Cedar Fair Declares 2014 First Quarter Cash Distribution
SANDUSKY, Ohio, Feb. 26, 2014 /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 $0.70 per LP unit. This quarterly distribution rate is consistent with the Company's increased annualized distribution rate of $2.80 per LP unit announced in November of last year.
The distribution, which is payable March 25, 2014 to unitholders of record as of March 14, 2014, represents the Company's 28th consecutive year of paying a cash distribution to its unitholders.
The Company recently reported record performance for 2013 and provided a positive outlook for 2014. Commenting on these results, Matt Ouimet, Cedar Fair's president and chief executive officer, said, "2013 was a remarkable year for Cedar Fair and we expect this momentum to continue into 2014. Our long-term FUNforward strategy is working well as we experienced solid increases across all aspects of our business this year, including record attendance and in-park guest per capita spending. As we look ahead, we expect 2014 to be another record year in terms of net revenues and Adjusted EBITDA, and we are confident we will continue to build on our decades of success for many years to come."
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.
This news release and prior releases are available online at www.cedarfair.com.
SOURCE Cedar Fair Entertainment Company