Right now most companies are raising cash on hand to deal with the uncertainties associated with the COVID-19 pandemic. I update this tracker weekly at the moment. -DP, Hello, SRET cut their dividend from $0.1006 to $0.065, Thanks! Other cost-cutting strategies have included optimizing hours and occupancy levels, as well as a temporary suspension of its dividend payment to shareholders. I wonder what the future of movie houses will hold. To help provide a sense of the short to long-term trend, included is an interactive Cinemark stock chart which you can easily adjust to the time frame of your choosing (e.g. If you would like notifications as to when my new articles are published, please sign up for my free weekly e-mail. The company's CEO and board of directors will also forgo their salaries throughout the crisis. Some of these have already done so. Pursuant to its amended credit facility, any dividends paid would include a cash component no greater than the minimum percentage allowed under the Internal Revenue Code.”. Rollins (ROL) dividend was cut. Each Dogs of the Dow stock page — as well as the entire site — is designed to work on mobile so you can get the latest whenever and wherever you are. This is unlike comparable six month time periods through June since 2013. Source for all of this is here: http://www.invescomortgagecapital.com/dividends. This just points to the need for thoroughly assessing dividend safety. Los Angeles County officials said on Wednesday that movie and TV production could resume on Friday, but movie theaters in the biggest market in the United States must remain closed because of the coronavirus pandemic. Any opinion expressed on the site here and elsewhere on the internet is not a form of investment advice provided to you. Cinemark Holdings Announces Pricing Of $400 Million Convertible Senior Notes Offering. I also provide a Review of the Simply Investing Course. But note that the total number of dividend cuts and suspensions will likely exceed the number during the Great Recession from 2008 – 2009. By reading this site or subscribing to it, you agree that you are solely responsible for making investment decisions in connection with your funds. We are not providing you with individual investment advice on this site. But a hard exercise of evaluating and cutting non-essential expenses is important to reduce cash burn rates. Cinemark: 17,500 Layoffs, Pay Cuts, $42M Dividend Suspension, $20M Tax Refund Part Of COVID-19 Cash-Preserve Methods “We won’t be everything back day 1, … Please consult with a licensed investment professional before you invest your money. The latest 8-K also mentioned that Cinemark is working with landlords and major suppliers “to modify the timing of certain contractual payments.”, In addition, thanks to the recent passing of the CARES Act, Cinemark said that they expect to receive an estimated $20M cash tax refund in 2020 “related to qualified improvement property expenditures from 2018 and 2019, benefit from the ability to defer social security payroll tax matches that would otherwise be required in 2020; receive a payroll tax credit in 2020 for expenses related to paying wages and health benefits to employees who are not working as a result of closures and reduced receipts associated with COVID-19; and apply any tax loss incurred in 2020 to prior year income for a refund when our 2020 tax return is filed.”. AMC Entertainment Holdings Inc, the world's largest movie theater operator, said on Friday it has enough cash to withstand a global suspension of operations until a possible partial reopening of its locations in July. Note that the paper does not address magnitude of dividend cuts. As of December 31, 2016, its the United States circuit had 339 theatres and 4,559 screens in 41 states and its international circuit had 187 theatres and 1,344 screens in 15 countries. Urstadt Biddle Properties (UBA) cut their dividend after 26 years of dividend growth. You will be redirected back to your article in, NY Gov. “Even if our theatres remained closed for the remainder of the year, Cinemark USA believes that it has sufficient cash to sustain its operations for the remainder of the year,” according to the filing.

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