WILDWOOD, Mo., April 10, 2018 (GLOBE NEWSWIRE) -- 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 Resorts
Headquartered 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 email@example.com.
Forward Looking Statements
This 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.
Norberto Aja, Jim Leahy, Joseph Jaffoni
212-835-8500 or firstname.lastname@example.org
Source:Peak Resorts, Inc.