Regal Entertainment Group (RGC) Misses Q3 EPS by 2c, Reports Special Dividend, to Explore Strategic Alternatives
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Regal Entertainment Group (NYSE: RGC) reported Q3 EPS of $0.18, $0.02 worse than the analyst estimate of $0.20. Revenue for the quarter came in at $693.8 million versus the consensus estimate of $732.8 million.
Regal’s Board of Directors today declared both a quarterly cash dividend of $0.22 and a special cash dividend of $1.00 per Class A and Class B common share, each payable on December 15, 2014, to stockholders of record on December 4, 2014. The Company intends to pay a regular quarterly dividend for the foreseeable future at the discretion of the Board of Directors depending on available cash, anticipated cash needs, overall financial condition, loan agreement restrictions, future prospects for earnings and cash flows as well as other relevant factors.
The Company also announced today that its Board of Directors has authorized the exploration of strategic alternatives to enhance shareholder value, which may include a potential sale of the Company. While the Board of Directors has great confidence in the Company’s management team and its strategic plan, the combination of Regal’s continued strong performance and attractive industry dynamics has led the Board to conclude that this is an opportune time to conduct a thorough review of options.
For earnings history and earnings-related data on Regal Entertainment Group (RGC) click here.
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