Cash distribution announced for Cedar Fair stockholders

January 24, 2009

Sandusky Register

Cedar Fair Entertainment Co. announced its quarterly cash distribution this morning.

For the first time in 22 years, the amusement park company did not increase its regular quarterly cash distribution. It stayed steady at 48 cents per limited partner unit. On an annualized basis, the company's distribution rate will increase to $1.92.

For Cedar Fair shareholders, this means each share is worth 48 cents per quarter or a total of $1.92 for the year. The distribution will be paid Feb. 17.

"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 and CEO, in a news release. "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 ... we will complete this evaluation in the near future."

Kinzel said Cedar Fair plans to announce the company's full year earning results Feb. 12.

Cedar Fair, headquartered in Sandusky, is one of the largest amusement park operators in the world. It owns 11 amusement parks, including Cedar Point, six outdoor waterparks, one indoor waterpark and five hotels.