MILWAUKEE - The Marcus Corporation (NYSE: MCS), a prominent player in the lodging and entertainment sectors, has announced a regular quarterly cash dividend payment for its common stock. The company will pay $0.07 per share to shareholders of record as of August 26, 2024. The scheduled payment date for this dividend is September 16, 2024.
In a parallel move, The Marcus Corporation's board also declared a dividend of $0.064 per share on its Class B common stock, which is not publicly traded. Shareholders of the Class B stock on record by August 26 will receive their dividends on the same day as common stock shareholders, September 16.
The Marcus Corporation, with its headquarters in Milwaukee, is known for its substantial real estate assets and operations in the theatre and hotel industries. Its theatre division, Marcus Theatres®, ranks as the fourth largest cinema circuit in the United States, operating 995 screens across 79 locations in 17 states. The company's lodging division, Marcus® Hotels & Resorts, has a portfolio that includes ownership and management of 16 hotels, resorts, and other properties across eight states.
The announcement of the dividends reflects the company's commitment to providing value to its investors and its confidence in the ongoing performance of its operations. This financial decision is part of the company's regular practice of rewarding its shareholders and is based on a press release statement issued by The Marcus Corporation.
InvestingPro Insights
The Marcus Corporation, while maintaining a tradition of rewarding shareholders with dividends, has a few financial metrics and analyst insights that could be of interest to current and potential investors. According to InvestingPro data, the company has a market capitalization of $408.28 million. Despite a challenging environment, the company has managed to maintain a gross profit margin of 40.98% over the last twelve months as of Q2 2024. This indicates a solid ability to control costs relative to its revenue.
Investors should note that the company is trading at a negative P/E ratio of -18.95, reflecting that it is not currently profitable. However, this is not uncommon in industries with high capital expenditures and variable revenue streams. Moreover, the company has experienced a revenue decline of -3.32% over the last twelve months as of Q2 2024, which may be a point of concern for those looking at top-line growth.
From the perspective of market sentiment, one of the InvestingPro Tips suggests that the company's stock price movements have been quite volatile. This could be a factor for investors with a lower tolerance for risk to consider. On a positive note, another InvestingPro Tip indicates that analysts predict the company will be profitable this year, which could signal a potential turnaround for The Marcus Corporation.
For investors seeking a more comprehensive analysis, there are additional InvestingPro Tips available, which provide deeper insights into The Marcus Corporation's financial health and future prospects. These tips can be accessed through the InvestingPro platform for those looking to make an informed investment decision.
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