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Author Topic: Regal Ent. sets one-time div at $5.05/shr Paul Konen Jedi Master Film Handler Posts: 981 From: Frisco, TX. (North of Dallas) Registered: Jun 99 posted 06-12-2003 10:01 AM                     WOW ! (Even if it is one time) ------------- Wednesday June 11, 6:15 am ET NEW YORK, June 11 (Reuters) - Regal Entertainment Group Inc. (NYSE:RGC - News), the No. 1 movie theater chain, on Wednesday said the amount of its previously announced one-time cash dividend would be $5.05 per share. The company, which owns Regal Cinemas, United Artists Theatres and other cinemas, also said it expects accumulated earnings of $200 million to $275 million in 2003, before consideration of the extraordinary dividend or its regular quarterly dividend. The extraordinary dividend is payable on July 1 to shareholders of record on June 20, and applies to both Class A and Class B common stock. ---------------- However from another press release: ... The company, which went public in May 2002, announced last month its plan to pay an extraordinary dividend, saying it would be funded in part by the offer of convertible senior notes in a private placement. Regal also said it would obtain an additional term loan facility of about $315 million, make a draw on its revolving credit facility of about $13 million, and use approximately $190 million of cash on hand to help fund the one-time dividend. Once the extraordinary dividend is paid, Regal said in May that it expects to reduce future quarterly dividends to 12 cents a share, down from 15 cents a share currently. The company's move may have been spurred in part by President Bush's recent $ 350 billion tax package, which cut taxes on dividend payments. ...  |  IP: Logged Steve Kraus Film God Posts: 4094 From: Chicago, IL, USA Registered: May 2000 posted 06-13-2003 05:55 PM                    Is there a catch? The stock is around $23/share so this would almost be an 22% profit. Interesting that the price has not climbed on this news although I suppose they could all jump in the day before. So is the expectation that it's going to tank the next day? Usually things that seem to good to be true, are. Is it?  |  IP: Logged

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