subject to the requirements of
Nevada law. In addition, we are a parent company with limited
business operations of our own. Accordingly, our primary sources
of cash are dividends and distributions with respect to our
ownership interest in our subsidiaries that are derived from the
earnings and cash flow generated by our operating properties.
Our subsidiaries’ long-term debt arrangements place
material restrictions on their ability to pay cash dividends to
the Company. This will restrict our ability to pay cash
dividends other than from cash on hand. See
“Item 7 — Management’s Discussion and
Analysis of Financial Condition and Results of
Operations — Liquidity and Capital
Resources — Restrictions on Distributions” and
“Item 8 — Financial Statements and
Supplementary Data — Notes to Consolidated Financial
Statements — Note 8 — Long-Term
Debt.”
Dividends
We have not declared or paid any dividends on our common stock
since our formation in August 2004 and we do not expect to pay
dividends on our common stock in the future. We expect to retain
our future earnings, if any, for use in the operation and
expansion of our business.
In November 2008, we issued 10,446,300 shares of our
Preferred Stock and warrants to purchase up to an aggregate of
approximately 174,105,348 shares of our common stock.
Dividends on the Preferred Stock are cumulative from the date of
original issuance and are payable, when and if declared, in cash
on a quarterly basis, commencing February 15, 2009. On
February 5, 2009, our Board of Directors declared a
dividend of $2.50 per preferred share to the holders of the
Preferred Stock of record on that date for a total amount of
$24.5 million, which was paid on February 17, 2009,
the first business day following the February 15, 2009,
payment date.
Our Board of Directors will determine whether to pay dividends
on our common and preferred stock in the future based on
conditions then existing, including our earnings, financial
condition, available cash and capital requirements, as well as
economic and other conditions deemed relevant. Our ability to
declare and pay such dividends is subject to the requirements of
Nevada law. In addition, we are a parent company with limited
business operations of our own. Accordingly, our primary sources
of cash are dividends and distributions with respect to our
ownership interest in our subsidiaries that are derived from the
earnings and cash flow generated by our operating properties.
Our subsidiaries’ long-term debt arrangements place
material restrictions on their ability to pay cash dividends to
the Company. This will restrict our ability to pay cash
dividends other than from cash on hand. See
“Item 7 — Management’s Discussion and
Analysis of Financial Condition and Results of
Operations — Liquidity and Capital
Resources — Restrictions on Distributions” and
“Item 8 — Financial Statements and
Supplementary Data — Notes to Consolidated Financial
Statements — Note 8 — Long-Term
Debt.”
Dividends
We have not declared or paid any dividends on our common stock
since our formation in August 2004 and we do not expect to pay
dividends on our common stock in the future. We expect to retain
our future earnings, if any, for use in the operation and
expansion of our business.
In November 2008, we issued 10,446,300 shares of our
Preferred Stock and warrants to purchase up to an aggregate of
approximately 174,105,348 shares of our common stock.
Dividends on the Preferred Stock are cumulative from the date of
original issuance and are payable, when and if declared, in cash
on a quarterly basis, commencing February 15, 2009. On
February 5, 2009, our Board of Directors declared a
dividend of $2.50 per preferred share to the holders of the
Preferred Stock of record on that date for a total amount of
$24.5 million, which was paid on February 17, 2009,
the first business day following the February 15, 2009,
payment date.
Our Board of Directors will determine whether to pay dividends
on our common and preferred stock in the future based on
conditions then existing, including our earnings, financial
condition, available cash and capital requirements, as well as
economic and other conditions deemed relevant. Our ability to
declare and pay such dividends is subject to the requirements of
Nevada law. In addition, we are a parent company with limited
business operations of our own. Accordingly, our primary sources
of cash are dividends and distributions with respect to our
ownership interest in our subsidiaries that are derived from the
earnings and cash flow generated by our operating properties.
