Canterbury Park Holding Corporation Declares Quarterly Cash Dividend
December 15 2016 - 5:09PM
Business Wire
Canterbury Park Holding Corporation (the “Company”) (NASDAQ:
CPHC) today announced pursuant to its dividend policy, has declared
its quarterly cash dividend which will be in the amount of $0.05
per share and will be paid on January 13, 2017 to the holders of
record on December 30, 2016. At this quarterly rate, the annual
dividend is equivalent to $.20 per common share.
About Canterbury
Park:Canterbury Park Holding Corporation (the
Company) owns and operates Canterbury Park Racetrack and Card
Casino, Minnesota’s only thoroughbred and quarter horse racing
facility. The Company’s 69-day 2016 live race meet began on May
20th and ended September 17th. In addition, Canterbury Park’s Card
Casino hosts “unbanked” 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.
The Company was incorporated as a Minnesota corporation in
October 2015. The Company is a successor corporation to another
corporation, also named Canterbury Park Holding Corporation, that
was incorporated in 1994 (“CPHC”). Effective June 30, 2016 CPHC’s
business and operations were reorganized into a holding company
structure (the “Reorganization”) pursuant to an Agreement and Plan
of Merger dated as of March 1, 2016 that was approved by CPHC’s
shareholders on June 28, 2016. Pursuant to the Reorganization: The
details of the Reorganization have been the subject of previous
public announcements and filings with the Securities and Exchange
Commission. For purposes of this press release, when the term
“Company” is used with reference to information covering or related
to periods up to and including June 30, 2016, such term refers to
the operations of CPHC prior to the Reorganization.
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 or plans after the date the statements are
made to differ significantly from those indicated in the
forward-looking statements when made.
The Board of Directors will evaluate on a regular basis factors
such as cash flow, earnings, cash and cash equivalents on the
Company’s balance sheet, overall financial position, and other
relevant matters in its determination of whether to pay a regular
quarterly cash dividend and the amount of such dividend. In the
event the Board of directors determines it is not in the best
interests of the Company to pay a cash dividend, the Board may
decide to postpone, reduce or cancel such regular quarterly cash
dividend.
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version on businesswire.com: http://www.businesswire.com/news/home/20161215006469/en/
Canterbury Park Holding CorporationRandy Sampson,
952-445-7223
Canterbury Park (NASDAQ:CPHC)
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