Cinemark Holdings Inc to Issue Quarterly Dividend of $0.09 (NYSE:CNK)

Key Points

• Cinemark declared a quarterly dividend of $0.09 per share, payable September 9 to shareholders of record on August 26. The payment represents a $0.36 annualized dividend and approximately a 1.0% yield.
• The dividend appears well covered, with a current payout ratio of 16.4%; analysts expect a future payout ratio of about 13.5% based on projected earnings.
• Cinemark recently exceeded quarterly earnings expectations, reporting $1.19 in EPS versus the $1.03 consensus, while revenue rose 15.5% year over year to $1.09 billion. Shares were trading near their 12-month high, up 2.0% at $37.38.

Cinemark Holdings Inc (NYSE:CNK - Get Free Report) declared a quarterly dividend on Wednesday, August 12th. Shareholders of record on Wednesday, August 26th will be given a dividend of 0.09 per share on Wednesday, September 9th. This represents a c) annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, August 26th.

Cinemark has decreased its dividend payment by an average of 0.0%per year over the last three years. Cinemark has a dividend payout ratio of 16.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Cinemark to earn $2.66 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 13.5%.

Cinemark Trading Up 2.0%

Shares of CNK stock opened at $37.38 on Thursday. The firm has a 50 day moving average price of $33.04 and a two-hundred day moving average price of $29.30. The company has a quick ratio of 0.81, a current ratio of 0.84 and a debt-to-equity ratio of 3.87. The company has a market capitalization of $4.33 billion, a PE ratio of 22.12 and a beta of 1.00. Cinemark has a 12-month low of $21.60 and a 12-month high of $38.98.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.03 by $0.16. The company had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.03 billion. Cinemark had a return on equity of 50.94% and a net margin of 6.44%.The business's revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 earnings per share. As a group, analysts predict that Cinemark will post 2.34 earnings per share for the current year.

About Cinemark

Cinemark Holdings, Inc NYSE: CNK is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company's core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark's exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company's product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.

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