Thursday, April 9, 2015
MGM announced today a $400M special dividend plus an ongoing regular dividend equal to 35% of the company's excess free cash flow.
Background to the Activism
March 17th Land and Buildings proposed MGM convert to a REIT to unlock value and nominated four to the board and Issued a presentation indicating a 70% upside in stock value
April 1st Land and Buildings filed preliminary proxy materials nominating four people to the board