- Boyd Gaming Corporation recently increased its quarterly dividend to US$0.20 per share from US$0.18, payable on April 15, 2026, to shareholders of record on March 16, 2026, reinforcing its pattern of returning cash to investors.
- This fourth consecutive dividend hike, alongside record earnings, balance sheet strengthening, and ongoing online and property investments, highlights management’s emphasis on combining growth projects with regular cash distributions.
- We’ll now examine how Boyd Gaming’s higher quarterly dividend, alongside its ongoing investment program, reshapes the company’s investment narrative.
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Boyd Gaming Investment Narrative Recap
To own Boyd Gaming, you need to believe in its ability to keep generating solid cash flow from a diversified casino and online gaming footprint while managing high debt and competitive pressure. The latest dividend increase supports the near term capital return story but does not materially change the key catalyst, which is execution on its growth and investment pipeline, or the main risk, which is earnings sensitivity to competition and regional economic softness.
The most relevant context for this higher dividend is Boyd’s 2025 results, where revenue reached US$4,091.99 million and net income was US$1,843.27 million, alongside significant capital spending plans of US$650 million to US$700 million for 2026. That mix of ongoing investment and rising cash returns sits at the heart of the current thesis, but whether it offsets pressures at properties like The Orleans will depend on how well new projects perform.
However, investors should be aware that continued weakness at key properties and regions could…
Read the full narrative on Boyd Gaming (it’s free!)
Boyd Gaming’s narrative projects $3.5 billion revenue and $563.3 million earnings by 2028. This implies a 4.7% yearly revenue decline and a slight $1.2 million earnings decrease from $564.5 million today.
Uncover how Boyd Gaming’s forecasts yield a $94.47 fair value, a 10% upside to its current price.
Exploring Other Perspectives
Five fair value estimates from the Simply Wall St Community span roughly US$64 to US$94 per share, showing how differently individual investors view Boyd Gaming. Set against this, the ongoing risk that competitive pressures could continue to affect revenue and EBITDAR at properties like The Orleans may influence how confidently you view the company’s ability to support both investments and a growing dividend over time.
Explore 5 other fair value estimates on Boyd Gaming – why the stock might be worth as much as 10% more than the current price!
The Verdict Is Yours
Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so go with your instincts.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data
and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your
financial situation. We aim to bring you long-term focused analysis driven by fundamental data.
Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
Simply Wall St has no position in any stocks mentioned.
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