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The Marcus Corporation Increases Quarterly Dividend
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Tags
dividends
MILWAUKEE--(BUSINESS WIRE)--
Directors of The Marcus Corporation (NYSE: MCS) today declared a regular quarterly cash dividend of $0.07 per share of common stock, a 40% increase from the prior dividend rate of $0.05 per share of common stock. The dividend will be paid September 15, 2023, to shareholders of record on August 25, 2023.
“The Marcus Corporation has a long history of returning capital to shareholders with 45 years of consecutive dividend payments prior to the pandemic,” said Gregory S. Marcus, chairman, president and chief executive officer of The Marcus Corporation. “While we paused dividend payments during the pandemic, we reinstated the quarterly cash dividend in the third quarter of fiscal 2022. Only a year later, we are able to increase the cash dividend. This underscores the confidence the Board of Directors has in both of our businesses and our strong financial performance and honors our long-standing commitment to returning value to our shareholders.”
The Board of Directors also declared a dividend of $0.064 per share on the Class B common stock. The dividend on the Class B common stock, which is not publicly traded, will also be paid September 15, 2023, to shareholders of record on August 25, 2023.
About The Marcus Corporation
Headquartered in Milwaukee, The Marcus Corporation is a leader in the lodging and entertainment industries, with significant company-owned real estate assets. The Marcus Corporation’s theatre division, Marcus Theatres®, is the fourth largest theatre circuit in the U.S. and currently owns or operates 1,027 screens at 82 locations in 17 states under the Marcus Theatres, Movie Tavern® by Marcus and BistroPlex® brands. The company’s lodging division, Marcus® Hotels & Resorts, owns and/or manages 16 hotels, resorts and other properties in eight states. For more information, please visit the company’s website at www.marcuscorp.com.
