Canterbury Park Holding Corporation (NASDAQ:CPHC) today announced that its Board of Directors have declared a special cash dividend of $.25 per share of common stock payable to shareholders of record on June 28, 2012. The dividend will be distributed on July 12, 2012. The Company currently has approximately 4,120,828 shares of common stock outstanding.
The Company stated that it has not adopted any plan or policy with regard to paying dividends and that, after the dividend payable July 12, 2012 is distributed, any further dividend action, if any, by the Board of Directors will be based on the Company’s earnings, projected future earnings and cash requirements at such time as a further dividend is considered.
Additionally, the Company announced at the shareholders’ meeting today that the following directors were re-elected to a one-year term: Patrick R. Cruzen, Burton F. Dahlberg, Carin J. Offerman, Curtis A. Sampson, Randall D. Sampson, and Dale H. Schenian.
About Canterbury Park:Canterbury Park Holding Corporation owns and operates Canterbury Park Racetrack, Minnesota’s only thoroughbred and quarter horse racing facility. The Company’s 2012 live race meet begins on May 18 th and ends Sept 3 rd. In addition, Canterbury Park’s card room hosts card games 24 hours a day, seven days a week, offering both poker and table games. The Company also conducts year-round wagering on simulcast horse racing and hosts a variety of other entertainment and special events at its facility in Shakopee, Minnesota. For more information about the Company, please visit us at www.canterburypark.com.Cautionary Statement: From time to time, in press releases and in other communications to shareholders or the investing public, the Canterbury Park Holding Corporation may make forward-looking statements concerning possible or anticipated future financial performance, business activities or plans based on management’s beliefs and assumptions. These forward looking statements are typically preceded by the words such as "believes," "expects," "anticipates," "intends" or similar expressions. Shareholders and the investing public should understand that these forward-looking statements are subject to risks and uncertainties, including those disclosed in our periodic filings with the Securities and Exchange Commission, which could cause actual performance, activities or plans after the date the statements are made to differ significantly from those indicated in the forward-looking statements when made.