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Peak Resorts Declares Dividend on Common and Preferred Stock; Completes Transition of Chief Financial Officer Role to Christopher J. Bub
WILDWOOD, Mo., -- Peak Resorts, Inc.announced that its Board of Directors approved a quarterly cash dividend payment of $0.07 per share on its outstanding common stock. The cash dividend is payable on November 10, 2017, to common shareholders of record as of October 26, 2017. The board also declared the first quarter cash dividend payment of $20.00 per share on its Series A Preferred Stock following the conclusion of the initial nine-month dividend free period.
“This payment marks the third quarterly common stock dividend since our dividend reinstatement last February, and our first cumulative preferred stock dividend to Cap 1 LLC, which owns 100% of our Series A Preferred Stock” said Tim Boyd, President and CEO. “With increased liquidity, we have the financial flexibility to support a return to shareholders while continuing to invest in organic and inorganic growth initiatives.”
As previously announced, Christopher J. Bub assumed the CFO role on October 3rd, 2017. Bub has been with the company since 2015, working closely with the former CFO, Stephen J. Mueller, on treasury, strategic planning, capital allocation, financial reporting and investor relations matters. Mueller will remain a member of the Board of Directors and assist the company during the transition and with special projects and growth initiatives.