SeaWorld Entertainment, Inc. Announces 5 Percent Increase in Annual Cash Dividend
ORLANDO, Fla., May 13, 2014 /PRNewswire/ -- SeaWorld Entertainment, Inc. (NYSE: SEAS), a leading theme park and entertainment company, today announced that its Board of Directors has approved a 5% increase in the Company's annual cash dividend, bringing the Company's annual cash dividend to $0.84 per share of common stock on a go forward basis. In addition, the Company also announced that its Board of Directors has declared the second quarter fiscal year 2014 cash dividend of $0.21 per share payable on July 1, 2014 to all common stockholders of record at the close of business on June 20, 2014.
"We are pleased to declare our fifth consecutive quarterly dividend as we enter our second year as a public company," said SeaWorld Entertainment, Inc. President and Chief Executive Officer Jim Atchison . "The increase in our dividend is a testament to the strength of our brands and an indicator of our commitment to deliver value and improving returns to our stockholders."
The Company intends to continue to pay cash dividends on its common stock, subject to its compliance with applicable law, and depending on, among other things, its results of operations, financial condition, level of indebtedness, capital requirements, contractual restrictions, restrictions in its debt agreements and in any preferred stock, business prospects and other factors that its Board of Directors may deem relevant. However, the payment of any future dividends will be at the discretion of its Board of Directors and its Board of Directors may, at any time, modify or revoke the dividend policy.
SeaWorld Entertainment, Inc. (NYSE: SEAS) is a leading theme park and entertainment company delivering personal, interactive and educational experiences that blend imagination with nature and enable its customers to celebrate, connect with and care for the natural world we share. The Company owns or licenses a portfolio of globally recognized brands including SeaWorld, Shamu and Busch Gardens. Over its more than 50-year history, the Company has built a diversified portfolio of 11 destination and regional theme parks that are grouped in key markets across the United States, many of which showcase its one-of-a-kind collection of approximately 86,000 marine and terrestrial animals. The Company's theme parks feature a diverse array of rides, shows and other attractions with broad demographic appeal which it believes deliver memorable experiences and a strong value proposition for its guests. In addition to its theme parks, the Company has recently begun to leverage its brands into media, entertainment and consumer products.
Copies of this and other news releases as well as additional information about SeaWorld Entertainment, Inc. can be obtained online at www.seaworldentertainment.com. Shareholders and prospective investors can also register to automatically receive the Company's press releases, Securities and Exchange Commission ("SEC") filings and other notices by e-mail by registering at such website.
These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements contained in this press release, including among others: various factors beyond management's control adversely affecting discretionary spending and attendance at the Company's theme parks; inability to protect intellectual property or the infringement on intellectual property rights of others; incidents or adverse publicity concerning the Company's theme parks; outbreak of infectious disease affecting the Company's animals; change in federal and state regulations governing the treatment of animals; and other risks, uncertainties and factors set forth in the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2013, as such risks, uncertainties and factors may be updated in the Company's periodic filings with the SEC.
Investor Relations Inquiries: SeaWorld Entertainment, Inc., 855.797.8625, investors@seaworld.com; Media Inquiries: Fred Jacobs, Vice President of Communications, Fred.Jacobs@SeaWorld.com