FUN a Good Bet, Says Cramer

On a day where the stock market took a pummeling on European fears, “Mad Money” host Jim Cramer turned his focus to a company immune to the continental contagion.

Theme-park operator Cedar Fair, based in Sandusky, Ohio, owns 11 amusement parks, seven water parks and five hotels.

Cramer Bullish on Cedar Fair
Cramer Bullish on Cedar Fair   

Cramer said he liked the company’s rising dividend - $1 per share this year and possibly as much as $1.65 in 2012.

“This is an incredible increasing dividend story,” he said. “That’s exactly what we need to tough it out through the European insanity.

Cedar Fair refinanced most of its $1.55 billion debt in July 2010, and it will save more in interest costs next year.

In August with the company’s stock at $17.30 a share, Cramer called FUN “a staycation play with a rising dividend.”

There are a few issues here, though.

Cedar Fair is still looking for a new CFO, its former COO has filed a lawsuit for back pay, and a new CEO takes over in January.

To discuss the company’s outlook, President Matthew Ouimet visited with “Mad Money.”

Watch the video for the complete interview with Ouimet.

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