Boyd Gaming Corporation (BYD) will raise its quarterly dividend by 16.7 percent to $0.07 per share in 2019. This marks the second consecutive year of double digit dividend growth since a quarterly dividend was initiated in 2017.

The next dividend is payable on July 15, 2019, to shareholders of record at the close of business on June 17, 2019. A new annual rate of 28 cents per share yields 1.1% at a stock price of $25.73.

Keith Smith, President and Chief Executive Officer of Boyd Gaming, said: "We are pleased that continued strength in our operational results and contributions from our recent acquisitions allow us to increase our dividend for the second consecutive year.  Our robust and growing free cash flow gives us the ability to continue pursuing a balanced approach to creating shareholder value through investments in accretive growth opportunities, deleveraging, share repurchases and dividends."

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.