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SOURCE Cedar Fair Entertainment Company
- Increases quarterly cash distribution by more than 50% to $0.625 per Limited Partner (LP) unit
- Expects to pay record distribution of $2.50 per LP unit in 2013
SANDUSKY, Ohio, Feb. 27, 2013 /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 $0.625 per LP unit. This quarterly distribution rate is consistent with the Company's increased annualized distribution rate of $2.50 per LP unit announced in November of last year.
The distribution, which is payable March 25, 2013, to unitholders of record as of March 15, 2013, represents the Company's 27th consecutive year of paying a cash distribution to its unitholders.
"Following our third year of record performance, we are pleased to announce a more than 50% increase in our quarterly distribution payment," said Matt Ouimet, Cedar Fair's president and chief executive officer. "This substantial increase demonstrates the financial strength of the Company, our commitment to our unitholders, the ongoing success of our value creation strategy and the confidence of our management team as we head into the 2013 operating season."
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, four 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.
This news release and prior releases are available online at www.cedarfair.com.
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