CANTERBURY PARK HOLDING CORPORATION ANNOUNCES QUARTERLY CASH DIVIDEND

Rhea-AI Summary

Canterbury Park Holding Corporation (NASDAQ: CPHC) has declared a quarterly cash dividend of $0.07 per share, payable on January 13, 2023, to stockholders of record by December 30, 2022. This dividend translates to an annual rate of $0.28 per share. The company operates Canterbury Park Racetrack and Card Casino in Minnesota, focusing on live racing and year-round wagering, while also exploring development opportunities for approximately 140 acres of land to enhance shareholder value.

Positive

• Dividend of $0.07 per share increases shareholder income.
• Annual dividend rate set at $0.28 per share.
• Development of 140 acres of underutilized land to enhance shareholder value.

Negative

• None.

SHAKOPEE, Minn., Dec. 19, 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 January 13, 2023 to stockholders of record on December 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 September. 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 payment date for CPHC?

The dividend will be paid on January 13, 2023.

What is the amount of the quarterly dividend for CPHC?

The quarterly dividend is $0.07 per share.

What is the annual dividend amount for CPHC?

The annual dividend amount is $0.28 per share.

When is the record date for the CPHC dividend?

The record date for the dividend is December 30, 2022.

What developments is CPHC pursuing?

CPHC is pursuing mixed-use development opportunities on 140 acres of underutilized land.