Canterbury Park Board approves quarterly cash dividend

Payouts for current shareholders are scheduled for October 13.

Canterbury Park Holding Corporation has approved its quarterly cash dividend of $0.07 per share. The company’s Board of Directors recently implemented a quarterly cash dividend, pursuant to its current dividend policy.

Stockholders of record as of September 29 can expect to receive payment at the new rate on October 13.

At the updated rate, the annual dividend amount is equivalent to $0.28 per common share, the company said.

Canterbury Park Holding Corporation is based in Shakopee, Minnesota. The company owns and operates Canterbury Park Racetrack and Card Casino.

Its racetrack is known throughout the state as Minnesota’s only thoroughbred and quarter horseracing facility, which offers live racing between the months of May and December.

Company management recently released an update on its Canterbury Commons development project in its latest quarterly report. The 140 acres of underutilized land near the racetrack will be repurposed into an entertainment destination.

The company said in the recent report, “Development activity at Canterbury Commons remains on track as we continue to attract broad interest in our vibrant lifestyle community from diverse parties. During the second quarter of 2023, we completed the $8.8m sale of 37 acres of land to Swervo Development Corporation, which cleared the way for it to begin development of a state-of-the-art amphitheater.

“We are delighted that these venues diversify the on-site options and believe they will help drive further traffic to Canterbury Commons. ‘Live, Work, Stay, and Play’ is at the heart of our development approach, and we believe there is much more excitement to come as we work with new development partners that share our vision and enthusiasm for Canterbury Commons.”

Isabella Santos

Writer

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