Cedar Fair maintains distribution, will "reconsider" its future

Posted Friday, January 23, 2009 9:13 AM | Contributed by Jeff

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 $0.48 per limited-partner unit, representing an annualized distribution rate of $1.92 per unit. The distribution will be paid on February 17, 2009 to holders of record February 4, 2009.

“As we enter 2009 it is apparent we will face many of the same market challenges we faced during 2008,” said Dick Kinzel, Cedar Fair’s chairman, president and chief executive officer. “In light of the weak economy and uncertain credit environment, we are considering alternatives to reduce the Company’s debt levels and better position the Company for future growth. One such alternative includes reconsidering the Company’s distribution policy based on its overall long-term capital structure objectives. We will complete this evaluation in the near future and will not make any decisions on the level of future distributions until that review is completed and reviewed by the board.”

Read the press release from Cedar Fair.

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