RailRider Posted January 23, 2009 Share Posted January 23, 2009 Cedar Fair Quote Link to comment Share on other sites More sharing options...
Captain Picard Posted January 23, 2009 Share Posted January 23, 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 To me it looks like Cedar Fair will be in the single digits this time next year. Quote Link to comment Share on other sites More sharing options...
CoastersRZ Posted January 23, 2009 Share Posted January 23, 2009 Well, saying that Cedar Fair units will be trading in the single digits is hard to predict. However, it is clear that given the current situation, Cedar Fair is considering reducing their cash distributions in order to reduce their debt levels. Is that necessarily a bad thing? No. Will it hurt the unit price? Undoubtedly. But in the long run, it may be better to issue less in terms of cash distributions if that is best for the long term health of the company. If they do opt to lower their cash distribution, it would mark the first time in many many years in which they not only did not raise the cash distribution, but actually lowered it. They have prided themselves on the number of years that they have been able to raise their cash distribution. Quote Link to comment Share on other sites More sharing options...
BoddaH1994 Posted January 23, 2009 Share Posted January 23, 2009 When stocks are low, it's simply time to buy. The beauty of the stock market is that unless you do dumb things, the only money you can loose is the money you put into it. Quote Link to comment Share on other sites More sharing options...
Captain Picard Posted January 23, 2009 Share Posted January 23, 2009 Some stocks are low for a reason and you shouldn't buy them. You can loose your money doing dumb things. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted January 23, 2009 Share Posted January 23, 2009 "Don't gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don't go up, don't buy it." --Will Rogers Note also that for the first time in 22 years, FUN did not increase its distributions. See this: http://www.sanduskyregister.com/articles/2...ont/1104850.txt Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted January 23, 2009 Share Posted January 23, 2009 Also, the market was not amused with today's pronouncements...in a day when WOLF was up more than ten percent and SIX lost a penny (about three percent), FUN lost 10.45%, or $1.39 to close at $11.91 a unit... Quote Link to comment Share on other sites More sharing options...
Cory Butcher Posted January 23, 2009 Share Posted January 23, 2009 Note also that for the first time in 22 years, FUN did not increase its distributions. See this: http://www.sanduskyregister.com/articles/2...ont/1104850.txt Actually, that's not quite true. Cedar Fair just declared Fourth Quarter distribution for the end of fiscal year 2008. They have NOT declared First quarter distribution for this fiscal year or the total per share amount for this fiscal year as of yet. More than likely that will not be done until March/April. Here is the record of distributions for Cedar Fair: http://www.cedarfair.com/ir/financial/distribution/ So, they only declared 4th Quarter which is inline with the previous declaration of $1.92 per year. They have not yet released fiscal year 2009's distribution info. The distributions stay consistent each quarter over the year. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted January 23, 2009 Share Posted January 23, 2009 I only cited what the Sandusky Register reported...and I wondered myself... Quote Link to comment Share on other sites More sharing options...
Cory Butcher Posted January 23, 2009 Share Posted January 23, 2009 I guess that plays to the old adage, "You just can't always trust everything you read!" Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted January 23, 2009 Share Posted January 23, 2009 There are those who claim The Sandusky Register often gets things not quite right. I suppose this example would seem to lend some credence to that... Quote Link to comment Share on other sites More sharing options...
Cory Butcher Posted January 23, 2009 Share Posted January 23, 2009 Haha, I would say you are right! Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted January 24, 2009 Share Posted January 24, 2009 The Toledo Blade gets it right: http://toledoblade.com/apps/pbcs.dll/artic...9/-1/BUSINESS01 Quote Link to comment Share on other sites More sharing options...
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