CityCenter Approves $400 Mln Special Dividend - Quick Facts

(RTTNews) - MGM Resorts International (MGM) and Infinity World Development Corp. announced a special dividend and the adoption of an annual distribution policy by CityCenter Holdings, LLC.

CityCenter approved a $400 million special dividend, which will be paid on or about April 30, 2015. The owners will each receive $200 million, representing their pro rata share.

In addition, CityCenter has approved the adoption of a regular dividend policy pursuant to which it will make annual distributions of up to 35 percent of excess cash flow subject to approval by the CityCenter board of directors.