Posted July 14, 2008, 4:51P |
Contributed by Jeff
Cedar Fair Entertainment Company today announced the declaration of a regular quarterly cash distribution of 48 cents per limited-partner unit, consistent with the Company’s annualized distribution rate of $1.92 per unit that was announced in March. Providing an update on trends through the July 4th weekend on a comparable basis, excluding Geauga Lake, Kinzel noted that attendance and in-park revenues were comparable to last year.
Read the entire press release from Cedar Fair.
At today's FUN closing price of 16.75, that's about 11.5% return.
^What? It's not like they just upped it all of a sudden. They've been consistantly providing dividends (since the cmpany has gone public i believe) and the dividend has never gone down. Why is it that every quarter, no matter what someone always has something pesimistic to say. Yet every following quarter there's another reinvested distribution in my pocket.
It looks like they have the cash flow and revenues to back it up, so why shouldn't they maintain the distribution?
Maybe the idea that the economy is so bad that people would hide in their basements and never leave their houses again was over-hyped.
^That's Crazy Talk.
RGB:
Maybe the idea that the economy is so bad that people would hide in their basements and never leave their houses again was over-hyped.
Your ol' buddy Gonch has been saying that all along.