Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content. The world's second-largest cinema operator said its executive directors agreed to defer their salaries and bonuses and reiterated it was in talks with lenders over its ongoing capital requirements. The payout ratios for these periods were 72.6% and 66.1%, respectively. Have $3,000? Let’s dive in. The stock is now down over 60% in the year-to-date period. A person walking through a Cineplex theatre in Toronto, Dec. 16, 2019.Aaron Vincent Elkaim/The Canadian PressThis movie sucks. By Tanishaa Nadkar (Reuters) - Cineworld's shares soared 36% on Tuesday after it suspended its dividend and said it was in talks … 4 Top Canadian Stocks Under $100 to Buy Today, Enbridge (TSX:ENB) Stock: A Top Stock to Buy Now. The company said its non-executive directors will … Information about your device and Internet connection, including your IP address, Browsing and search activity while using Verizon Media websites and apps. April 7, 2020. Returns since inception, October 2013. Meanwhile, we can also look at a theatre giant south of the border, which is facing an identical challenge. All rights reserved. Business. It Meanwhile, some Cineworld bondholders are also looking to pour cold water on the deal. 3 Top Canadian Companies to Buy Now. For Cineplex, Canadian and moviegoers, an existential crisis looms. By Tanishaa Nadkar (Reuters) - … Forget Dogecoin: Gold Stocks Are on the Move! Reuters has reported that movie theatres are aiming for a mid-July opening to take advantage of the late-summer blockbuster season. Last Close Price: $12.50. Updated: Apr 07 at 11:53 a.m. A A. Cineworld suspends dividend, defers pay to cushion virus hit; shares soar. Its merger with Cineplex is in serious question. Cineplex may not be on the thin ice that AMC Entertainment is right now, but that does not mean its stock is worth picking up. Enter your email address below to get started now, and join the other thousands of Canadians who have already signed up for their chance to get the market-beating advice from Stock Advisor Canada. By clicking "Accept all", you agree that Verizon Media and our partners will store and/or access information on your device through the use of cookies and similar technologies and process your personal data to display personalised ads and content, for ad and content measurement, audience insights and product development. A daily overview of the top business, market, and economic stories to watch in the UK, Europe, and abroad. Yield: 0%. It is the U.K.’s largest operator by market share, with a reported pretax profit of $212.4 million for 2019. CEO Adam Aron predicted in February that the impact of the global COVID-19 outbreak would be “minimal” on its business. To make matters worse, there is no concrete timeline for the conclusion of the nationwide lockdowns. AMC Entertainment is the largest movie theatre chain in the world. Please read the Privacy Statement and Terms of Service for further information. 5 Stocks Under $49 (FREE REPORT). You can change your choices at any time by visiting Your Privacy Controls. Iain Butler and the Stock Advisor Canada team only publish their new “buy alerts” twice a month, and only to an exclusively small group. Cineworld plc, which had planned to acquire Cineplex, announced the suspension of its dividend in April. Frequency: — Dividend History (adjusted for splits) Ex-Dividend Date … Investors are staring at a bleak picture in this industry. Its debt stands at $3.5 billion, excluding leases and the additional financing of Cineplex. Click here to find out more about our partners. Its merger with Cineplex is in serious question. Just Released! Simply click the link below to grab your free copy and discover all 5 of these stocks now. © 2021 The Motley Fool Canada, ULC. By Tanishaa Nadkar (Reuters) - Cineworld's shares soared 36% on Tuesday after it suspended its dividend and said it was in talks with landlords, film studios and major suppliers to offset the impact of the closure of all its 787 … Cash Dividend per Unit. Aurora Cannabis Stock: What Caused the Q3 Revenue Declines? In early April, Cineplex announced that it would keep its 165 movie theatres across the country closed indefinitely. admin-June 17, 2020. Published: Apr 07 at 6:24 a.m. The company said its non-executive directors will … Cineplex’s stock tumbled nearly 40 per cent in the past 12 months. Business; Cineplex Reaches Agreement Under Microscope As Cineworld Suspends Dividends. FILE PHOTO: A Cineworld cinema logo is pictured in Canary Wharf in London. ET by Steve Goldstein European stocks close at record high In its most recent earnings’ conference call, Cineplex President and CEO Ellis Jacob made a strong statement on the dividend: “Look, we’ve been a strong proponent of making sure our shareholders received the dividend, and we’ve done it since inception in 2003 when we went public…we are not deploying a cut.” His words were in response to analysts’ questions on the dividend … The company has instituted mass furloughs and pay cuts to stave off these issues. I understand I can unsubscribe from these updates at any time. It has suspended dividend payment for the fourth-quarter and upcoming quarters in 2020. Published: Apr 07 at 6:24 a.m. Cineworld halts dividend and says will 'monitor progress' of its buyout of Cineplex Apr. The company said its non-executive directors will also defer their fees and that it was also curtailing all unnecessary spending. Tag: Cineplex. 