While the share price of Cedar Fair, L.P. (FUN) managed to recover nearly completely after a wild roller coaster ride over the past 12 months, the company continued raising dividend distribution to its shareholders, which currently yields 5.5%, observes Ned Piplovic, editor of DividendInvestor.

Based in Sandusky, Ohio, and founded in 1983, Cedar Fair, L.P. owns and operates amusement parks, water parks and hotels in the United States and Canada. As of May 2018, the company operated 13 parks, as well as two hotels and three campgrounds adjacent to the company’s park locations.

The company’s portfolio of amusement parks includes Cedar Point in Sandusky, Ohio; Knott’s Berry Farm near Los Angeles, California; Dorney Park & Wildwater Kingdom in Allentown, Pennsylvania; and Kings Dominion near Richmond, Virginia.

After an initial plunge of nearly 15%, the company’s share price went through several ups and downs over the past year but managed to close the trailing 12 months just 8% away from its starting price.

However, the company’s dividend distribution rose for the eighth consecutive year and the current dividend yield outperforms its peers in the entertainment segment of the services sector.

Unlike the volatile share price, the company’s dividend continued its ascent with an eighth consecutive annual dividend hike.

Cedar Fair’s current $0.89 quarterly dividend is 4.1% above the $0.855 quarterly distribution from the same period last year. The current quarterly payout corresponds to a $3.56 annualized amount and yields 5.5%, which is nearly 7% above the company’s own 5.1% average dividend yield over the last five years.

In addition to outperforming its own five-year average yield, which rose partially because of the share price decline, Cedar Fair’s current yield is the highest among major dividend-paying companies in the entertainment industry segment.

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