Ardent Leisure Group saw a dip in its stock price as the group traded on an ex-dividend basis on June 25, 2018 with regards to its interim dividend of 6.5 cents per stapled securities. With this news, the stock price of Ardent Leisure Group (ASX: AAD) tumbled by 1.485 per cent to $ 1.990 on June 25, 2018, before market close. Further, the qualified shareholders will be awarded this dividend in their designated account on August 31, 2018.
However, the Group will focus on achieving a balance between shareholder distributions and retaining capital for investment in growth. In broad terms, cash flows from the Main Event business are expected to be directed towards reinvestment in growth while cash generated by Theme Parks will be predominantly directed towards distributions.
Subject to no adverse changes to operating conditions, the Group expects to trade profitably in the second half, generating both a positive EBITDA and net profit after tax.
Currently, the stock is trading at an annual dividend yield of 1.49 per cent and has a market capitalisation of $952.12 million. Earlier, the group was noted to complete the sale of its Bowling & Entertainment Division. In the last three months, the stock has been up 5.76% as at June 22, 2018.
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