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SHAKOPEE, MN— Canterbury Park Holding Corporation (NASDAQ:CPHC), an $88 million market cap company currently trading near its 52-week low of $16.91, held its 2025 Annual Meeting of Shareholders on June 5, with a high turnout of approximately 91.2% of outstanding shares represented. According to InvestingPro analysis, the company maintains a strong financial position with more cash than debt on its balance sheet. Shareholders voted on several key proposals including the election of directors, ratification of the company’s independent auditor, executive compensation, and the frequency of future advisory votes on executive pay.
All seven director nominees were elected to hold office until the next annual meeting or until successors are elected and qualified. Votes for individual directors ranged from 2,404,984 to 2,819,104 in favor, with withheld votes significantly lower, indicating strong shareholder support.
Wipfli LLP was ratified as Canterbury Park’s independent registered public accounting firm for the fiscal year ending December 31, 2025, with an overwhelming 4,595,342 votes for, 284 against, and 4,862 abstentions.
The non-binding advisory vote on executive compensation passed with 2,760,678 votes for, 70,942 against, and 1,181 abstentions. Additionally, shareholders favored conducting future Say-on-Pay votes every three years, with 1,956,772 votes for this frequency, 859,955 for one year, and 14,149 for two years.
The results reflect shareholders’ approval of the company’s executive compensation practices and support for triennial advisory votes on the matter. Canterbury Park’s management and board of directors have been authorized to continue their stewardship of the company in alignment with shareholders’ preferences as expressed in these votes. With a current ratio of 2.13 and liquid assets exceeding short-term obligations, InvestingPro data shows the company maintains robust financial health despite challenging market conditions. InvestingPro subscribers have access to over 30 additional financial metrics and exclusive insights about CPHC’s performance and valuation.
This article is based on a press release statement from the SEC filing.
In other recent news, Canterbury Park Holding Corporation has announced a quarterly dividend of $0.07 per share. This dividend is scheduled to be paid on April 14, 2025, to shareholders who are on record as of March 31, 2025. The dividend rate projects an annual payout of $0.28 per common share. Canterbury Park is also actively developing approximately 140 acres of adjacent underutilized land, an initiative known as Canterbury Commons™, which aims to create shareholder value through mixed-use development projects. Some of these projects are being pursued through joint ventures. The company has expressed optimism about its future activities and financial performance but has also cautioned that forward-looking statements are not guarantees of future performance. Investors are encouraged to consult the company’s filings with the Securities and Exchange Commission for detailed information on potential risks and uncertainties.
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