Cedar Fair Declares 2015 First Quarter Cash Distribution
SANDUSKY, Ohio, Feb. 25, 2015 /PRNewswire/ -- Cedar Fair Entertainment Company (NYSE: FUN), a leader in regional amusement parks, water parks and active entertainment, today announced the declaration of a regular quarterly cash distribution of $0.75 per limited partner (LP) unit. This quarterly distribution rate is consistent with the Company's annualized distribution rate of $3.00 per LP unit announced in November of last year.
The distribution, which is payable March 25, 2015 to unitholders of record as of March 13, 2015, represents the Company's 29th consecutive year of paying a cash distribution to its unitholders.
Cedar Fair recently reported record performance for 2014 and provided a positive outlook for 2015. Commenting on these recent results, Matt Ouimet, Cedar Fair's president and chief executive officer, said, "We had a very strong finish to 2014, which reaffirms our confidence in our long-term business strategy and the strength and loyalty of our consumer base. During this past year, we were also able to advance important long-term initiatives and we are confident these initiatives, combined with our strong capital program, will make 2015 another record year for Cedar Fair."
About Cedar Fair
Cedar Fair is a publicly traded partnership headquartered in Sandusky, Ohio, and one of the largest regional amusement-resort operators in the world. The Company owns and operates 11 amusement parks, three outdoor water parks, one indoor water park and five hotels. Its parks are located in Ohio, California, North Carolina, South Carolina, Virginia, Pennsylvania, Minnesota, Missouri, Michigan, and Toronto, Ontario. Cedar Fair also operates the Gilroy Gardens Family Theme Park in California under a management contract. Cedar Fair's flagship park, Cedar Point, has been consistently voted the "Best Amusement Park in the World" in a prestigious annual poll conducted by Amusement Today newspaper.
Forward-Looking Statements
Some of the statements contained in this news release constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, including statements as to the Company's expectations, beliefs and strategies regarding the future. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors, including general economic conditions, adverse weather conditions, competition for consumer leisure time and spending, unanticipated construction delays, changes in the Company's capital investment plans and projects and other factors discussed from time to time by the Company in reports filed with the Securities and Exchange Commission (the "SEC") could affect attendance at the Company's parks and cause actual results to differ materially from the Company's expectations. Additional information on risk factors that may affect the business and financial results of the Company can be found in the Company's Annual Report on Form 10-K and in the filings of the Company made from time to time with the SEC. The Company undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.
This news release and prior releases are available online at http://ir.cedarfair.com.
| Contacts: |
Stacy Frole |
(419) 627-2227 |
SOURCE Cedar Fair Entertainment Company
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