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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date of report (Date of earliest event reported): January 6, 2022
 
Canterbury Park Holding Corporation
(Exact name of registrant as specified in its charter)
 
Minnesota
(State or Other Jurisdiction of Incorporation)
001-37858
 
47-5349765
(Commission File Number)
 
(IRS Employer Identification No.)
     
1100 Canterbury Road, Shakopee, Minnesota
 
55379
(Address of Principal Executive Offices)
 
(Zip Code)
 
(952) 445-7223
(Registrant’s telephone number, including area code)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
☐  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
☐  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Securities Registered Pursuant to Section 12(b) of the Act
 
Title of Each Class
Trading Symbol
Name of each exchange on which registered
Common Stock, par value, $.01 per share
CPHC
Nasdaq Stock Market
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☐
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 
 
 
 
 
Items under Sections 1 through 7 are not applicable and therefore omitted.
 
Item 8.01
Other Events.
 
On January 6, 2022, the Board of Directors of Canterbury Park Holding Corporation (the “Company”) declared a cash dividend of $0.07 per share of the Company’s common stock, $0.01 par value, as part of a determination by the Company’s Board of Directors to reinitiate the regular quarterly dividend program that had been suspended since March 2020 due to the uncertainties of the COVID-19 pandemic. The $0.07 per share cash dividend will be paid on January 28, 2022 to shareholders of record as of the close of business on January 18, 2022.
 
On January 10, 2022, the Company issued a press release, attached hereto as Exhibit 99.1, relating to the cash dividend.
 
Item 9.01
Financial Statements and Exhibits.
 
ExhibitNo.
Description
99.1 Press Release Issued January 10, 2022.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
 
 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
CANTERBURY PARK HOLDING CORPORATION
     
Dated: January 10, 2022
By:
/s/ Randall D. Sampson
   
Randall D. Sampson
   
President and Chief Executive Officer
 
 

Exhibit 99.1

 

CANTERBURY PARK

1100 Canterbury Road

Shakopee, MN 55379

 

Canterbury Park Holding Corporation Announces

Reinstatement of Quarterly Cash Dividend

 

 

For Immediate Release                           

 

SHAKOPEE, MN – January 10, 2022 – Canterbury Park Holding Corporation (the “Company”) (NASDAQ: CPHC) today announced that pursuant to its dividend policy, the Company’s Board of Directors has approved the reinstatement of a quarterly cash dividend. Following this action, the Board of Directors has declared a quarterly cash dividend of $0.07 per share to be paid on January 28, 2022 to stockholders of record as of January 18, 2022.

 

“Since the start of the COVID-19 pandemic in early 2020, our team has worked diligently to ensure their safety and the safety of our guests in the face of constantly changing health regulations, all while continuing to focus on delivering a great customer experience. As a result, our business weathered the challenges and has benefitted from a steady recovery,” said Randy Sampson, Canterbury Park Chairman of the Board, President and CEO. “We have also seen consistent progress with the ongoing development of Canterbury Commons and the land surrounding our facility. With our building momentum and visibility into our ability to generate consistent free cash flow, we are pleased to be in the position to return capital to our loyal shareholders through the resumption of our quarterly dividend.”

 

About Canterbury Park:

Canterbury Park Holding Corporation owns and operates Canterbury Park Racetrack and Card Casino in Shakopee, Minnesota, the only thoroughbred and quarter horse racing facility in the State. The Company offers live racing from May to September. The Card Casino hosts card games 24 hours a day, seven days a week, dealing both poker and table games. The Company also conducts year-round wagering on simulcast horse racing and hosts a variety of other entertainment and special events at its Shakopee facility. The Company is redeveloping 140 acres of underutilized land surrounding the Racetrack in a project known as Canterbury Commons. The Company is pursuing several mixed-use development opportunities for this land, directly and through joint ventures. For more information about the Company, please visit www.canterburypark.com.

 

Cautionary Statement:

From time to time, in press releases and in other communications to shareholders or the investing public, Canterbury Park Holding Corporation may make forward-looking statements concerning possible or anticipated future financial performance, business activities or plans based on management’s beliefs and assumptions.  These forward looking statements are typically preceded by the words such as "believes," "expects," "anticipates," "intends" or similar expressions.  Shareholders and the investing public should understand that these forward-looking statements are subject to risks and uncertainties, including those disclosed in our periodic filings with the Securities and Exchange Commission, which could cause actual performance, activities, future dividends or plans after the date the statements are made to differ significantly from those indicated in the forward-looking statements when made.

 

# # #

 

Investor Contacts:

Randy Dehmer Richard Land, Jim Leahy
Vice President and Chief Financial Officer JCIR
Canterbury Park Holding Corporation 212-835-8500 or
952-233-4828 or investorrelations@canterburypark.com cphc@jcir.com