2 min read. Our team thinks these 5 stocks are critically undervalued, but more importantly, could potentially make Canadian investors who act quickly a fortune. September 30, 2019. Retrouvez le dividende de l'action CINEPLEX CGX, les dernières recommandations des analystes financiers, leurs objectifs de cours et les prévisions de CA, PER, BNA... sur Boursorama What conclusions can we draw from its struggles in comparison to Cineplex? We’re Motley! Streaming services have seen soaring demand due to lockdowns across the developed world, which could deal more long-term damage to the theatre industry. Shares of AMC have plunged 30% week over week at the time of this writing. Shares of Cineplex have plunged 39% month over month as of close on April 14. It also owns the largest share of the United States theatre market. Cineworld suspends dividend, defers pay to cushion virus hit; shares soar. 0 Updated: Apr 07 at 11:53 a.m. A A. With its business completely shut down, its dwindling liquidity stands as a serious threat to its existence. Fool contributor Ambrose O'Callaghan has no position in any of the stocks mentioned. Record Date. UK company Cineworld reaches $2.8 billion deal with Cineplex. Toggle navigation Dividend History. Ambrose O'Callaghan | April 18, 2020 | More on: CGX. Motley Fool Canada's market-beating team has just released a brand-new FREE report revealing 5 "dirt cheap" stocks that you can buy today for under $49 a share. Cineworld plc, which had planned to acquire Cineplex, announced the suspension of its dividend in April. September. Will Cineplex (TSX:CGX) Survive the Shutdown? This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. Dividend History | Yields, dates, complete payout history and stock information. Payable Month. Don't miss out! The stock is down nearly 70% in 2020 so far. Reuters. Current as of May 18, 2021. Not to alarm you, but you’re about to miss an important event. Record Date. Cineworld suspends dividend, defers pay to cushion virus hit; shares soar Hit by coronavirus, Fiat Chrysler, Peugeot seek to boost cash before merger Wall Street soars on … I consent to receiving information from The Motley Fool via email, direct mail, and occasional special offer phone calls. Market Cap: 0.79B. A months-long lockdown is increasingly looking like a reality, which will put an already struggling industry to the test. Cineworld on Tuesday said that it would suspend dividend payments in the final quarter of its financial year amid the “extremely challenging” coronavirus … Dividend Calendar ... Cineplex ( CGX ) News/Announcments: None Updated: 2021-05-07. $0.1500. This week, the province of Ontario announced that it would extend its state of emergency for another four weeks. Home » Investing » Will Cineplex (TSX:CGX) Survive the Shutdown? Suffice it to say, this prediction did not age well. Today, I want to look at Cineplex, as it has been roughly a month since the shutdown of its businesses across Canada. Cineplex pays an annual … You can select 'Manage settings' for more information and to manage your choices. Cineplex declared dividends per Share of $1.68 and $1.62, respectively, in each 12 month period. 0. At this stage, a return to business for movie theaters in May appears to be a long shot. 1 Cannabis Stock Under $1 with Strong Growth Potential. Since March, the world has felt... Business. In late March, I’d discussed Cineplex (TSX:CGX) stock and whether it was worth buying on the dip. Find out more about how we use your information in our Privacy Policy and Cookie Policy. At the time, I saw little reason for investors to take a gamble, with more appealing equities available in the entertainment space. Its debt stands at $3.5 billion, excluding leases and the additional financing of Cineplex. Payout Ratio: --PE Ratio: -1.3. Its debt stands at $3.5 billion, excluding leases and the additional financing of Cineplex. August 30, 2019. As of April 11 of last year, the stock was valued at $50.83, and now it’s worth $30.97 per share. Reuters. admin-June 13, … Recent reports indicate that AMC may be on the verge of bankruptcy. September 30, 2019. However, there is no telling what financial state AMC will be over the course of a months-long lockdown. This is your chance to get in early on what could prove to be very special investment advice. This adds an extra layer of uncertainty that makes it very difficult to trust Cineplex as an investment in the near or long term. 7, 2020 at 2:22 a.m. The company said its non-executive directors will also defer their fees and that it was also curtailing all unnecessary spending. Cineplex (TSE:CGX) Dividend Information. CGX.CA Dividend History & Description — Cineplex Inc. 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