Canterbury Park Holding Corporation Announces Special Cash Dividend
December 07 2012 - 1:00PM
Business Wire
Canterbury Park Holding Corporation (NASDAQ:CPHC) today
announced that its Board of Directors have declared a special cash
dividend of $.25 per share of common stock. The dividend will be
payable to shareholders of record on December 17, 2012 and will be
distributed on December 31, 2012. The Company currently has
approximately 4,147,008 shares of common stock outstanding.
Randy Sampson, President and CEO, stated that “We are pleased to
pay a special dividend to our shareholders at this time. Our cash
position is strong and more than adequate to support our
requirements for working capital and capital expenditures. In
addition, our June 2012 Cooperative Marketing Agreement with the
Shakopee Mdewakanton Sioux Community gives us confidence about our
future prospects. The Board believes this special dividend is a
tax-efficient way to return value to our shareholders.”
Mr. Sampson added: “The Company has not adopted any plan or
policy with regard to paying dividends. Future dividend action by
our Board, if any, following payment of the December 31, 2012
dividend, will be based on the Company’s earnings, projected future
earnings and cash requirements when such dividend action is next
considered.”
About Canterbury Park:Canterbury Park Holding Corporation
owns and operates Canterbury Park Racetrack, Minnesota’s only
thoroughbred and quarter horse racing facility. The Company’s
62-day 2012 live race meet began on May 18th and ended September
3rd. In addition, Canterbury Park’s Card Casino hosts card games 24
hours a day, seven days a week, offering 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 facility in Shakopee, Minnesota. For more information
about the Company, please visit us at www.canterburypark.com.
Cautionary Statement:From time to time, in press releases
and in other communications to shareholders or the investing
public, the 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 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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