Peak Resorts Declares Quarterly Cash Dividend of $0.07 Per Share
April 10 2018 - 3:45PM
Peak Resorts, Inc. (NASDAQ:SKIS) (“Peak” or the “Company”), a
leading owner and operator of high-quality, individually branded
U.S. ski resorts, announced today that its Board of Directors has
declared a quarterly cash dividend of $0.07 per outstanding share
of its common stock. The cash dividend is payable on May 11, 2018
to common shareholders of record as of April 26, 2018 and
represents an annualized yield of 5.7% based on the $4.93 per share
closing price of the Company’s stock on April 10, 2018.
Timothy D. Boyd, President and Chief Executive
Officer, commented, “We are very confident in Peak Resorts’
long-term financial health and our ongoing commitment to returning
capital to shareholders through a regular quarterly cash dividend
clearly demonstrates this confidence. As we wrap up what has been a
highly successful 2017/2018 ski season and enter what should be an
active summer during which we will continue to invest across a
number of major return-focused projects, the entire Peak Resorts
team remains excited by our long-term prospects for growth.”
About Peak ResortsHeadquartered
in Missouri, Peak Resorts is a leading owner and operator of
high-quality, individually branded ski resorts in the U.S. The
company operates 14 ski resorts primarily located in the Northeast
and Midwest, 13 of which are company owned.
The majority of the resorts are located within
100 miles of major metropolitan markets, including New York City,
Boston, Philadelphia, Cleveland and St. Louis, enabling day and
overnight drive accessibility. The resorts under the company's
umbrella offer a breadth of activities, services and amenities,
including skiing, snowboarding, terrain parks, tubing, dining,
lodging, equipment rentals and sales, ski and snowboard instruction
and mountain biking and other summer activities. To learn more,
visit the company’s website at ir.peakresorts.com or follow Peak
Resorts on Facebook for resort updates.
For further information, or to receive future
Peak Resorts news announcements via e-mail, please contact JCIR, at
212-835-8500 or skis@jcir.com.
Forward Looking StatementsThis news release
contains forward-looking statements regarding the future outlook
and performance of Peak Resorts, Inc., within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements
are subject to a variety of risks and uncertainties that could
cause actual results to differ materially from current
expectations. These risks and uncertainties are discussed under the
caption “Risk Factors” in the company’s Annual Report on Form 10-K
for the year ended April 30, 2017, filed with the Securities and
Exchange Commission (the “SEC”), and as updated from time to time
in the company’s filings with the SEC. Peak Resorts undertakes no
obligation to release publicly the result of any revisions to these
forward-looking statements that may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
Investor Contact:Norberto Aja,
Jim Leahy, Joseph JaffoniJCIR212-835-8500 or skis@jcir.com
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