Our subsidiaries’ long-term debt arrangements place
material restrictions on their ability to pay cash dividends to
the Company. This will restrict our ability to pay cash
dividends other than from cash on hand. See
“Item 7 — Management’s Discussion and
Analysis of Financial Condition and Results of
Operations — Liquidity and Capital
Resources — Restrictions on Distributions” and
“Item 8 — Financial Statements and
Supplementary Data — Notes to Consolidated Financial
Statements — Note 8 — Long-Term
Debt.”
Dividends We have not declared or paid any dividends on our common stock since our formation in August 2004 and we do not expect to pay dividends on our common stock in the future. We expect to retain our future earnings, if any, for use in the operation and expansion of our business. In November 2008, we issued 10,446,300 shares of our Preferred Stock and warrants to purchase up to an aggregate of approximately 174,105,348 shares of our common stock. Dividends on the Preferred Stock are cumulative from the date of original issuance and are payable, when and if declared, in cash on a quarterly basis, commencing February 15, 2009. On February 5, 2009, our Board of Directors declared a dividend of $2.50 per preferred share to the holders of the Preferred Stock of record on that date for a total amount of $24.5 million, which was paid on February 17, 2009, the first business day following the February 15, 2009, payment date. Our Board of Directors will determine whether to pay dividends on our common and preferred stock in the future based on conditions then existing, including our earnings, financial condition, available cash and capital requirements, as well as economic and other conditions deemed relevant. Our ability to declare and pay such dividends is subject to the requirements of Nevada law. In addition, we are a parent company with limited business operations of our own. Accordingly, our primary sources of cash are dividends and distributions with respect to our ownership interest in our subsidiaries that are derived from the earnings and cash flow generated by our operating properties. Our subsidiaries’ long-term debt arrangements place material restrictions on their ability to pay cash dividends to the Company. This will restrict our ability to pay cash dividends other than from cash on hand. See “Item 7 — Management’s Discussion and Analysis of Financial Condition and Results of Operations — Liquidity and Capital Resources — Restrictions on Distributions” and “Item 8 — Financial Statements and Supplementary Data — Notes to Consolidated Financial Statements — Note 8 — Long-Term Debt.” Dividends We have not declared or paid any dividends on our common stock since our formation in August 2004 and we do not expect to pay dividends on our common stock in the future. We expect to retain our future earnings, if any, for use in the operation and expansion of our business. In November 2008, we issued 10,446,300 shares of our Preferred Stock and warrants to purchase up to an aggregate of approximately 174,105,348 shares of our common stock. Dividends on the Preferred Stock are cumulative from the date of original issuance and are payable, when and if declared, in cash on a quarterly basis, commencing February 15, 2009. On February 5, 2009, our Board of Directors declared a dividend of $2.50 per preferred share to the holders of the Preferred Stock of record on that date for a total amount of $24.5 million, which was paid on February 17, 2009, the first business day following the February 15, 2009, payment date. Our Board of Directors will determine whether to pay dividends on our common and preferred stock in the future based on conditions then existing, including our earnings, financial condition, available cash and capital requirements, as well as economic and other conditions deemed relevant. Our ability to declare and pay such dividends is subject to the requirements of Nevada law. In addition, we are a parent company with limited business operations of our own. Accordingly, our primary sources of cash are dividends and distributions with respect to our ownership interest in our subsidiaries that are derived from the earnings and cash flow generated by our operating properties. Our subsidiaries’ long-term debt arrangements place material restrictions on their ability to pay cash dividends to the Company. This will restrict our ability to pay cash dividends other than from cash on hand. See “Item 7 — Management’s Discussion and Analysis of Financial Condition and Results of Operations — Liquidity and Capital Resources — Restrictions on Distributions” and “Item 8 — Financial Statements and Supplementary Data — Notes to Consolidated Financial Statements — Note 8 — Long-Term Debt.” Dividends We have not declared or paid any dividends on our common stock since our formation in August 2004 and we do not expect to pay dividends on our common stock in the future. We expect to retain our future earnings, if any, for use in the operation and expansion of our business. In November 2008, we issued 10,446,300 shares of our Preferred Stock and warrants to purchase up to an aggregate of approximately 174,105,348 shares of our common stock. Dividends on the Preferred Stock are