Las Vegas Sands dividend
MyStockButler's October 2026 analysis: Las Vegas Sands plans to move its dividend to $0.36 quarterly in 2027, or $1.44 thereafter. In 2025, dividends and repurchases exceeded free cash flow, so combined shareholder payments were not fully covered by free cash flow.
How much does Las Vegas Sands pay per share?
Dividends reflect the planned move to $0.36 quarterly in 2027. The base case pays $1.38 through 2027 and $1.44 thereafter. The bear case cuts payments to $1.20, then $1.00 and $0.80 as capex and debt compete for cash. The bull case reaches $1.60 and then $1.80 because stronger operations support further increases. The history of suspension during the disruption makes the downside credible.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| EPS, diluted | 2.35 | 1.96 | 1.60 | -1.40 | -1.51 |
| Real free cash flow per share | 2.60 | 2.15 | 2.83 | -2.14 | -1.43 |
| Free cash flow per share | 2.68 | 2.22 | 2.89 | -2.09 | -1.40 |
| − Dividends paid, per share | 1.00 | 0.80 | 0.40 | 0.00 | 0.00 |
| − Share buybacks, per share | 3.20 | 2.37 | 0.66 | 0.00 | 0.00 |
| = FCF not paid out, per share | 1.83 |
What this means. The company paid shareholders more cash than it generated in free cash flow in some years, so it had to use other cash or borrow.
How much would Las Vegas Sands's dividend pay you?
$10,000 invested in Las Vegas Sands at its 3.2% dividend yield (our report of October 22, 2026) pays $320.00 in the first year, before tax. If its dividend stays flat and the dividends are reinvested, year 10 pays $424.88, with $3,702.41 received in all.
Before tax. Past dividend growth is not a promise. Information only, not investment advice.
Is Las Vegas Sands' dividend covered by its cash?
Distributions tell a sharper story. Dividends and repurchases exceeded free cash flow in 2025, even after excluding the Singapore payment. That can be acceptable during expansion, but it means the company relied on its balance sheet or future cash generation. A specialist asks whether cash per share rose because resorts improved, investment fell or the share count shrank.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Free cash flow | 1,855 | 1,637 | 2,210 | -1,595 | -1,071 |
| − Dividends paid | 695 | 590 | 305 | 0 | 0 |
| − Share buybacks | 2,217 | 1,750 | 505 | 0 | 0 |
| = Free cash flow not paid out | 1,400 | ||||
| = Paid out more than the free cash flow | 1,195 | 703 | 1,595 | 1,071 | |
| Paid out, % of free cash flow | 157.0% | 142.9% | 36.7% | not meaningful | not meaningful |
What this means. The company's own net debt is slightly lower because it leaves out finance leases and some borrowing costs that our count includes.
What could change Las Vegas Sands' dividend?
Net debt rises in the base case from $13,414 million to $14,744 million. The bear case stays near $12,800 million because buybacks shrink. The bull case reaches $15,708 million because it combines strong earnings with $2.5 billion of annual repurchases. Management guides $1,950 million of capex for 2027. The forecast assumes $2,200 million in 2028 and $2,400 million in 2029 because no later guide is supplied.
What is Las Vegas Sands' dividend yield today?
| Today (Oct 22, 2026) | |
|---|---|
| Share price | 37.51 |
| Market value (calculated) | 23,518.77 |
| Free cash flow yield (calculated) | 7.9% |
| Real free cash flow yield (calculated) | 7.7% |
| Dividend yield (calculated) | 3.2% |
What this means. The share price is labeled October 22, 2026, but it actually uses the market closing price from October 21, 2026.