Canterbury Park Holding Corporation Announces Quarterly Cash Dividend

Rhea-AI Summary

Canterbury Park Holding (NASDAQ: CPHC) has announced a quarterly cash dividend of $0.07 per share, payable on January 14, 2025, to stockholders of record on December 31, 2024. The annual dividend at this rate equals $0.28 per common share.

The company operates Canterbury Park Racetrack and Casino in Shakopee, Minnesota, offering live racing from May to September, 24/7 casino card games, and simulcast horse racing. Additionally, Canterbury is developing approximately 140 acres of underutilized land surrounding the Racetrack through various mixed-use development opportunities and joint ventures.

Positive

• Consistent dividend payment maintained at $0.07 per share quarterly
• Diversified revenue streams from racing, casino operations, and land development
• Strategic development of 140 acres of underutilized land for potential value creation

Negative

• None.

SHAKOPEE, Minn., Dec. 16, 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 $0.07 per share that will be paid on January 14, 2025 to stockholders of record on December 31, 2024. 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 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.

FAQ

What is the dividend amount and payment date for CPHC's latest quarterly dividend?

Canterbury Park announced a quarterly dividend of $0.07 per share, payable on January 14, 2025, to stockholders of record on December 31, 2024.

What is the annual dividend yield for Canterbury Park (CPHC) based on the current quarterly rate?

Based on the quarterly dividend of $0.07 per share, the annual dividend equals $0.28 per common share.

What are Canterbury Park's (CPHC) main business operations?

Canterbury Park operates a racetrack and casino in Shakopee, Minnesota, offering live racing (May-September), 24/7 casino card games, simulcast horse racing, and is developing 140 acres of surrounding land.

What is Canterbury Park's (CPHC) development strategy for its unused land?

Canterbury is pursuing mixed-use development opportunities for approximately 140 acres of underutilized land surrounding the Racetrack, both directly and through joint ventures.