cumulative from the date of original issuance and are payable, when and if declared, in cash on a quarterly basis, commencing February 15, 2009. On February 5, 2009, our Board of Directors declared a dividend of $2.50 per preferred share to the holders of the Preferred Stock of record on that date for a total amount of $24.5 million, which was paid on February 17, 2009, the first business day following the February 15, 2009, payment date. Our Board of Directors will determine whether to pay dividends on our common and preferred stock in the future based on conditions then existing, including our earnings, financial condition, available cash and capital requirements, as well as economic and other conditions deemed relevant. Our ability to declare and pay such dividends is subject to the requirements of Nevada law. In addition, we are a parent company with limited business operations of our own. Accordingly, our primary sources of cash are dividends and distributions with respect to our ownership interest in our subsidiaries that are derived from the earnings and cash flow generated by our operating properties. Our subsidiaries’ long-term debt arrangements place material restrictions on their ability to pay cash dividends to the Company. This will restrict our ability to pay cash dividends other than from cash on hand. See “Item 7 — Management’s Discussion and Analysis of Financial Condition and Results of Operations — Liquidity and Capital Resources — Restrictions on Distributions” and “Item 8 — Financial Statements and Supplementary Data — Notes to Consolidated Financial Statements — Note 8 — Long-Term Debt.” Dividends We have not declared or paid any dividends on our common stock since our formation in August 2004 and we do not expect to pay dividends on our common stock in the future. We expect to retain our future earnings, if any, for use in the operation and expansion of our business. In November 2008, we issued 10,446,300 shares of our Preferred Stock and warrants to purchase up to an aggregate of approximately 174,105,348 shares of our common stock. Dividends on the Preferred Stock are cumulative from the date of original issuance and are payable, when and if declared, in cash on a quarterly basis, commencing February 15, 2009. On February 5, 2009, our Board of Directors declared a dividend of $2.50 per preferred share to the holders of the Preferred Stock of record on that date for a total amount of $24.5 million, which was paid on February 17, 2009, the first business day following the February 15, 2009, payment date. Our Board of Directors will determine whether to pay dividends on our common and preferred stock in the future based on conditions then existing, including our earnings, financial condition, available cash and capital requirements, as well as economic and other conditions deemed relevant. Our ability to declare and pay such dividends is subject to the requirements of Nevada law. In addition, we are a parent company with limited business operations of our own. Accordingly, our primary sources of cash are dividends and distributions with respect to our ownership interest in our subsidiaries that are derived from the earnings and cash flow generated by our operating properties. Our subsidiaries’ long-term debt arrangements place material restrictions on their ability to pay cash dividends to the Company. This will restrict our ability to pay cash dividends other than from cash on hand. See “Item 7 — Management’s Discussion and Analysis of Financial Condition and Results of Operations — Liquidity and Capital Resources — Restrictions on Distributions” and “Item 8 — Financial Statements and Supplementary Data — Notes to Consolidated Financial Statements — Note 8 — Long-Term Debt.” These excerpts taken from the LVS 10-K filed Feb 29, 2008. Dividends
We have not declared or paid any dividends since our formation
in August 2004. We do not expect to pay dividends on our common
stock in the future. We expect to retain our future earnings, if
any, for use in the operation and expansion of our business. Our
board of directors will determine whether to pay dividends in
the future based on conditions then existing, including our
earnings, financial condition and capital requirements, as well
as economic and other conditions our board may deem relevant.
Our ability to declare and pay dividends on our common stock is
subject to the requirements of Nevada law. In addition, we are a
parent company with limited business operations of our own.
Accordingly, our primary sources of cash are dividends and
distributions with respect to our ownership interest in our
subsidiaries that are derived from the earnings and cash flow
generated by our operating properties.
Our subsidiaries’ long-term debt arrangements place
material restrictions on their ability to pay cash dividends to
the Company. This will restrict our ability to pay cash
dividends other than from cash on hand. See
“Item 7 — Management’s Discussion and
Analysis of Financial Condition and Results of
Operations — Liquidity and Capital
Resources — Restrictions on Distributions” and
“Item 8 — Financial Statements and
Supplementary Data — Notes to Consolidated Financial
Statements — Note 8 — Long-Term
Debt.”
