Cedar Fair declares 2016 first-quarter cash distribution

Company celebrates 30 years of consecutive cash distribution payments to investors.

Thursday, 25 February 2016

Cedar Fair Press Release

SANDUSKY, Ohio, Feb. 24, 2016 /PRNewswire/ -- Cedar Fair Entertainment Company (NYSE: FUN), a leader in regional amusement parks, water parks and active entertainment, today announced the declaration of a regular quarterly cash distribution of $0.825 per limited partner (LP) unit. This quarterly distribution rate is consistent with the Company's annualized distribution rate of $3.30 per LP unit announced in November of last year.

The distribution, which is payable March 28, 2016 to unitholders of record as of March 14, 2016, represents the Company's 30th consecutive year of paying a cash distribution to its unit holders.

Cedar Fair recently reported record performance for 2015 and provided a positive outlook for 2016. Commenting on these recent results, Matt Ouimet, Cedar Fair's president and chief executive officer, said, "We produced another outstanding year with solid increases across the board in attendance, guest spending and out-of-park revenues. We firmly believe our commitment to creating a compelling entertainment experience for the whole family has led us to our sixth consecutive year of record results and we fully expect this trend to continue into 2016 and beyond.

"We have a solid foundation which we can continue to build upon," continued Ouimet. "Our strong and loyal season pass base continues to grow, our incentivized sales teams continue to identify new prospects, and our CRM platform is now populated with historical data allowing us to communicate more effectively with guests who have committed to a visit and identify prospective guests more efficiently. We remain focused on creating long-term value for our unitholders through distribution increases and deploying capital back into our business. This balanced approach is what has allowed us to distribute more than $2.1 billion to our unitholders over the past 30 years while also producing record results. We remain committed to this strategy and believe it will continue to produce attractive returns in the future."