Posted Wednesday, February 27, 2013 9:01 AM | Contributed by Jeff
[Ed. note: The following is an excerpt from a press release. -J]
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 $0.625 per LP unit. This quarterly distribution rate is consistent with the Company's increased annualized distribution rate of $2.50 per LP unit announced in November of last year.
The distribution, which is payable March 25, 2013, to unitholders of record as of March 15, 2013, represents the Company's 27th consecutive year of paying a cash distribution to its unitholders.
"Following our third year of record performance, we are pleased to announce a more than 50% increase in our quarterly distribution payment," said Matt Ouimet, Cedar Fair's president and chief executive officer. "This substantial increase demonstrates the financial strength of the Company, our commitment to our unitholders, the ongoing success of our value creation strategy and the confidence of our management team as we head into the 2013 operating season."
Read the entire press release from Cedar Fair.