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Monday, 04/21/2003

FUN - Cedar Fair LP

Company Description

Cedar Fair, L.P. is a publicly traded limited partnership managed by Cedar Fair Management Company. The Company owns and operates six amusement parks that are family-oriented, with recreational facilities for people of all ages, and provides rides and entertainment. The Company also owns and operates separate-gated water parks near San Diego and in Palm Springs, California. All principal rides and attractions at the parks are owned and operated by the Company and its affiliated companies. The Company also operates a seven-acre indoor amusement park. These parks are Cedar Point, located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Knott's Berry Farm, located near Los Angeles in Buena Park, California; Dorney Park & Wildwater Kingdom (Dorney Park), located near Allentown in South Whitehall Township, Pennsylvania; Valleyfair, located near Minneapolis/St. Paul in Shakopee, Minnesota; Worlds of Fun in Kansas City, Missouri; and Michigan's Adventure near Muskegon, Michigan.

[Source: Company]

Reasons to Invest

Cedar Fair, L.P. is a publicly traded partnership which owns and operates six amusement parks and five water parks, has announced a 5% increase in its regular quarterly cash distribution to $0.44 per limited partner unit. On an annualized basis, the Partnership's distribution rate will increase from $1.68 (paid in the last two quarters) to $1.76 per unit. With a solid fourth quarter performance across the company, the 2002 full-year revenues and operating cash flow were at record levels and came in slightly above the high-end range of our expectations, the Board of Directors determined that a further increase in the Partnership's cash distribution rate was appropriate at this time." The next distribution, which is payable May 15, 2003 to holders of record April 3, 2003, represents the Partnership's 64th consecutive quarterly cash distribution, and brings the total increases in the past year to $0.12 per unit, or 7%. Cedar Fair's six amusement parks are Cedar Point, located on Lake Erie between Cleveland and Toledo; Knott's Berry Farm near Los Angeles in Buena Park, California; Dorney Park & Wildwater Kingdom near Allentown, Pennsylvania; Valleyfair near Minneapolis/St. Paul; Worlds of Fun, located in Kansas City, Missouri; and Michigan's Adventure near Muskegon, Michigan. The Partnership's water parks are located near San Diego and in Palm Springs, California, and adjacent to Cedar Point, Knott's Berry Farm and Worlds of Fun. Cedar Fair also operates Camp Snoopy at the Mall of America in Bloomington, Minnesota under a management contract. According to Kinzel, Worlds of Fun is scheduled to open on April 5, while Cedar Point, Dorney Park, Valleyfair and Michigan's Adventure all open in early May. "Our $48 million capital improvement program for the 2003 season is coming along well, including the addition of a world-record-breaking roller coaster at Cedar Point and a new double-impulse coaster at Valleyfair," season of providing the best in thrill rides, family entertainment and guest service."

[Source: Company]

DRIP Information:

Shares to Qualify = 50          
Auto-reinvestment = yes
Min/Max = $50 to $5,000/quaterly

Reinvestment Fees -

Dividend investment fees: no
Cash investment fees: no
Auto reinvestment fees: no

Cedar Fair, L.P.
Investor Relations
One Cedar Point Drive
Sandusky, Ohio 44870
(419) 627-2233 Tel 
(419) 627-2260 Fax
 
To Transfer Units: 
American Stock Transfer
59 Maiden Lane
New York, NY 10007
(800) 937-5449 Tel
(212) 936-5100 Tel in NYC
(718) 236-2641 Fax
NOTE: Registered mail is recommended when mailing certificates.

To Access Distribution Reinvestment: 

American Stock Transfer
Dividend Reinvestment Dept.
P.O. Box 922
Wall Street Station
New York, NY 10038
(800) 278-4353 Tel
(212) 921-8283 Tel in NYC

 
 

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