Twice as Much Fun as Six Flags Splits 2-for-1
Theme park operator Six Flags Entertainment says "more flags, more fun," so that must also apply to its stock, too, as it announced yesterday it will initiate a two-for-one stock split on June 26. Shareholders of record on June 12 will receive one share of Six Flags stock for each share they already own.
Moreover, the board of directors also declared a regular quarterly dividend of $0.90 per share, the same rate it's paid the last two quarters after raising it 50%, from $0.60 per share. The quarterly dividend is payable on June 10 to the holders of record at the close of business on May 30.
Six Flags has paid a dividend every quarter since emerging from bankruptcy in 2010. It paid a $0.06 per share at the time, and then hiked it tenfold in 2012, raising it to the $0.60 share level.
The regular dividend payment equates to a $3.60-per-share annual dividend yielding 4.8% based on the closing price of Six Flag Entertainment's stock on May 8.
The article Twice as Much Fun as Six Flags Splits 2-for-1 originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.