Boyd Gaming Corporation (BYD) will raise its quarterly dividend by 20 percent to $0.06 per share. The company initiated a $0.05 per share quarterly dividend last year and this marks the first dividend hike since.

The next dividend will be paid on July 15, 2018 to shareholders of record on June 29, 2018. Based on a $0.24 per share annual dividend amount the new yield for BYD is 0.7%.

Keith Smith, President and Chief Executive Officer of Boyd Gaming, said, "Thanks to our strong and growing free cash flow, we are able to strengthen our ongoing capital return program through a 20% increase in our cash dividend. We remain committed to a well-balanced approach to creating shareholder value through investing in accretive growth opportunities, continued deleveraging, and returning capital to shareholders through a combination of share repurchases and dividend payments."

Boyd Gaming Corporation is a multi-jurisdictional gaming company, operating gaming entertainment properties in seven states. Headquartered in Las Vegas, Boyd operates wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio and Pennsylvania. The company derives the majority of its revenues from its gaming operations, with Food & Beverage revenues being its next most significant revenue source. Boyd Gaming Corporation has been in operation since 1975 and initiated a quarterly dividend in 2017.