Regal Entertainment Posts Declining Q4 Results
Despite a drop in revenue and profit, the nation's largest movie exhibition company upped its dividend slightly to 21 cents a share.
Regal Entertainment, the nation's largest movie exhibition company, posted declining fourth-quarter revenue and profit on Wednesday, though it upped its dividend slightly to 21 cents a share.
Regal has traditionally paid its investors a handsome dividend relative to what most other publicly traded companies share with their stockholders, thus the company sports a hefty 5.8% yield.
"The company intends to pay a regular quarterly dividend for the foreseeable future at the discretion of the board of Directors," Regal said in a statement.
Regal, which operates nearly 7,000 screens in 539 locations, said net income fell to $13.6 million in the quarter from last year's $35.5 million. Revenue dropped 14% to $661 million.
Admission revenue fell 13% to $458.2 million, and revenue from concessions dropped 18% to $163.7 million. Miscellaneous revenue made up the difference, falling slightly to $39.1 million.