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CEDAR FAIR DECLARES FOURTH QUARTER CASH DISTRIBUTION
January 23, 2009
A Cedar Fair Press Release
SANDUSKY, OHIO, January 23, 2009 -- 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
$0.48 per limited-partner unit, representing an annualized
distribution rate of $1.92 per unit. The distribution will
be paid on February 17, 2009 to holders of record February
4, 2009.
“As we enter 2009 it is apparent we will face many of the
same market challenges we faced during 2008,” said Dick
Kinzel, Cedar Fair’s chairman, president and chief executive
officer. “In light of the weak economy and uncertain credit
environment, we are considering alternatives to reduce the
Company’s debt levels and better position the Company for
future growth. One such alternative includes reconsidering
the Company’s distribution policy based on its overall
long-term capital structure objectives. We will complete
this evaluation in the near future and will not make any
decisions on the level of future distributions until that
review is completed and reviewed by the board.”
Kinzel concluded by noting the company plans to issue a news
release announcing its 2008 fourth quarter and full year
earnings results before market hours on Thursday, February
12, 2009. The company will then host a conference call with
analysts at 10:00 a.m. Eastern Time, which will be web cast
live in “listen only” mode via the Cedar Fair web site (www.cedarfair.com).
It will also be available for replay starting at
approximately 1:00 p.m. ET, Thursday, February 12, 2009,
until 11:59 p.m. ET, Thursday, February 26, 2009. In order
to access the replay of the earnings call, please dial
1-800-406-7325 followed by the access code 3963219.
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, six outdoor water parks,
one indoor water park and five hotels. Amusement parks in
the company’s northern region include two in Ohio: Cedar
Point, consistently voted “Best Amusement Park in the World”
in Amusement Today polls; and Kings Island; as well as
Canada’s Wonderland, near Toronto; Dorney Park, PA;
Valleyfair, MN; and Michigan’s Adventure, MI. In the
southern region are Kings Dominion, VA; Carowinds, NC; and
Worlds of Fun, MO. Western parks in California include:
Knott’s Berry Farm; Great America; and Gilroy Gardens, which
is managed under contract. |
