Canterbury Park Holding Corporation Announces Quarterly Cash Dividend
Canterbury Park Holding (NASDAQ: CPHC) announced a quarterly cash dividend of $0.07 per share, payable on July 12, 2024, to shareholders of record on June 28, 2024. This brings the annual dividend to $0.28 per share.
Canterbury Park, located in Shakopee, Minnesota, operates the state's only thoroughbred and quarter horse racing facility, along with a casino that offers 24/7 card games. The company also provides year-round simulcast horse racing wagering and hosts various entertainment events.
Additionally, Canterbury Park is developing approximately 140 acres of land around the racetrack, originally designated for Canterbury Commons™, to enhance shareholder value through mixed-use development opportunities.
- Quarterly cash dividend of $0.07 per share announced.
- Annual dividend equivalent to $0.28 per share.
- Canterbury Park operates the only thoroughbred and quarter horse racing facility in Minnesota.
- 24/7 card game offerings in the casino.
- Year-round wagering on simulcast horse racing.
- Development of 140 acres of land, enhancing shareholder value through mixed-use opportunities.
- The dividend yield may be considered low by some investors.
- Ongoing development projects could incur substantial costs and risks.
- Dependence on the success of Canterbury Commons™ for future growth.
SHAKOPEE, Minn., June 12, 2024 (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
About Canterbury Park
Canterbury Park Holding Corporation (Nasdaq: CPHC) owns and operates Canterbury Park Racetrack and Casino in Shakopee, Minnesota, the only thoroughbred and quarter horse racing facility in the State. The Company generally offers live racing from May to September. The 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.
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