- Cedar Fair increases quarterly cash distribution rate
Cedar Fair increases quarterly cash distribution rate
Cedar Fair announces increase in its regular quarterly cash distribution to $0.48 per limited partner unit.
Wednesday, 06 February 2008
Cedar Fair Entertainment Company Press Release
SANDUSKY, OHIO, February 6, 2008 -- Cedar Fair Entertainment Company (NYSE: FUN), a leader in regional amusement resorts, water parks and active entertainment, today announced an increase in its regular quarterly cash distribution to $0.48 per limited partner unit. On an annualized basis, the Company’s distribution rate will increase from $1.90 (paid over the past four quarters) to $1.92 per unit.
The 21st consecutive year of distribution increases will begin with the distribution that will be declared in the second quarter of 2008. Cedar Fair has distributed approximately $1.3 billion, or $26.10 per limited partner unit, to investors since it began trading in April of 1987.
The Company also noted that it plans to issue a news release and host a conference call with analysts tomorrow, February 7, 2008, to discuss 2007 fourth-quarter and full-year earnings results.
Cedar Fair is a publicly traded partnership headquartered in Sandusky, Ohio, and one of the largest regional amusement-resort operators in the world. The Partnership owns and operates 11 amusement parks, six outdoor water parks, one indoor water park and five hotels. Amusement parks in the company’s Northern Region include two in Ohio: Cedar Point, consistently voted “Best Amusement Park in the World” in Amusement Today polls and Kings Island; as well as Canada’s Wonderland, near Toronto; Dorney Park, PA; Valleyfair, MN; and Michigan’s Adventure, MI. In the Southern Region are Kings Dominion, VA; Carowinds, NC; and Worlds of Fun, MO. Western parks in California include: Knott’s Berry Farm; Great America; and Gilroy Gardens, which is managed under contract. Also included in that region is Star Trek: The Experience, a Las Vegas-based interactive adventure.