Peak Resorts Stock Down 15%; Company to Pay Dividend
Cash dividend to be paid in February.
Wednesday, December 10, 2014, NewEnglandSkiIndustry.com
Just two and a half weeks after its IPO, Peak Resorts (NASDAQ: SKIS) has announced it will pay a cash dividend to shareholders. 13.75 cents per share will be paid on February 20, 2015. As of December 10, shares have dropped $1.38 since the IPO. Current market capital is $106.54 million.
The cash payout comes despite having $175 million in long term debt (most of it at 10% interest).
Peak Resorts operates 13 ski areas in the United States. It opened Crotched Mountain in New Hampshire in 2003, purchased Attitash in New Hampshire and Mount Snow in Vermont from American Skiing Company in 2007, and Wildcat in New Hampshire in 2010.
