Sticky Nicky Posted December 18, 2007 Share Posted December 18, 2007 SANDUSKYOn Friday, Cedar Fair Entertainment Co. stock closed at $21.08 a share -- the lowest it's been since Cedar Fair closed at $20.30 in 2002, according to Yahoo! Finance. Cedar Fair spokeswoman Stacy Frole said reasons behind the low price can be viewed differently by stockholders, and the amount does not include the company's dividend statements. "It all depends on investment philosophy," she said. Frole said Cedar Fair's low stock in 2006 was $24.12 and $25.66 in 2005. Although stock prices have reached a five-year low, the quarterly dividend Cedar Fair pays to stockholders has slightly increased each year. In January 2005, the company paid a dividend of 45 cents per share. according to Yahoo! Finance. The company increased it to 46 cents per share later that year and into January 2006. In November, the company paid a dividend of 47.5 cents per share. * Cedar Fair went public in 1987. On Nov. 5 of that year, the price per share was $3.04, according to Yahoo! Finance. "We're a long-term investment," Frole said. She declined to give further details about the reasons for the low stock prices. Earlier this summer, Cedar Fair made national headlines after the New York Post reported the company was involved in a possible $4.1 billion deal with Destiny Capital Solutions -- a Nevada-based investment firm. Cedar Fair officials denied any involvement with the firm. In September, Cedar Fair chairman, president and chief executive officer Dick Kinzel bought10,000 shares of Cedar Fair common stock. According to a Securities and Exchange Commission filing, Kinzel bought the shares for $24.42 apiece. Following that transaction, Kinzel owned nearly 585,000 shares of the company's stock. A few days after Kinzel purchased the stock, Cedar Fair announced it was shutting down the amusement park side of Geauga Lake & Wildwater Kingdom because of the park's low attendance. In October, Cedar Fair announced it would sell its Great America amusement park to the city of Santa Clara or the San Francisco 49ers if the residents of that community believe the property would be better used as a new NFL stadium. On Monday, Cedar Fair stock closed at $21.28, according to Yahoo! Finance http://www.sanduskyregister.com/articles/2007/12/18/front/524533.txt Discuss Link to comment Share on other sites More sharing options...
Acero Posted December 18, 2007 Share Posted December 18, 2007 I didn't know that Cedar Fair had offered to sell CGA if the community saw fit. That's interesting. Is CF still offering that to the community? I mean, they are planning on building the Santa Clara Stampede and everything, so... Link to comment Share on other sites More sharing options...
RIP Psyclone Posted December 18, 2007 Share Posted December 18, 2007 Okay, who has FUN in their portfolio? Link to comment Share on other sites More sharing options...
xcastn0shad0wx Posted December 18, 2007 Share Posted December 18, 2007 they have decided to allow them to build the stadium in the overflow parking lot as long as the team allows cedar fair to schedule the dates the team has home games. because when they do have a game CGA will have to close. also the team will have to pay cedar fair the amount of revenues lost due to being closed. Link to comment Share on other sites More sharing options...
RaptorBoyASU Posted December 18, 2007 Share Posted December 18, 2007 It's at a low, but dividends are up. Not exactly a bad prognosis. My guess is the debt load from the Paramount purchase is pushing the value down, especially since it wasn't met with stellar performance this past year. Link to comment Share on other sites More sharing options...
knottslover77 Posted December 19, 2007 Share Posted December 19, 2007 Not a suprise to me. --Jay Link to comment Share on other sites More sharing options...
Jew Posted December 19, 2007 Share Posted December 19, 2007 Hmm...where have I heard this all before? Link to comment Share on other sites More sharing options...
verticalzero Posted December 19, 2007 Share Posted December 19, 2007 This is the reaction to what Cedar Fair have done at GL in 2008 and beyond. Any news on the "Big Dipper" sale..? Link to comment Share on other sites More sharing options...
BrownStreak Posted December 19, 2007 Share Posted December 19, 2007 I'll just post this cryptic message: "Those who don't learn their history are doomed to repeat it." Link to comment Share on other sites More sharing options...
larrygator Posted December 19, 2007 Share Posted December 19, 2007 This is the reaction to what Cedar Fair have done at GL in 2008 and beyond. WRONG! - Cedar Fair will make more money from the sale of that land (even in a poor real estate market) that GL could pull in. Link to comment Share on other sites More sharing options...
geaugalakeinexile Posted December 22, 2007 Share Posted December 22, 2007 This is the reaction to what Cedar Fair have done at GL in 2008 and beyond. WRONG! - Cedar Fair will make more money from the sale of that land (even in a poor real estate market) that GL could pull in. That sounds just like what Six Flags thought when they closed Astroworld. That little mistake cost Six Flags millions and cost some people their jobs. Selling land now is not a guarantee of profits. Remember the housing slump? Check out the Motley Fools view of FUN. Not pretty. Link to comment Share on other sites More sharing options...
larrygator Posted December 22, 2007 Share Posted December 22, 2007 ^CF buying GL is the first place was wrong. If CF is not generating revenue from attendance at GL, the revenue from selling the land will be greater than an operating loss. Selling the land now is not as beneficial as selling it during a real estate boom but the bean counters at CF must have decided than a lower sale price now is not as bad a taxes and losses until the real estate markets turns around. Link to comment Share on other sites More sharing options...
65skylark Posted December 23, 2007 Share Posted December 23, 2007 Are you SURE Larry. Because I don't know if you know what you're talking about. I'm no CPA, but keeping the park open and loosing a LOT of money every year sounds way better than selling it and making money. Not only selling it and making money, but selling it and no longer LOOSING money. Sounds like a bad deal to me. But again, I'm no expert. Link to comment Share on other sites More sharing options...
Meteornotes Posted December 23, 2007 Share Posted December 23, 2007 ^Post Of The Day. dt Link to comment Share on other sites More sharing options...
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