Canterbury Park Holding Corporation (AMEX:ECP) today announced that its Board of Directors has declared a special cash dividend of $.25 per share of common stock payable to shareholders of record on June 22, 2007. The dividend will be distributed on July 13, 2007. The Company currently has approximately 4,110,800 shares of common stock outstanding.
The Company stated that it has not adopted any plan or policy with regard to paying dividends and that, after the dividend payable July 13, 2007 is distributed, any further dividend action, if any, by the Board of Directors will be based on the Company’s earnings, projected future earnings and cash requirements at such time as a further dividend is considered.
About Canterbury Park:
Canterbury Park Holding Corporation hosts pari-mutuel wagering and card games at Canterbury Park Racetrack and Card Club in Shakopee, MN. Pari-mutuel wagering is offered on live thoroughbred and quarter horse races each summer, and simulcast wagering on races held at out-of-state racetracks is available year round. The Card Club hosts a variety of poker and casino style card games 24 hours a day. The Company’s 69-day 2007 live race meet began on May 5th and ends September 3rd. For more information about the Company please visit us at www.canterburypark.com.
From time to time, in reports filed with the Securities and Exchange Commission, in press releases, and in other communications to shareholders or the investing public, the Company may make forward-looking statements concerning possible or anticipated future financial performance, prospective business activities or plans which are typically preceded by words such as “believes,”“expects,” “anticipates,”“intends” or similar expressions. For such forward-looking statements, we claim the protection of the safe harbor for forward-looking statements contained in federal securities laws. Shareholders and the investing public should understand that such forward-looking statements are subject to risks and uncertainties which could affect our actual results, and cause actual results to differ materially from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to: material fluctuations in attendance at the Racetrack, material changes in the level of wagering by patrons, decline in interest in the unbanked card games offered at the Card Club, competition from other venues offering unbanked card games, competition from other venues offering unbanked card games, or other forms of wagering, competition from other sports and entertainment options, costs associated with our efforts to obtain legislative authority for additional gaming options, increases in compensation and employee benefit costs; increases in the percentage of revenues allocated for purse fund payments; higher than expected expense related to new marketing initiatives; the impact of wagering products and technologies introduced by competitors; legislative and regulatory decisions and changes; the general health of the gaming sector; and other factors that are beyond our ability to control or predict.