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O.C. BUSINESS PLUS | ORANGE COUNTY BRIEFLY

Because Knott's Is Hot, Cedar Fair Raises Payout

March 07, 2000|(E. Scott Reckard)

Citing a strong performance at its Knott's Berry Farm in Buena Park, amusement park operator Cedar Fair LP on Monday increased its quarterly payments to investors by 3.4%.

Knott's Berry Farm's fourth-quarter performance was "outstanding," said Richard L. Kinzel, Cedar Fair's chief executive. He also pointed out that several Cedar Fair parks in the Midwest and East contributed to "a solid Halloween season."

The Sandusky, Ohio, company said it will distribute 37.5 cents per partnership unit on May 15 to investors who own stakes as of April 5. The increase, which will raise its annual payout from $1.45 to $1.50 per unit, is the second 5-cent boost in the annualized rate in the past year.

Cedar Fair's partnership units closed Monday at $18.56 in New York Stock Exchange trading, down from a high of $25.88 last May.

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