Las Vegas Sands announces multi-year share repurchase program

"I am extremely proud to announce that the company's outstanding financial performance, together with our expanding cash flows and strong balance sheet, has enabled us to initiate a multi-year share repurchase program," said Sheldon G. Adelson, chairman and CEO  of Las Vegas Sands.

"We believe the implementation of our share repurchase program, together with our previously established recurring dividend program, will allow us to maximize returns to shareholders in the years ahead," he added.

Adelson noted that the initial authorization for the share repurchase program is us$2 billion and the company expects to utilize the program in an opportunistic fashion.

In 2012, the company's Board of Directors established a recurring dividend of usus$1.00 per share per year, and increased the recurring dividend by 40 % to usus$1.40 per share in 2013. In addition, the company paid a special dividend of usus$2.75 per share in December 2012.

"It is gratifying that the company's businesses and cash flows have grown to a level that enabled the company to return nearly us$3.1 billion of capital to shareholders in 2012, while retaining ample liquidity to pursue future growth opportunities," Adelson concluded.