Six Flags Entertainment Corporation (SIX) announced today that its board of directors has approved an increase in the company’s ongoing quarterly cash dividend from six cents per common share to sixty cents per share. The first-quarter dividend will be payable March 12, 2012 to shareholders of record as of March 1, 2012.
In December 2011, the company announced a new credit agreement that provided incremental financial flexibility and in January 2012, the company announced a $250 million expansion of its share repurchase plan through 2015.
Shares of Six Flags Entertainment (SIX) have advanced above their 10-day MA of $44.06 on a volume of 858K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term. In the past 52 weeks, shares of Six Flags Entertainment have traded between a low of $24.72 and a high of $47.27 and are now at $47.08, which is 90% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.2% while the 200-day MA has risen 0.4%.
About Six Flags Entertainment CorporationSix Flags Entertainment Corporation is the world’s largest regional theme park company with approximately $1.0 billion in revenue and 19 parks across the United States, Mexico and Canada. For more than 50 years, Six Flags has entertained millions of families with world-class coasters, themed rides, thrilling water parks and unique attractions including up-close animal encounters, Fright Fest and Holiday in the Park.