Dividends We have not declared or paid any dividends since our formation in August 2004. We do not expect to pay dividends on our common stock in the future. We expect to retain our future earnings, if any, for use in the operation and expansion of our business. Our board of directors will determine whether to pay dividends in the future based on conditions then existing, including our earnings, financial condition and capital requirements, as well as economic and other conditions our board may deem relevant. Our ability to declare and pay dividends on our common stock is subject to the requirements of Nevada law. In addition, we are a parent company with limited business operations of our own. Accordingly, our primary sources of cash are dividends and distributions with respect to our ownership interest in our subsidiaries that are derived from the earnings and cash flow generated by our operating properties. Our subsidiaries’ long-term debt arrangements place material restrictions on their ability to pay cash dividends to the Company. This will restrict our ability to pay cash dividends other than from cash on hand. See “Item 7 — Management’s Discussion and Analysis of Financial Condition and Results of Operations — Liquidity and Capital Resources — Restrictions on Distributions” and “Item 8 — Financial Statements and Supplementary Data — Notes to Consolidated Financial Statements — Note 8 — Long-Term Debt.” This excerpt taken from the LVS 10-K filed Feb 28, 2007. Note 16 —
Dividends
Immediately prior to the July 29, 2004 acquisition of
Interface by LVSLLC, Interface distributed approximately
$15.2 million to its sole stockholder, who is also the
Principal Stockholder of LVSC. The distribution was comprised of
$12.9 million of cash, $1.9 million of receivables due
from the Principal Stockholder and $0.4 million of certain
fixed and other assets. Additionally, as further described in
Note 2 — Summary of Significant Accounting
Policies, the Company declared tax distributions to its
stockholders of $129.0 million during 2004. There were no
dividends declared during 2006 and 2005.
This excerpt taken from the LVS 10-Q filed Nov 15, 2005. DividendsOur subsidiary Las Vegas Sands Opco declared and accrued dividends of $21.1 million in 2004 that were paid during January 2005. These dividends represented tax distributions to shareholders during 2004. The tax distributions were permitted under existing debt instruments while Las Vegas Sands Opco was a subchapter S corporation. As a result of the conversion to a taxable “C” corporation for income tax purposes, Las Vegas Sands Opco no longer makes such tax distributions. This excerpt taken from the LVS 10-Q filed Aug 11, 2005. DividendsOur subsidiary Las Vegas Sands Opco declared and accrued dividends of $21.1 million in 2004 that were paid during January 2005. These dividends represented tax distributions to shareholders during 2004. The tax distributions were permitted under existing debt instruments while Las Vegas Sands Opco was a subchapter S corporation. As a result of the conversion to a taxable “C” corporation for income tax purposes, Las Vegas Sands Opco no longer makes such tax distributions. This excerpt taken from the LVS 10-Q filed May 16, 2005. Dividends
Our subsidiary Las Vegas Sands Opco declared and accrued dividends of $21.1 million in 2004 that were paid during January 2005. These dividends represented tax distributions to shareholders during 2004. The tax distributions were permitted under existing debt instruments while Las Vegas Sands Opco was a subchapter S corporation. As a result of the conversion to a taxable “C” corporation for income tax purposes, Las Vegas Sands Opco no longer makes such tax distributions.
This excerpt taken from the LVS 10-K filed Apr 1, 2005. Note 17—Dividends
Immediately prior to the July 29, 2004 acquisition of Interface by LVSI as more fully described in Notes 1 and 8, Interface distributed approximately $15.2 million to its sole stockholder, who is also the Principal Stockholder of LVSC. The distribution was comprised of $12.9 million of cash, $1.9 million of receivables due from the Principal Stockholder and $.4 million of certain fixed and other assets. Additionally, as further described in Note 2, the Company declared tax distributions to its stockholders of $129.0 million and $4.2 million during 2004 and 2003, respectively. There were no dividends declared during 2002.
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