Canterbury Park Holding Corporation Announces Quarterly Cash Dividend

Rhea-AI Summary

Canterbury Park Holding Corporation has announced a quarterly cash dividend of $0.07 per share, payable on July 14, 2025, to stockholders of record on June 30, 2025. This quarterly dividend equates to an annual dividend of $0.28 per common share. Canterbury Park operates the only thoroughbred and quarter horse racing facility in Minnesota, offering live racing from May to September. The company's casino operates 24/7, featuring poker and table games. Additionally, Canterbury is developing approximately 140 acres of underutilized land surrounding the racetrack through various mixed-use development opportunities, both directly and through joint ventures.

Positive

• Regular dividend payments demonstrate financial stability
• Diversified revenue streams from racing, casino, and land development
• Strategic development of 140 acres of land could create additional value

Negative

• Relatively small dividend amount of $0.07 per share quarterly
• Seasonal racing operations limited to May-September
• Single-location business model increases geographic concentration risk

SHAKOPEE, Minn., June 13, 2025 (GLOBE NEWSWIRE) -- Canterbury Park Holding Corporation (“Canterbury” or the “Company”) (NASDAQ: CPHC), today announced that the Company’s Board of Directors, pursuant to its dividend policy, approved a quarterly cash dividend of $0.07 per share that will be paid on July 14, 2025 to stockholders of record on June 30, 2025. At this quarterly rate, the annual dividend is equivalent to $0.28 per common share.

About Canterbury Park

Canterbury Park Holding Corporation (Nasdaq: CPHC) owns and operates Canterbury Park Racetrack and Casino in Shakopee, Minnesota, the only thoroughbred and quarter horse racing facility in the State. The Company generally offers live racing from May to September. The Casino hosts card games 24 hours a day, seven days a week, dealing both poker and table games. The Company also conducts year-round wagering on simulcast horse racing and hosts a variety of other entertainment and special events at its Shakopee facility. The Company is also pursuing a strategy to enhance shareholder value by the ongoing development of approximately 140 acres of underutilized land surrounding the Racetrack that was originally designated for a project known as Canterbury Commons™. The Company is pursuing several mixed-use development opportunities for the remaining underutilized land, directly and through joint ventures. For more information about the Company, please visit www.canterburypark.com.

Cautionary Statement

From time to time, in press releases and in other communications to shareholders or the investing public, Canterbury Park Holding Corporation may make forward-looking statements concerning possible or anticipated future financial performance, business activities or plans based on management’s beliefs and assumptions. These forward looking statements are typically preceded by the words such as "believes," "expects," "anticipates," "intends" or similar expressions. Shareholders and the investing public should understand that these forward-looking statements are subject to risks and uncertainties, including those disclosed in our periodic filings with the Securities and Exchange Commission, which could cause actual performance, activities, future dividends or plans after the date the statements are made to differ significantly from those indicated in the forward-looking statements when made.

Investor Contacts:

Randy Dehmer                                                        
Senior Vice President and Chief Financial Officer                        
Canterbury Park Holding Corporation                                
952-233-4828 or investorrelations@canterburypark.com

Richard Land, Jim Leahy
JCIR
212-835-8500 or cphc@jcir.com

FAQ

What is Canterbury Park's (CPHC) latest quarterly dividend amount?

Canterbury Park announced a quarterly dividend of $0.07 per share, equivalent to $0.28 annually.

When will CPHC's latest dividend be paid?

The dividend will be paid on July 14, 2025, to stockholders of record as of June 30, 2025.

What are Canterbury Park's main business operations?

Canterbury Park operates Minnesota's only thoroughbred and quarter horse racing facility, a 24/7 casino offering poker and table games, and is developing 140 acres of surrounding land.

How many acres of land is Canterbury Park developing?

Canterbury Park is developing approximately 140 acres of underutilized land surrounding its racetrack through mixed-use development opportunities.

What is the annual dividend yield for CPHC based on the new dividend?

The annual dividend is $0.28 per share, but the yield percentage would depend on the current stock price, which is not provided in the press release.