Six Flags bumps up dividend by a penny, to yield more than 7.4%

Six Flags Entertainment Corp.

SIX, -0.67%

said Monday it was raising its quarterly dividend to 83 cents a share from 82 cents, marking the 10th annual increase in the past 9 years. The theme park company’s new dividend will be payable Dec. 9 to shareholders of record on Nov. 29. Based on Friday’s stock closing price of $44.60, the new annual dividend rate of $3.32 a share implies a dividend yield of 7.44%, which is nearly 4-times the implied yield for the S&P 500

SPX, +0.95%

of 1.90%, according to FactSet. “We are committed to maintaining a healthy dividend and returning all remaining excess cash flow to shareholders in the form of share repurchases,” said Chairman Richard Roedel. The stock, which slipped 0.5% in premarket trading, has dropped 20.6% over the past three months, while the S&P 500 has gained 8.0%.

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