CANTERBURY PARK HOLDING CORPORATION ANNOUNCES QUARTERLY CASH DIVIDEND

Rhea-AI Summary

Canterbury Park Holding Corporation (NASDAQ: CPHC) announced a quarterly cash dividend of $0.07 per share, payable on April 14, 2022, to stockholders of record on March 31, 2022. This results in an annual dividend of $0.28 per share. The Company, which operates a racetrack and casino in Minnesota, is also pursuing plans to develop approximately 140 acres of underutilized land around the facility, aiming to enhance shareholder value through potential mixed-use projects.

Positive

• Quarterly cash dividend of $0.07 per share enhances shareholder income.
• Annual dividend of $0.28 per share indicates consistent return to shareholders.
• Ongoing development of 140 acres of underutilized land may increase future revenue.

Negative

• None.

SHAKOPEE, March 18, 2022 (GLOBE NEWSWIRE) -- Canterbury Park Holding Corporation (“Canterbury” or the “Company”) (NASDAQ: CPHC), today announced that the Company’s Board of Directors, pursuant to its dividend policy, approved a quarterly cash dividend of $0.07 per share that will be paid on April 14, 2022 to stockholders of record on March 31, 2022. At this quarterly rate, the annual dividend is equivalent to $0.28 per common share.

About Canterbury Park

Canterbury Park Holding Corporation (Nasdaq: CPHC) owns and operates Canterbury Park Racetrack and Card Casino in Shakopee, Minnesota, the only thoroughbred and quarter horse racing facility in the State. The Company generally offers live racing from May to December. The Card Casino hosts card games 24 hours a day, seven days a week, dealing both poker and table games. The Company also conducts year-round wagering on simulcast horse racing and hosts a variety of other entertainment and special events at its Shakopee facility. The Company is also pursuing a strategy to enhance shareholder value by the ongoing development of approximately 140 acres of underutilized land surrounding the Racetrack that was originally designated for a project known as Canterbury Commons™. The Company is pursuing several mixed-use development opportunities for the remaining underutilized land, directly and through joint ventures. For more information about the Company, please visit www.canterburypark.com.

Cautionary Statement

From time to time, in press releases and in other communications to shareholders or the investing public, Canterbury Park Holding Corporation may make forward-looking statements concerning possible or anticipated future financial performance, business activities or plans based on management’s beliefs and assumptions. These forward looking statements are typically preceded by the words such as "believes," "expects," "anticipates," "intends" or similar expressions. Shareholders and the investing public should understand that these forward-looking statements are subject to risks and uncertainties, including those disclosed in our periodic filings with the Securities and Exchange Commission, which could cause actual performance, activities, future dividends or plans after the date the statements are made to differ significantly from those indicated in the forward-looking statements when made.

FAQ

What is the dividend amount announced by CPHC?

Canterbury Park announced a quarterly cash dividend of $0.07 per share.

When will the dividend be paid to shareholders?

The dividend will be paid on April 14, 2022.

Who is eligible for the CPHC dividend?

Stockholders of record on March 31, 2022, are eligible for the dividend.

What is the annual dividend yield for CPHC?

The annual dividend yield for CPHC is $0.28 per share.

What development plans does CPHC have?

CPHC is pursuing development opportunities for approximately 140 acres of underutilized land around the racetrack.