Canterbury Park Holding Corporation’s Board of Directors has finalized its decision to approve a quarterly cash dividend of $0.07 per share, which is “pursuant to its dividend policy.” The board determined that payments to the group’s shareholders will be issued April 14, 2023.
The annual dividend is valued at $0.28 per common share as equivalent to the quarterly rate, according to the company. To qualify for the payout, stockholders must be listed on record by March 31.
The group said in a statement: “The company is pursuing a strategy to enhance shareholder value by the ongoing development of approximately 140 acres of underutilized land surrounding the racetrack that was originally designated for a project known as Canterbury Commons.
“The company is pursuing several mixed-use development opportunities for the remaining underutilized land, directly and through joint ventures.”
Canterbury Park CEO Randy Sampson commented on the company’s continuing efforts to expand throughout the US, as well as on Canterbury Commons and its long-term goals.
He said: “Approximately 900 units of residential development have either been completed or are underway, and we have successfully attracted multiple commercial uses to our property.
“Our long-term vision is rounding into focus under his leadership, and we are excited to see how he guides the future of Canterbury Commons.”
Canterbury Park Holding Corporation is based in Shakopee, Minnesota and owns and operates Canterbury Park Racetrack and Card Casino. The racetrack is Minnesota’s only thoroughbred and quarter horse racing facility, which offers live racing between the months of May and December.
