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Directors of The Marcus Corporation (NYSE:MCS) today declared a regular quarterly cash dividend of $0.16 per share of common stock, a 6.7% increase from the prior dividend rate of $0.15 per share of common stock. The first dividend at the new rate will be paid March 15, 2019 to shareholders of record on March 4, 2019.
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"The dividend increase reflects our strong financial performance and ongoing commitment to increasing shareholder value. The increase in the cash dividend rate, combined with an increased number of shares outstanding, will result in an increase in total dividends paid of over 17% compared to the prior year. Our solid balance sheet enables us to return capital to shareholders through cash dividends and share repurchases, while at the same time continuing to invest in our two businesses and pursue additional growth opportunities, such as our recently completed Movie Tavern acquisition," said Stephen H. Marcus, chairman of The Marcus Corporation.
The Board of Directors also declared a dividend of $0.1455 per share of the Class B common stock. The dividend on the Class B common stock, which is not publicly traded, will also be paid March 15, 2019 to shareholders of record on March 4, 2019.
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About The Marcus Corporation
Headquartered in Milwaukee, The Marcus Corporation is a leader in the lodging and entertainment industries, with significant company-owned real estate assets. The Marcus Corporation's theatre division, Marcus Theatres®, is the fourth largest theatre circuit in the U.S. and currently owns or manages 1,098 screens at 90 locations in 17 states. The company's lodging division, Marcus® Hotels & Resorts, owns and/or manages 21 hotels, resorts and other properties in nine states. For more information, please visit the company's website at www.marcuscorp.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190220005724/en/
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.