The Interpreter Posted February 7, 2009 Share Posted February 7, 2009 ...Thursday Amusement park operator Cedar Fair (NYSE: FUN) reports on Thursday. Don't bother with the actual fourth-quarter performance. It's usually not much to write home about since most of its parks close just as the Halloween festivities are over. The reason to tune in is to see if Cedar Fair will cut its lofty dividend, something that the company has conceded that it's considering.... http://www.fool.com/investing/general/2009...look-ahead.aspx Quote Link to comment Share on other sites More sharing options...
Tomkatt7 Posted February 7, 2009 Share Posted February 7, 2009 what does that mean???? LOL Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted February 7, 2009 Author Share Posted February 7, 2009 What it means is, from my standpoint, this, and what it doesn't say is probably even more important. What it says and refers to: Cedar Fair units (stock) pay a very large (lofty, in Rick's words) dividend. So much so, the company actually borrowed extra money when it bought Paramount Parks, for the express purpose of continuing to pay out the large dividends while paying back the debt. Almost no one foresaw the economic circumstances now facing Cedar Fair and every other business in this country (and, in fact, the world). Mr. Kinzel has made noise about possibly reducing that dividend so more of the debt can be paid down. That, Rick talks about, and he says, in effect, this is the real news of the conference call on Thursday. Separately, and Rick does NOT point this out, by Wednesday of next week, Cedar Fair will announce if it refinanced any of its debt. By not mentioning it, I suspect Rick feels it is strongly likely that the debt will be refinanced, perhaps even on the condition that the dividends be cut, or at least not increased for the remainder of the loans' terms. Quote Link to comment Share on other sites More sharing options...
RailRider Posted February 10, 2009 Share Posted February 10, 2009 (edited) I didn't see this posted anywhere so I wanted to add it. Cedar Fair L.P. (FUN) disclosed Wednesday that it has launched an amendment to its $2.08 billion credit agreement. The amendment would, among other things, allow the company to purchase outstanding term loans at prices below par. The regional amusement-resort operator said in a document filed with the Securities and Exchange Commission that is seeking the consent of the requisite lenders by 5 p.m. on Feb. 10, in order to effect the amendment. -By Chad Clinton, Dow Jones Newswires; 202-862-1349; chad.clinton@dowjones.com I see this was posted, http://www.KICentral.com/forums/index.php?showtopic=16235 Edited February 10, 2009 by RailRider Quote Link to comment Share on other sites More sharing options...
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