Canterbury Park Holding Corporation Announces Quarterly Cash Dividend

Rhea-AI Summary

Canterbury Park Holding Corporation (CPHC) announced a quarterly cash dividend of $0.07 per share, set to be paid on July 14, 2022, to shareholders of record by June 30, 2022. This dividend results in an annual rate of $0.28 per common share. The company operates Canterbury Park Racetrack and Casino in Minnesota, offering live racing and 24/7 card games. Additionally, Canterbury is exploring development opportunities on approximately 140 acres of underutilized land around the racetrack to enhance shareholder value.

Positive

• Quarterly cash dividend of $0.07 per share, indicating a consistent return for shareholders.
• Strategic plans to develop 140 acres of land to enhance shareholder value.

Negative

• None.

SHAKOPEE, Minn., June 14, 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 July 14, 2022 to stockholders of record on June 30, 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 declared by Canterbury Park Holding Corporation?

Canterbury Park Holding Corporation declared a quarterly dividend of $0.07 per share.

When will the dividend be paid to shareholders of CPHC?

The dividend will be paid on July 14, 2022, to shareholders of record on June 30, 2022.

What is the annual dividend rate for CPHC?

The annual dividend rate for Canterbury Park Holding Corporation is $0.28 per common share.

What development plans does Canterbury Park have for its land?

Canterbury Park is pursuing mixed-use development opportunities on approximately 140 acres of underutilized land surrounding the racetrack.