Canterbury Park announces $0.07 quarterly dividend

Published 13/06/2025, 21:06
Canterbury Park announces $0.07 quarterly dividend

SHAKOPEE, Minn. - Canterbury Park Holding Corporation (NASDAQ:CPHC), currently trading at $17.05 and near its 52-week low of $16.75, announced Friday that its Board of Directors has approved a quarterly cash dividend of $0.07 per share, payable on July 14, 2025, to stockholders of record as of June 30, 2025.

The quarterly payout represents an annual dividend equivalent of $0.28 per common share, yielding 1.63%, according to the company’s statement. InvestingPro analysis reveals the company maintains strong financial health with more cash than debt and liquid assets exceeding short-term obligations.

Canterbury Park operates the only thoroughbred and quarter horse racing facility in Minnesota, typically offering live racing from May to September. The company’s casino in Shakopee provides 24/7 card games, including poker and table games, and hosts various entertainment events throughout the year.

The company is currently working on developing approximately 140 acres of underutilized land surrounding its racetrack through direct initiatives and joint ventures, as stated in the press release.

Canterbury Park Holding Corporation trades on the Nasdaq under the ticker symbol CPHC.

The dividend announcement was made in accordance with the company’s established dividend policy, as noted in the press release.

In other recent news, Canterbury Park Holding Corporation held its 2025 Annual Meeting of Shareholders, where a significant 91.2% of outstanding shares were represented. Shareholders voted on important proposals, including the election of directors and the ratification of Wipfli LLP as the independent auditor for the fiscal year ending December 31, 2025. The election of all seven director nominees and the auditor ratification received strong support, indicating shareholder approval of the company’s governance practices. Additionally, the advisory vote on executive compensation passed, with shareholders favoring triennial Say-on-Pay votes.

In another development, Canterbury Park declared a quarterly cash dividend of $0.07 per share, scheduled to be paid on April 14, 2025, to shareholders on record as of March 31, 2025. This dividend suggests an annual payout of $0.28 per common share. The company is also advancing its Canterbury Commons™ project, focusing on developing approximately 140 acres of adjacent land through mixed-use projects, some in joint ventures. While Canterbury Park expresses optimism about its future, it advises caution regarding forward-looking statements due to potential risks and uncertainties.

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