SeaWorld says it will stop paying shareholders a dividend

FILE – In this Monday, March 7, 2011, file photo, killer whale Tilikum, right, watches as SeaWorld Orlando trainers take a break during a training session at the theme park’s Shamu Stadium in Orlando, Fla. Troubled theme park operator SeaWorld says it will soon stop paying its shareholders a quarterly dividend. It will pay its last dividend on Oct. 7, 2016, and the amount it pays will be cut 52 percent to 10 cents from 21 cents in the previous quarter. (AP Photo/Phelan M. Ebenhack, File) NEW YORK, N.Y. – Troubled theme park operator SeaWorld said it will soon stop paying its shareholders a quarterly dividend. Its stock dropped to an all-time low Tuesday.SeaWorld, known for its water shows featuring killer whales and dolphins, has been dealing with falling attendance and revenue as people’s feelings about using animals for entertainment has soured. Earlier this year, the Orlando, Florida, company said it won’t breed killer whales and would stop using them in shows.The company said late Monday that it will pay its last dividend on Oct. 7, and the amount it pays will be cut by 52 per cent to 10 cents for each share owned, down from 21 cents in the previous quarter. SeaWorld said the money saved on dividends will be used to buy its own shares.Last month, the company said its second-quarter revenue fell 5 per cent from the year before, and the number of people entering its parks fell nearly 8 per cent to 6 million.SeaWorld operates 12 parks, including Busch Gardens, Sesame Place and Aquatica.Shares of SeaWorld Entertainment Inc. fell 76 cents, or 6 per cent, to $11.93 in afternoon trading Tuesday. Earlier, the stock fell to $11.77, its lowest point since it began trading more than three years ago. SeaWorld says it will stop paying shareholders a dividend by The Associated Press Posted Sep 20, 2016 7:37 am MDT Last Updated Sep 20, 2016 at 12:06 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email read more